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