IV AKING CHARITABLE GIFTS OF ART A PRIMER FOR DONORS INTRODUCTION The United States is consistently the most charitable nation in the world. Americans give more, as a percentage of Gross Domestic Product, than any other nation.' For many Americans, charitable giving is as simple as sending a gift in the form of cash, a check or a credit card payment to a favorite charitable organization. However, Americans also contribute a substantial amount of non-cash assets to charity each year in various forms, such as stock, real estate and art.' While writing a check or making a credit card donation is relatively easy, making a charitable gift of art can be far more complicated and challenging. Charitable gifts of art can present complex legal and tax questions. The purpose of this paper is to address some of the tax laws that govern gifts of art and offer planning considerations for individuals who are considering making such a gift. Additionally, the paper will offer suggestions for how philanthropists can work with charitable organizations and advisors to facilitate gifts of art. ' Wdd tenrWced Deemed Maw Repo' km 2006 oaks it*U.S. teirouderedle lefeacedosedDess kook Peduci 0.1%), by Coxdo me he United reutdom (O3% °W. 'Re lam 'err campuses a wide variety d *tit edges tte eel lipid ter getup. snares, dietordis, pies, ad dodge Fa the AMPS'S d deeper, die ism 'or Coes me axle* update Ma Northern Trust LINE OF SIGHT July 29, 2013 Tim Bresnahan Second Vice President Philanthropic Advisory Services I tee el Sir Matey Chontode Geis of An I 1 of 12 View Print Exit O. EFTA00603535