Wow - didn't realize that would spark quite a discussion - but thanks to everyone for their input. ~Chad From: The Museum System (TMS) Users [mailto:[log in to unmask]] On Behalf Of Glosson, Eunice Sent: Monday, October 12, 2009 7:28 AM To: [log in to unmask] Subject: Re: Accession Method In most instances the need for a tax write off is the reason for the bargain/sale. The owner would like to give the entire object, but is not in a financial position to do so. Thus the reason for both a deed of gift and a sale agreement. Sometimes, even a vendor will offer a bargain sale; they feel altruistic, but they also need to make a sale. I find these a win-win arrangement, even though the paperwork is ten times the usual transaction! From: The Museum System (TMS) Users [mailto:[log in to unmask]] On Behalf Of Christine Droll Sent: Monday, October 12, 2009 10:15 AM To: [log in to unmask] Subject: Re: Accession Method But doesn't the donor/seller want a tax write-off for the "gift" (value of object minus the selling-price) portion to the museum? Hence, the museum must furnish a deed of gift? Christine Christine Droll Collections Database Administrator The Nelson-Atkins Museum of Art 4525 Oak Street Kansas City, MO 64111-1873 t: 816.751.1333 f: 816.751.0499 From: The Museum System (TMS) Users [mailto:[log in to unmask]] On Behalf Of Aylsworth, David Sent: Monday, October 12, 2009 9:11 AM To: [log in to unmask] Subject: Re: Accession Method I have a hard time in seeing such a thing as a gift at all, which is probably my being obstinate. I think that if the Museum paid someone, the person who got paid has a role of "seller"; the accession method is "purchase". I try to retain the whole notion of a "partial gift" for cases where a donor has only given a percentage interest in the artwork, and the Museum does not yet fully own it. But that's just me... From: The Museum System (TMS) Users [mailto:[log in to unmask]] On Behalf Of Glosson, Eunice Sent: Monday, October 12, 2009 9:08 AM To: [log in to unmask] Subject: Re: Accession Method We do a two part document, a Purchase and Sale Agreement, along with a Deed of Gift for the gift portion. I was wondering how you document these in the constituent portion of TMS? Right now I am calling these a Partial Gift, but have never been completely satisfied that the purchase portion is represented up front. From: The Museum System (TMS) Users [mailto:[log in to unmask]] On Behalf Of Aylsworth, David Sent: Monday, October 12, 2009 9:58 AM To: [log in to unmask] Subject: Re: Accession Method 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