Frequently Asked Questions

 
 

CAN I DONATE MY COMIC BOOK COLLECTION?

Due to space restrictions, the museum can only accept a selection of particular comic books for our permanent collection. Certain Golden and Silver Age comic books, as well as some older vintage printed materials are eligible for the archives on a case-by-case basis.

I HAVE AN OLD FLYER THAT I THINK IS ILLUSTRATED BY A FAMOUS CARTOONIST. WILL THE MUSEUM ACCEPT IT?

We accept printed materials for our research library that have a relationship to cartoon or animation art, especially rarities that will be useful to researchers. If you have an unusual item that you think might be of interest, please contact our curator.

DOES THE MUSEUM COLLECT TOYS, ACTION FIGURES OR OTHER CARTOON MERCHANDISE?

Yes, the museum does collect selected merchandise, toys, and other 3-D objects related to cartoons, on a case-by-case basis. If you have memorabilia that you think might be of interest, please contact our curator.

CAN THE MUSEUM TELL ME WHAT MY COLLECTION IS WORTH?

For both ethical and legal reasons, the staff of the museum is not permitted to give appraisals or opinions of monetary value of art or other objects. We recommend that you arrange for an independent appraisal of your cartoon art and objects before considering donation in order to correctly assess the value of your donation for tax purposes. See below for more details on appraisal requirements for tax purposes. Useful sources to consult for determining value include*:

  • Auction catalogs and auction house sites (i.e. Illustration House, Sotheby's, Christie's)

  • Dealers of cartoon art, comic books, or cartoon-related merchandise

  • IRS Publication 561, "Determining the Value of Donated Property"

  • Online auction sites (i.e. eBay)

  • Price Guides and Books on Collectibles

  • Robert M. Overstreet, The Official Overstreet Comic Book Price Guide

*Inclusion on this list in no way implies an endorsement or recommendation by the Cartoon Art Museum.

WHAT ARE THE TAX BENEFITS OF DONATING?

The Cartoon Art Museum is a nonprofit, 501(c)(3) organization. The fair-market value of any donation is tax-deductible. The fair-market value is defined as "the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell, and both having reasonable knowledge of relevant facts." – Income Tax Regs. Sec. 1.170A-1(c)(2)

DOES THE IRS REQUIRE AN APPRAISAL OF MY DONATION?

If you claim a total deduction of $500 or less for all contributed property, you do not need to attach any special forms to your tax return. If you donate personal property worth between $501 and $5,000, the IRS requires Form 8283, Non-cash Charitable Contributions to be filed with your tax return, but it does not need to be signed by the museum. You do not need a professional appraisal but you must report how the fair-market value was determined. Evidence of contemporary sales of similar pieces is generally sufficient.

If the donated item or group of similar items exceeds $5,000 in value, the IRS requires a professional appraisal. As an interested party, the Cartoon Art Museum is not permitted to provide or arrange the appraisal. IRS Form 8283, Non-cash Charitable Contributions must be attached to your income tax return and signed by both the appraiser and the museum.

If your total art contribution deduction exceeds $20,000, you must attach a complete copy of the signed appraisal along with IRS Form 8283, Non-cash Charitable Contributions. You can download Form 8283 from the Internal Revenue Service's website: https://www.irs.gov/.

WHAT DOCUMENTATION DOES THE MUSEUM PROVIDE?

For every donation, the museum provides a letter stating what the gift was and when it was received by the museum. The donor should keep this letter as a receipt of the gift for their tax records. For any donation of stock, art, books, or other gifts-in-kind to the Cartoon Art Museum, the fair-market value is tax-deductible.