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VLG (Very Large Gift) to Library Special Collections - Advice and Sample Agreement Requested

  • 1.  VLG (Very Large Gift) to Library Special Collections - Advice and Sample Agreement Requested

    Posted 12-01-2023 06:38 PM

    Our university library has been approached by an individual who would like to donate a very large collection of artifacts, photos, books, articles, historical maps, government documents and ephemera related to a national park with whom our University has a special affiliation. The donor is a former park ranger and this collection represents his life's work. My understanding is that the collection currently occupies several rooms of his house and his garage. The partial inventory of items to be donated is 180 pages, typed, single-spaced. We have never dealt with a gift quite like this before.

    Would any of you be willing to share a sample of your gift agreement template that might be an appropriate starting place for a gift such as this? One of my concerns is that the donor will ask that the university keep the collection intact but given the sheer volume of material, and the cost of providing appropriate archival space, we will want the ability to pare the collection down.

    Bonus questions:

    • Is a complete inventory of all of the items being donated required?
    • If so, should it be the donor's responsibility to compile the inventory and will the university need to affirm that all items listed on the inventory are received? Normally this wouldn't be a concern but there are literally thousands of individual items.
    • The donor will not be seeking a formal appraisal for the collection. What are some strategies we can employ to arrive at a FMV? Can we set a base value for certain types of items/media (eg - photographs are valued at $10 per photograph, etc.) and concentrate our efforts on determining FMV of just the "big ticket" items? 

    I welcome any advice or feedback you may have regarding this potential gift.



    ------------------------------
    Patrick Hunt
    UC Merced
    phunt@UCMERCED.EDU
    ------------------------------


  • 2.  RE: VLG (Very Large Gift) to Library Special Collections - Advice and Sample Agreement Requested

    Posted 12-01-2023 06:58 PM
    I have been involved in a few of these. However, I have only dealt with such a proposed donation with the involvement of the entire gift acceptance committee. This should not just be "dumped" on Advancement Services.

    The first question the GAC must ask and answer is, Do we want all of this? I understand the relationship with the national park and the donor. But are you the right and best recipient of this donation? Perhaps the collection - or portions - are more suitable donations to the National Park Service.

    And what exactly will you do with this material - store it? Can you use all or most of the material in a meaningful way?

    And if you do, as a committee, determine you should accept the donation, what are the lifetime carrying costs for storage, preservation, and insurance? And who will pay for that?

    These and more questions must be asked and answered before you do anything else.

    As to your questions, someone will need to inventory everything. If the donor will not, the question of who will must be answered. The donor will need that itemization and their own appraisal if they intend to claim a deduction (you cannot do this for them). If they don't intend to claim a deduction, your Risk & Insurance Office will likely demand a full accounting, and they will need to obtain an appraisal. That's the only way I know to determine the FMV. Risk & Insurance will need that for purposes of insurance coverage.

    Gather your CFO, Asset Management, Counsel, Facilities, and anyone else you can think of, including your full GAC, and let them determine the next steps.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


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