How YOU can help us: Gifts
Gifts, bequests and other inheritances are vital to the Gemeentemuseum. To expand its collections, the museum relies to a great extent on the help of private collectors. Indeed, without private support, the museum would lose its very reason to exist.
The subsidy provided by the City of The Hague enables the museum to carry out its basic tasks. But it is thanks to the generosity of private individuals, businesses, charitable funds and foundations that the museum is able to do so much more: to expand its collections, organize outstanding exhibitions, offer special educational programmes, etc. So the museum is grateful for every gift or inheritance, however large or small.
The Dutch tax administration recognizes the Gemeentemuseum as a Cultural Public Benefit Organization (in Dutch: Algemeen Nut Beogende Instelling or ANBI; RSIN/fiscal number ANBI 807531042). This means that every gift or inheritance received by the Gemeentemuseum is completely exempt from gift or inheritance tax. In other words, the museum pays no tax on them. So every cent gifted or bequeathed to the museum can be used to fund its work. But it is not only the museum that benefits. The donor also enjoys a number of tax breaks.
Gifts attracting tax breaks
Do you care about the Gemeentemuseum? Do you want to support it? By expressing your support in the form of gifts or by leaving the museum something in your will, you can make your own personal contribution to the work of the Gemeentemuseum. For example, your support may enable the museum to undertake restoration work, implement an educational project, or enhance its collections by acquiring artworks that it could not otherwise afford.
The Gift and Inheritance Tax Act
The Dutch Gift and Inheritance Tax Act (Geefwet) came into effect on 1 January 2012. The new legislation creates fiscal incentives for periodic giving to cultural institutions like the Gemeentemuseum. If you require more information, please contact Celine 't Hart, CtHart@gemeentemuseum.nl
To take advantage of the new fiscal incentives, you must sign an agreement committing you to make regular gifts over a period of at least five years. The advantage of this is that the gifts are always 100% deductable for purposes of income tax, irrespective of the amount you give each year. Your gift will therefore be fully tax deductible even if it is under the threshold usually imposed by the Dutch tax administration.
Periodic donations of art objects
Your periodic gift need not be in the form of money. Art objects can also be donated to the Gemeentemuseum in this way. Like monetary gifts, such donations can be tax deductible.
If you require more information on donations/periodic gifts, please contact Celine 't Hart, CtHart@gemeentemuseum.nl
The tax advantage to you
Making a periodic gift earns you a tax break. The larger your gift, the more you can deduct for purposes of income tax. Depending on the rate at which you pay income tax, your tax break can be as much as 52% (meaning that you would ‘get back’ 52% of the amount you donate from the Dutch tax administration. The purpose of the Gift and Inheritance Tax Act is to encourage private individuals to make regular donations to cultural institutions over five-year periods. The Act permits you to deduct 125% of the amount of your gift for income tax purposes (subject to a maximum of € 1,250 for the additional 25%).
The tax advantage to the Gemeentemuseum
Your periodic gift means that the Gemeentemuseum can count on your financial support over a set period and can really invest in the future.
A one-off gift to the Gemeentemuseum can also be deducted from your taxable income. The size of the deduction depends on your income. If more than 1% of your income is donated to Public Benefit Organizations in the year, the amount you donate in excess of that threshold (up to a maximum of 10% of your income) can be deducted from your taxable income. Note that the amounts apply to total donations to all Public Benefit Organizations!
You can make your gift by bank transfer to Stichting Gemeentemuseum Den Haag, account number 0362.8033.31 (IBAN: NL11 RABO 0362803331 BIC: RABONL2U).
Thank you for your generosity!
Donating art objects
Your one-off gift need not be a sum of money. Art objects can also be donated to the Gemeentemuseum in this way. Like monetary gifts, such donations can be tax deductible.
For further information, advice and details of other ways of making gifts or testamentary dispositions, mail Céline 't Hart, or phone her on + 31 (0)6 81 84 98 51.