Candace:  My understanding of the matter is that you as the receipient of a
donation are not bound to keep the donation for any length of time.  The
property is yours to do with as you please.  If, however, you dispose of it
within two years of the donation, you are required to notify the IRS.  The
donor's deduction may then be adjusted post facto by the IRS.  For example,
if the donor claimed a $10,000.00 write-off, and you were to sell it within
2 years for $5,000.00, the value of the donation (the write-off) would be
adjusted to that amount.  Essentially, you have to amend the Form 8283 (Non
Cash Charitable Contribution). I'm sure there is a seperate form for that.

Also, check your donation agreement.  Savy donors will often list a length
of time that the donation must be kept, and that could be any length of time
the donor wants.  It then becomes a contractual matter between your
institution and the donor.

Warning: I'm not a tax lawyer; if it were me, I'd consult one.

Rich White, Director
Interntional Wildlife Museum

-----Original Message-----
From: schwenkfelder library & heritage center
[mailto:[log in to unmask]]
Sent: Tuesday, August 28, 2001 7:23 AM
To: [log in to unmask]
Subject: deaccessinoning after a tax deduction


Good morning:

Could anyone refresh me on the length of time that a museum must wait to
deaccession if the donor has taken a tax deduction for his gift?

Candace Perry
Schwenkfelder Library & Heritage Center