Donations of Artwork/Cultural Objects
Individuals who wish to make a donation of works of art or other cultural objects must submit a "qualified appraisal" of the item(s) as defined by current IRS regulations.
Donors receive a tax receipt letter for their gift at the time that a gift is accepted by CCAR.
As with gifts of cash or securities, CCAR incurs administrative expenses which donors are expected to cover as part of their artwork donation. An administrative allocation is payable by the donor at the time that a gift is accepted by CCAR calculated at 5% of appraised value up to $9,999.99 and 3% on a gift of appraised value of $10,000 up to $1 million. Gifts appraised over $1 million in value will be open to discussion between the donor and CCAR.
Donors are responsible for insuring and shipping works of art or cultural objects to the institution once CCAR and the recipient institution have signed a Loan Agreement issued by CCAR.
CCAR encourages potential donors to consult their own tax advisers to determine their eligibility for, and the nature and extent of, any tax deduction.
All donations to the Council for Canadian American Relations are 100% tax deductible and no goods or services are provided for donations unless otherwise stated.
If you are considering a donation of artwork or cultural object to CCAR, please contact email@example.com.