Terms of Service

1. Visit the location of the collection/specimens to examine the content and condition of the donation.

2. Determine the Fair Market Value (FMV) of any miscellaneous items, e.g. storage boxes, books, reprints, microscopes, etc. via telephone, internet and correspondence.

3. Complete a detailed inventory of the collection, including miscellaneous items.

4. Present a detailed list of the evaluation categories and the factors used to appraise the collection.

5. Prepare the appraisal according to your estimation of the number of years that you would like to deduct increments of the total (see Notes and Special Conditions).

6. Consult on and assist with the completion of IRS form 8283 (Noncash Charitable Contributions) including the Declaration of Appraiser; annually if necessary (see Notes and Special Conditions).

7. Deliver all documents prepared for your records prior to the due date (April 15, 2005) of your 2004 tax return as stipulated in IRS publication 561; duplicate copies will be maintained in my files.

  
Notes and Special Conditions
 1.The hourly and daily fee rates are flat and bear no relation to the actual or anticipated value of the appraised property or are calculated as a percentage thereof. In addition to these rates, net expenses for travel (air, rental car, mileage), accomodation, meals and incidentals will be charged. Information about fees will be provided in response to requested quotes for services.
 2.The appraisal values used to determine the value of the property are based upon those in use by other appraisers, natural history professionals and my experience working in natural history museums and with natural history specimens and a knowledge of replacement insurance values. Where possible, the values are chosen that reflect the fair market value.
 3.Should the appraised value of your property be substantial, e.g. exceeding your annual taxable income, you may wish to break the donation into annual increments in order to maximize the deduction potential. This will require coordination between yourself, your tax preparer, the donee and myself on an annual basis for several years. Each successive tax year will require an itemized breakdown of the donation, the preparation of the IRS 8283 form and its circulation for signature by a representative of the donee institution and myself as appraiser.
 4.This business does (BC&A) not prepare tax returns and can only pass along information found in the IRS documents. It is recommended that you consult with your tax preparer as interpretations can and will vary.

5.Any supplies purchased during the course of appraisal work that are beyond normal office supply expenses will be billed at cost plus any local or state sales taxes paid.
 
© Bellamy Consulting & Appraisal 2003 - All Images and Photographs Used by Permission