They approached us as well. They had a very nice Petrof III in great condition that they wanted a donation appraisal on so someone could write it off on their taxes. However, the asked us to appraise it for a specific amount that exceeded $5,000. We didn't disagree the piano could easily be worth what they wanted us to appraise it for, but IRS laws state that for anything valued over $5,000 a certified appraiser has to assess your "Condition Report" on the piano in order to provide a certified value for the object in question. Otherwise, the donation tax write-off will not withstand an audit. If you provide them with an appraisal above $5,000 then you are legally liable if/when the donation value is called into question by the IRS.
Needless to say, the Beethoven Foundation bounced faster than a rubber ball when we said they needed to abide by IRS rules and have a certified appraiser (aka a local Lawyer) review our condition report to provide an appraisal for the amount they wanted.
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Timothy Barnes, RPT
Owner at the Well-Loved Piano Company
Owner of the GazelleNetwork.com
www.Well-LovedPiano.com(704) 960-4129
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Original Message:
Sent: 04-04-2018 07:14
From: Alicia Shumate
Subject: The Beethoven Foundation (501 C3 Organization)
Hello fellow piano techs,
Has anyone had any dealings with an organization called The Beethoven Foundation? According to their website, this 501 C3 charitable foundation provides free pianos to talented young people by receiving donated pianos and then selling them to raise money. I have been asked to provide an appraisal for a client who is purchasing one of their pianos. Any information that anyone can provide will be greatly appreciated.
Thank you,
Alicia Shumate, RPT
Charlotte, NC
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Alicia Shumate
Charlotte NC
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