Tag Archives: Escrow Path

Resolution Re Establishing Collection Preservation Program

To download the text only, without the website apparatus, please click
Resolution—Collection Preservation Program.

Preamble The Board of Trustees (“Board”) of the Flag Heritage Foundation (“Foundation”) takes notice that a number of collections of flag books and flag- and symbol-related documentation of significant scholarly value are dispersed when their owners die or are incapacitated without having made adequate provision for their collections to be preserved in permanent institutions. The heirs to these collections sometimes do not fully appreciate their scholarly value, or the benefit to the world of preserving their integrity and availability to scholars.  They may therefore take the short-term profit gained by selling off the most valuable books, and discard the rest, whose value they do not understand.  Even if they wish to preserve the collection for scholarly use, often they do not have the expertise or resources to do so. To help correct this problem, and in accord with the mandate of the Foundation, found in Article Third of its Trust Declaration, to “preserve … flags and artifacts related to them,” to “support the conducting … of research in … private libraries,” to “make grants for any of the foregoing purposes,” and to “take …
» Continue Reading: Resolution Re Establishing Collection Preservation Program

Read More

Collection Preservation Program

Collections of flag books (and flag- and symbol-related documentation) of significant scholarly value are often dispersed when their owners die or are incapacitated without having made adequate provision for their collections to be preserved in permanent institutions.

The heirs to these collections sometimes do not fully appreciate their scholarly importance, or the benefit to the world of preserving their integrity and availability to scholars.  They may therefore take a short-term profit by selling off the most valuable books, and discard the rest, whose value they do not understand.  Even if they wish to preserve the collection for scholarly use, often they do not have the expertise or resources to do so.

The best solution to this problem is for collectors, while still competent, to draft and put into place provisions to move their collections out of their estates.

This can be done by separating out a life estate (so the collector can keep possession while he lives) and donating the remainder to a permanent institution like a university library. Or it can be done by creating a trust and donating the collection there.  When the collector dies (or earlier if he wishes) the collection will not pass to his heirs, …
» Continue Reading: Collection Preservation Program

Read More

To donate research materials, objects or collections

The Flag Heritage Foundation is a tax-exempt non-profit foundation.  Contributions of objects and collections are tax-deductible under section 501(c)(3) of the Internal Revenue Code. Some of the Foundation’s collections were given as donations, and we would be pleased to consider receiving research materials, collections, and individual objects as a way to preserve them.  The Foundation would also be grateful to receive collections, objects or funds by legacy. Collections (or remainders) may also be given to the Foundation under its Escrow Path program, to hold temporarily and then place in a permanent institution such as a university library.  Escrow Path gifts qualify for tax deductions.  For more on the Escrow Path, please look here. To discuss donating research materials, objects or collections, please send us an e-mail about it with your contact information and we’ll be in touch.

Read More