50 Artists for 50 States
An Art Dealers Association of America Initiative
In Support of the Artist Museum Partnership Act
The Art Dealers Association of America is launching 50 Artists for 50 States, a national initiative to support the Artist Museum Partnership Act currently pending before Congress. ADAA is organizing pledges for the donation of 50 works of art by 50 living American artists, one for each state, in an effort to advance this legislation, which would benefit artists, museums, and art lovers around the country. The Artist Museum Partnership Act is a bi-partisan effort that addresses the inequity artists face when donating their works to public institutions. Unlike collectors and arts patrons—who receive a tax deduction for the fair market value of artworks they donate—artists receive a deduction only for the cost of materials used to create the work, for example canvas and paint. The current law is unfair to artists, hurts museums and libraries around the country, and results in fewer donations of American art to non-profit institutions.
50 Artists for 50 States Initiative
The Association is coordinating pledges by some of the country’s leading artists for donation to a museum in each of the 50 states, on the occasion of the passage of the Artist Museum Partnership Act. The artists will be chosen by an Artist Selection Committee, identified by ADAA, and will be announced over the coming year. 50 Artists for 50 States will illustrate the profound impact the passage of this bill will have on communities by bringing American art to institutions throughout the country. In working to pass this important legislation, ADAA is joined by Americans for the Arts, and the American Association of Museums (AAM).
To further galvanize support for the initiative and bring together members of the arts community, ADAA is hosting a series of events around the country to create awareness about this crucial legislation. These events will be held in Chicago, New York, Los Angeles, Dallas, San Francisco and Washington, DC and will highlight the benefits of this legislation for all regions of the United States.
Artist Museum Partnership Act Facts
The Artist Museum Partnership Act includes safeguards to prevent abuse including providing relevant value information, providing qualified appraisals and, in some cases, review by the Internal Revenue Service’s Art Advisory Panel.
While a patent holder who donates his/her patent can take a full fair market value deduction for the contribution, artists, composers, and writers are denied equitable tax treatment under current law. Artists enjoy better tax benefits if they die or if they change occupations than if they donate artworks their during their lifetimes.
Incentives for artists to donate their works will help ensure that significant American cultural assets will remain in the United States and not be lost to other countries whose strong currencies enable their private collectors and institutions to acquire works which otherwise might remain in American arts institutions.