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(Complete gift description)
Gifts of art and cash to purchase art are essential to building and maintaining the Guggenheim's renowned collection. All gifts of art are subject to the selection of the curators, and ultimate approval by the Board of Trustees. There are a variety of ways to give works of art:
- Outright Gifts allow you to irrevocably transfer ownership and receive a charitable income tax deduction for the appraised value of your art in the year you make your gift (subject to IRS "Related Use" rules and other requirements);
- Fractional Gifts allow you to transfer ownership in a series of "undivided fractional interests" over a period of years (you must transfer 100% ownership within 10 years) and receive income tax deductions incrementally in the year you donate each fractional interest;
- Bequests allow you to keep your artwork for the remainder of your life while ensuring that it will have a proper home after your death and lessening the burden of estate taxes on your heirs.
Please contact us to discuss your gift and determine which approach may be the best for you. All gifts of art qualify you for membership in the Guggenheim Society.
For more information
E-mail us, complete the personal illustration form, or call us at 212 423 3500 so that we can assist you through every step of the process.