Word: museum
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...economic principles, Yunus deserved both the Peace and the Economics prizes. Anushua Biswas Skipton, England I was touched and very happy to read about Yunus' microcredit story. In a time of such bleakness and pessimism, the possibility that by 2030 the only trace of poverty could be in a museum was absolutely wonderful news. Imagining a very near future in which the word poverty requires the use of the past tense is enough to make everyone optimistic. Diana Cella Perugia, Italy Nuclear North Korea President Bush's nightmare became a reality when North Korean leader Kim Jong Il joined...
...time when museums are generally priced out of auctions for top works of art, that donation method, known as fractional giving, has been responsible for a substantial portion of the 80% of pieces that come through private donors. "It's a win-win situation," says Stephen Clark, deputy general counsel for the Museum of Modern Art in New York City, where roughly 650 works of art have been acquired via fractional giving, with about 650 more on the way--including Henri Matisse's Plum Blossoms. "It encourages art collectors to give because they get a tax benefit, but it also...
Already the new tax law is disrupting the traffic between donors and museums. That's in part because it requires a museum to take possession of a piece of donated art within 10 years, not merely for a specific number of days each year, as under the present arrangement. And now donors' write-offs are limited to a painting's market value at the time the original gift was given, not its appreciated value. That may end up being a significant disincentive for giving. While the law's intent is to prevent donors from reaping tax breaks on art that...
...Museum officials, who are lobbying to have the tax provision withdrawn, say they're already getting the cold shoulder from potential donors. "There have been donors in negotiations who pull back immediately," says James K. Ballinger, director of the Phoenix Art Museum, which obtained two Georgia O'Keeffe paintings through fractional giving. Lerner says he's advising clients to hold off on donations and has pulled the plug on a $20 million painting. "I don't go through a long explanation. I just tell the client, 'You can't do this any longer,'" he says. "They say, 'Fine...
From 2003 to 2006, HPT has donated $46,000 to the Cultural Endowment Fund, HPT 159 Producer Evan W. Eachus ’08 said. The fund, which allows Cambridge students to pursue unique cultural experiences, has subsidized tickets to theatrical performances, cultural events, and museum exhibitions...