Hi Eunice,
Those are a little complicated
when the “donor” wants a gift form for their portion of a bargain
sale. I try to encourage them to handle it more on their side with their
accountant than on ours. In my mind, a bargain sale is nothing more than
a deeply discounted purchase. The relatively few times that it occurs, I like
to see a purchase agreement drawn up that acknowledges what the insurance value
of the piece is, as well as what price the Museum has agreed to pay. The “donor”
(actually, the “seller”) can then work out their own tax forms to
recognize this as a bargain sale.
Does that make sense?
David
From: The Museum System
(TMS) Users [mailto:[log in to unmask]] On Behalf Of Glosson,
Eunice
Sent: Monday, October 12, 2009 8:43 AM
To: [log in to unmask]
Subject: Re: Accession Method
How do you handle
bargain/sales?
Eunice Glosson
Registrar for Collections and
Museums
Colonial Williamsburg Foundation
From: The Museum System
(TMS) Users [mailto:[log in to unmask]] On Behalf Of Aylsworth,
David
Sent: Friday, October 09, 2009 6:00 PM
To: [log in to unmask]
Subject: Re: Accession Method
In Houston, we very much
consider this to be a PURCHASE. It’s something that is always being
confused by our curators, but I try to drill home that anytime the institution
cuts the check, the accession method is PURCHASE. If we do not cut a
check, it is a GIFT.
Similarly, the role of the
person who gives funds for a purchase is a FUNDER. If they give an
object, they are a DONOR. Something that is purchased should not have
anyone with a DONOR role linked to it.
I actually set it up
procedurally that we cannot buy a work of art unless the purchase order is
accompanied by an “art purchase form” which is a crystal report out
of TMS. The “art purchase form” will not run if there is not
someone identified as a “dealer or seller” as well as someone
identified as “funder” and the accession method switched over to
“purchase”. It’s worked surprisingly well
David
David Aylsworth
Collections Registrar
Museum of Fine Arts, Houston
telephone: 713-639-7824
fax: 713-639-7780
Opening Sunday: The Moon:
"Houston, Tranquility Base Here. The Eagle Has Landed"
From: The Museum System
(TMS) Users [mailto:[log in to unmask]] On Behalf Of Chad
Petrovay
Sent: Friday, October 09, 2009 4:32 PM
To: [log in to unmask]
Subject: Accession Method
How do you handle Accession Method when an object is
purchased by the institution with funds from a donor. Is this considered a
Gift, a Purchase, or do you have some other designation for it?
Many thanks,
Chad Petrovay |
Collections Database Administrator
MIM—Musical Instrument Museum |
8550 S. Priest Drive | Tempe, AZ 85284
480.481.2460 main | 480.353.2746 direct |
480.481.2459 fax | www.themim.org
Blog:
www.petrovay.com/tmsblog