Creating the Meaningful Transaction: Donor
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Artwork donors, buyers, sellers, this is how it’s done:
Full Donation of limited edition prints, LEP As of 12/2016 there are 2 methods by which to realize a tax benefit:
Tax regulations regarding non cash contributions becomes more complex for items over $5,000. Consult a tax specialist for the details. |
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original artwork
Tax benefit equals the amount donated which is dependent upon whether the donor is the artist, the producer of reproduced art, or the owner/seller/purchaser. Consult a tax specialist to know which applies.
transaction sales commission
Whether it be a private or auction transaction a commission amount is donated to the nonprofit at either the seller’s or buyer's tax benefit.
For example: owner of a high end painting approaches BFA to determine the optimum sales venue and to manage a transaction that will be either a private or auction transfer. In either case a commission (auction houses will often donate a commission) will be a nonprofit donation, and a tax deductible benefit to the donor.
Tax benefit equals the amount donated which is dependent upon whether the donor is the artist, the producer of reproduced art, or the owner/seller/purchaser. Consult a tax specialist to know which applies.
transaction sales commission
Whether it be a private or auction transaction a commission amount is donated to the nonprofit at either the seller’s or buyer's tax benefit.
For example: owner of a high end painting approaches BFA to determine the optimum sales venue and to manage a transaction that will be either a private or auction transfer. In either case a commission (auction houses will often donate a commission) will be a nonprofit donation, and a tax deductible benefit to the donor.
Partial Donation
percentage of the sale price
The first meaningful transaction BFA performed was a donation of 50% of the sales price of an original. The second, 5%.
percentage of the sale price
The first meaningful transaction BFA performed was a donation of 50% of the sales price of an original. The second, 5%.
Simple Giving
To any nonprofit.
Although there is no measurable monetary value realized in straight out giving, a naturally occurring benefit is always present often taking a most surprising route back to the giver along with an immeasurable gain.
In conclusion, it is our experience that when someone engages in a meaningful transaction the pleasure and enhanced value that comes with this type of action transfers to the artwork itself expanding the delight a piece brings to the owner, one that is felt each time the piece is viewed.
Participants enjoy the process so much more than the same old, same old, that they anticipate their next meaningful transaction.
To any nonprofit.
Although there is no measurable monetary value realized in straight out giving, a naturally occurring benefit is always present often taking a most surprising route back to the giver along with an immeasurable gain.
In conclusion, it is our experience that when someone engages in a meaningful transaction the pleasure and enhanced value that comes with this type of action transfers to the artwork itself expanding the delight a piece brings to the owner, one that is felt each time the piece is viewed.
Participants enjoy the process so much more than the same old, same old, that they anticipate their next meaningful transaction.
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