Friday, March 09, 2012

Philanthropy 'stymied' by red tape taken to art form

Philanthropy 'stymied' by red tape taken to art form: he senior partner of Arnold Bloch Leibler said bureaucracy associated with one of the country's main philanthropic art programs was so dysfunctional that donors had forgone pledging valuable works of art to the nation because of the red tape involved and the attitude of tax office staff and administrators of the Cultural Gifts Program.

Significant works can be pledged to collecting institutions, attracting immediate tax deductions but allowing the work to remain with the donor until his or her death.

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