Is this a partial gift of one object, say 20% of the value of an expensive tea table each year? If so, don't accept that - way too complicated and if they want to rescind their gift at year three, then you own 2/5 of an object. Not a good idea for your museum legally. There are tax implications, etc., too (that's probably why they want to donate a part at a time). It's fraught with bad vibes.
 
If this is multiple objects, then each year's gift should be an individual transaction.
If you retain custody of everything, the other items should be loans until they are yours legally.
 
If this is money, again, each year's gift should be individual transactions.
 
Sabrina Henneman
Registrar
Genesee Country Museum
-----Original Message-----
From: Beth Parker Miller [mailto:[log in to unmask]]
Sent: Friday, August 26, 2005 8:39 AM
To: [log in to unmask]
Subject: [MUSEUM-L] Credit lines for partial gifts

We have been offered a gift that the donor would like to make over the next five years (20% each year).  For those who have encountered similar gift situations, what wording have you used for credit lines?
 
Beth Parker Miller
Associate Registrar, Permanent Collections
Winterthur Museum
[log in to unmask]

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