Not sure where is the best place to post this.
http://ift.tt/1xEU1U5
http://ift.tt/1xEU2al
Lincoln Center is paying the heirs of Avery Fisher $15 million to get out of the agreement by which Fisher in 1973 donated money in exchange for having his name on Avery Fisher Hall. But if rich people could routinely sell back the naming rights they've bought, it effectively gives them the ability to defer recognizing income for tax purposes. So, while the IRS' position has been otherwise, perhaps the charitable deduction needs to be reduced by some measure of the value of the naming rights. On the other hand naming rights can only be sold back to the same organization that bought them and maybe there is no practical way to value them. The Forbes link discusses pros and cons.
Bonus NYT correction:
Bonus Curb Your Enthusiasm clip at the end of the Forbes piece.
http://ift.tt/1xEU1U5
http://ift.tt/1xEU2al
Lincoln Center is paying the heirs of Avery Fisher $15 million to get out of the agreement by which Fisher in 1973 donated money in exchange for having his name on Avery Fisher Hall. But if rich people could routinely sell back the naming rights they've bought, it effectively gives them the ability to defer recognizing income for tax purposes. So, while the IRS' position has been otherwise, perhaps the charitable deduction needs to be reduced by some measure of the value of the naming rights. On the other hand naming rights can only be sold back to the same organization that bought them and maybe there is no practical way to value them. The Forbes link discusses pros and cons.
Bonus NYT correction:
Quote:
An earlier version of a graphic that appeared with this article misstated the former name of a section of the Metropolitan Opera. It was the Alberto W. Vilar Grand Tier, not Pier. |
Bonus Curb Your Enthusiasm clip at the end of the Forbes piece.
Should Naming Rights Reduce Charitable Deductions?
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