The success of the Fries Museum can only be guaranteed if we have the commitment and support of private individuals and corporate friends. Government subsidies are no longer a matter of course, so we have to work even harder to generate our own income. Your gift to the Fries Museum can make an incredible difference, and we will gratefully use your donations for acquisitions, restorations, or special projects. We describe some of the various types of financial support and tax benefits below.
You can transfer your donation to the Fries Museum's bank account NL44RABO0160855624. The amount you can deduct from your taxes depends on your taxable income and can amount to as much as 52%. If your donation is between 1% and 10% of your collective income (with a minimum of €60,-), then your entire donation is tax deductible.
Your greatest tax benefit is if a donation is distributed over five calendar years. These periodic donations take the form of an annuity that is recorded in a notarial deed. A fixed amount has to be donated at least once a year for five consecutive years. These annual periodic donations are fully deductible from your income tax (without being subject to a threshold or maximum amount). The museum pays the legal cost involved in any periodic donations amounting to €1000 or more per year.
You can also specify a gift to the Fries Museum in your will, or you can name the Fries Museum as a beneficiary. You will have to indicate in your will what percentage of your estate you want to give to the museum. If you want to donate a previously agreed amount, you can grant a bequest to the Fries Museum. You can also bequeath objects and collections to the Fries Museum. The museum is exempt from gift tax and inheritance tax, which means you can be certain that your gift will be used for the intended purposes.
a fund in your name
Perhaps you have a special connection with an object or activity in the Fries Museum. You can support your choice with a fund in your name. A fund in your name is a once-only or periodic donation with a specified purpose that is compatible with the aims of the museum. The museum assumes all costs involved in administering this type of donation if the amount is €25,000 or more.
donations in kind
Donations in instalments can take the form of money but can also be in kind. Suppose you have a special object in your possession (e.g., a painting, fabric, silver) and would like to donate it to the museum. If the museum deems your object of importance for its collection, it is appraised and, if so desired, can be donated to the museum over a five-year period. During this period, the donor can deduct one-fifth of the estimated value per year. Donations in kind go directly to the Fries Museum. When donating objects use can also be made of the so-called multiplier, which is applied to the estimated value of the object. The increase of 25% also applies here (see below), to a maximum of €5000.
the new gift and inheritance tax act (geefwet)
The Gift and Inheritance Tax Act (Geefwet) is a national government initiative to stimulate private and corporate charitable donations to culture. This law provides an extra stimulus to the amounts that can be deducted from income and corporate taxes for gifts to (cultural) Public Benefit Organisation (ANBIs) such as the Fries Museum. The most beneficial tax measure is a multiplier of 1.25 on gifts to culture. This means that there is an additional 25% exemption on the total gifted sum, which applies to a maximum donation of €5000 per annum. Naturally, you can donate more than €5000 per year, but the multiplier does not apply to amounts over and above €5000. The deduction also applies to corporate donations. Deductible donations by a company may amount to 50% of the taxable annual profit up to a maximum of € 100,000. A multiplier of 50% applies to corporate tax, up to a maximum of € 5000 per year. The maximum extra deduction is €2500 on a yearly basis.
do you want to know more about gifts and bequests?
If you would like to know more about gifts and bequests to the Fries Museum, or need our international banking codes, kindly contact Liesbeth van Keimpema on 0031 58 205 00 48 or via email; email@example.com