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POLICY ON GIFTS TO MUSEUM
A gift is a complete transfer of ownership without restriction from the previous owner to the museum. As a matter of principle, the museum cannot afford to limit the usefulness of a gift by agreeing to display them at all times or to associate the name(s) of the donor publicly everytime the item is used. Long Term Loans are graciously refused. Temporary loans of two weeks or a month are often necessary, but it is important that the owner be aware the he is to return to get his object immediately when the exhibit is dismantled.
The museum collects two kinds of objects:
- a) Items that have aesthetic, historic or scientific importance.
(These should be fully documented as to their history or their value for scholars or students)
- b) items that have future educational usefulness... typical commonplace objects that have to be stored until the time that they are called upon to fill out an exhibit to demonstrate physical characteristics or processes. These too must be identified and documented.
Charitable giving:
If you are interested in giving a gift of stocks, bonds or mutual funds to Alton Museum of History & Art, Inc., contact us at 618-462-2763 or altonmuseum@gmail.com.
Yes, Alton Museum of History & Art, Inc. accepts cash donations as well as gifts of stocks, bonds or mutual funds. By giving a gift of stocks, bonds or mutual funds, you are parting with dominion and control of the stock to Alton Museum of History & Art, Inc. thus eliminating the capital gains taxes you would have owed if you sold it.
A stock is said to be highly appreciated if it is valued at a higher rate now than when you originally purchased it. By giving a gift of stock to Alton Museum of History & Art, Inc., you generally receive a full deduction of the entire value of the asset, while avoiding the capital gains tax which would have been due had you sold it.
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