American Psychiatric Association - Donations
American Psychiatric Association - Donations
Resources for Donating Books & Journals
to Developing Nations
Melvin Sabshin Library & Archives
The following two web sites overlap a good deal in content, but each has some unique information or special features:
Donors wishing to take a deduction from their annual income tax should consult
IRS Rules and Regulations regarding such deductions. At the list of publications, search for:
- Publication 526, Charitable Contributions, and
- Publication 561, Determining the Value of Donated Property.
Generally, the fair market value of a gift-in-kind is deductible. A donation within a tax year valued at $250 or more requires a written acknowledgment from the recipient. Currently, a taxpayer must file
Form 8283, "Noncash Charitable Contributions," (Section A) if the fair market value of the donation exceeds $500. If the donation is valued at more than $5,000, the donor must obtain a
qualified appraisal and submit an appraisal summary with the tax return claiming the deduction. A copy of the appraisal must also be given to the recipient."
The "fair market value" for scholarly books and journals is a matter of interpretation. However, there are
two general approaches you may wish to consider: cost to the donor or current (i.e., replacement) value.
Using "cost to donor," one would use the face value of a book (often listed on the back cover or reverse of the title page). For a journal, this would be the subscription price or, where a
journal is included with a membership, the portion of membership dues (currently $79/year for the American Journal of Psychiatry, for example) that covers the journal's cost .
For "current (replacement) value," one might use the list price for a used book via Amazon or Alibris (matching the edition and general
condition of the book in hand). For books which may be of interest to collectors (e.g., first editions, very old, or author autographed books), a search in Alibris,
BookFinder, or other antiquarian
book seller (e.g., see AcqWeb's Directory of Rare and Antiquarian Book Vendors) may be useful as
well. For journals, the current or replacement value calculation is less clear. An "asking price" per issue or per volume may also be found via Amazon, Alibris or at the publisher's own
journal web site. Here prices can vary dramatically. Bearing in mind IRS requirements, at the very least a donor should keep a detailed record of the methodology used for calculating the deduction.