[Nhcoll-l] Rock, mineral and fossil appraisals

[Erin McDonald]

The rules are actually quite different in Canada. The CRA (equivalent of
IRS) allows for internal appraisals of any items valued at under $1000.

Over that threshold, it's typically a negotiation with the donor. Donors
rarely come with an appraisal, and the cost of the appraisal typically
(though not always) falls to the receiving institution. Moreover, we would
not typically accept an appraisal that was provided by a donor. The
institution must assign the final value.

Again, there are different policies at differing institutions, but as Rich
mentioned, US rules are quite different in this area.

Erin.

*Erin McDonald
*Collections Management Advisor
Museums & Collections Services
University of Alberta, Ring House 1
Edmonton, Alberta
Canada, T6G 2E1

T: (780) 492-0776
F: (780) 492-6185

www.museums.ualberta.ca
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On Tue, Jun 11, 2013 at 3:43 PM, Gregory Brown <gbrown1 at unl.edu> wrote:

>  I don't know the laws in Canada, but in the US we are not permitted to
> appraise the value of the donated item for the donor...it is the
> responsibility of the donor.  The IRS has rules for establishing value for
> tax purposes that donors must follow.  Donors can usually use third party
> appraisers or, for lower-cost items, recent catalogue or sale prices to
> establish fair market value.  But we (as the receiving institution) can not
> get involved with the appraisal process at all.
>
>  Greg
>
> Sent from my iPhone
> Gregory Brown
>
> On Jun 11, 2013, at 3:40 PM, "Carmen Chinery" <cachiner at ucalgary.ca>
> wrote:
>
>    Hello All,
>
>  I'm wondering if anyone out there has connections to people who do
> "fair-market value" appraisals of minerals, rocks and fossils.  We are
> consistently getting requests for tax receipts to accompany donations to
> our department, and I'm having a heck of a time trying to find someone who
> can do this kind of work so we can produce tax receipts.  If anyone knows
> of someone, preferably in Canada, so the tax stuff doesn't get too
> complicated, I'd appreciate the contact information.  I'll take information
> for anyone in the United States too.
>
>  Thanks in advance.
>
>  Cheers,
>
>  Carmen
>  *Carmen Chinery**
> *Curator and Laboratory Technician
> Department of Geoscience
> University of Calgary
>
> ph:   403-220-2723
> em:  carmen.chinery at ucalgary.ca
> ma:  Department of Geoscience
>        University of Calgary
>        2500 University Drive NW
>        Calgary, AB
>        T2N 1N4
>
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