May 27th, 2011
Artists and art galleries are typically the go-to source when a non-profit is looking to find items for an auction or special event fundraiser. And many artists and art galleries are happy to oblige. My artists are incredibly generous and have had some valuable returns on their donation opportunities. However, when an artist donates a painting, they are only able to deduct (as a tax deduction) the cost of their materials that they used to create the piece.
Here at Gallery MAR, we have a few groups that are especially close to our heart, including Recycle Utah, Peace House, and the MS Society. We donate every year to these organizations and open up the gallery to all non-profits (free of charge) for their events.
When you, as a private individual, are asked to donate to a cause, what are your options? You can send a check, volunteer for a day, or donate supplies and fixtures for them.
Or, you can support an artist while you support your favorite non-profit. Why not donate a painting by a local artist?
I have to give the credit to my father for this idea, which helps to pass around the generosity and promote art at the same time. It’s not perfect for every non-profit; however, it gives them valuable options. An organization can choose to auction the painting, raffle for the opportunity to win the piece, hang it in their offices, or a myriad of other creative ideas. And when you donate a piece of artwork, you are able to deduct the fair market value of the sculpture, painting, or mixed media work.
There are also some fun additions that can add to the cache of your donation. For example: Gallery MAR can provide you with a brass plate that states the name and title of the painting, along with the name of the generous person who donated the work. If this is something you are interested in, let us know how we can assist you. We can help you select the perfect artist and piece for your donation, one that connects with the message of your favorite not-for-profit organization.
Something to think of the next time an organization asks you to give generously.