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April 20, 2007

Incentives Sought for Artists to Donate Works

A lack of financial incentives often dissuades artists from donating works to charitable causes, but creative forms of compensation can encourage many to give, reports American Artist.

Unlike dealers, artists cannot deduct the sales value of donated artworks from their taxes, only the cost of materials, the magazine reports. Because donations often bring in no money for artists and rarely advance their careers, most painters and sculptors are reluctant to part with pieces.

However, the article lists numerous examples of partnerships through which charities and artists can benefit. For instance, one public television station in Wisconsin promotes artists who donate on the air, and other groups split the price of auctioned goods with the creators of the artwork. Some organizations offer discounts on booths at fairs if artists donate art as well.

Read an opinion piece arguing that Congress should eliminate tax breaks for artistic donations and also numerous responses to that argument in The Chronicle of Philanthropy.

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