Posted by: PNNOnline on Friday, March 30, 2007
Topic Arts, Culture & Humanities
In years past, museum directors could be confident that when a patron called to discuss an in-kind gift, it was to talk about donating a work of art. Recently, however, those discussions have become much broader, as donors increasingly express interest in donating gifts of real estate, insurance, and more, the New York Times reports.
Last year, for example, the High Museum of Art in Atlanta received additional coverage from AXA Art Insurance, a unit of the French financial services company, for a traveling exhibition of art from the Louvre. As a corporate sponsor of the show, AXA agreed to supplement indemnity insurance offered by the U.S. government. Given that insurance is a major cost of mounting art exhibitions, the gift offset costs as much as any stream of money would, said museum director Michael Shapiro."