[BCMA] Question re high value Donation

[Moderated BCMA subscriber listserv]

Hello Tammy,
Was the appraisal done by a qualified appraiser at arms length from the
donor, and were the amounts justified?
You only require one appraisal if the donation is valued under $50,000 but
it does need to be a detailed appraisal, not just a statement that it's
worth x amount.
Cheers,
Catherine

On Wed, 6 Nov 2024 at 20:04, Moderated BCMA subscriber listserv <
listserv at lists.museum.bc.ca> wrote:

> Hello Everyone,
>
> I work in a tiny museum in a remote area. We don’t typically receive large
> donations of artifacts so I need some advice.
>
> A couple of years ago, I had a significant donation of artifacts from a
> tin collector. He supplied a signed appraisal and requested a tax receipt.
> We were excited to add the items to the collection but we noticed the
> valuation of items was quite high and often considerably high compared to
> other items we could find online.
>
> This year he contacted us again to offer more items. The valuation is over
> $25,000. It has the required appraisal. My new Board of Directors is
> concerned about accepting the donation because of the need to write a tax
> receipt for that amount.
>
> Is there need for their concern? I have been asked to find out if writing
> a tax receipt for that amount impacts the organization in any way.
>
> Thank you in advance for your help with this matter. You can email
> jbfletcherstore at gmail.com if you have any insight to share.
>
> Tammy
>
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-- 
Catherine C Cole, MA, FCMA
She/her
Principal Consultant, Catherine C. Cole & Associates
Culture and Heritage Community Chair, National Indigenous Knowledge and
Language Alliance (NIKLA)
Member, Indigenous Cultural Heritage Advisory Council (ICHAC), Parks Canada
Member, ICOM Canada Board
10023 93 Street, Edmonton, AB, CANADA, T5H1W6
ᐊᒥᐢᑿᒌᐚᐢᑲᐦᐃᑲᐣ (Amiskwacîwâskahikan), Treaty 6/Métis Territory
CatherineC.Cole at telus.net; 1-780-803-2504
https://www.linkedin.com/in/catherine-cole-72015a29
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