As Member in a 501 (C) (7) organization --can I donate artwork valued at @$5,000 and use it as a tax deduction.

501(c)(7) organizations are social clubs, and hence gifts you make to them are typically not qualified for tax deduction. From the IRS web site:

"To be deductible, charitable contributions must be made to qualified organizations. Qualified organizations include, but are not limited to, Federal, state, and local governments and organizations organized and operated only for charitable, religious, educational, scientific, or literary purposes, or for the prevention of cruelty to children or animals. Organizations can tell you if they are qualified and if donations to them are deductible. "

So, check with the club - they should be able to tell you whether gifts can be deducted from your taxes.

If it turns out that this is deductible, you will need a written appraisal from a "reputable source" if the value is > $5K. Sounds like you are right at the edge of the requirement.

If you would provide details of the specific work of art including artist name, date created, country of origin, size of image, the original cost basis, and a sample image of the piece I will be happy to provide a professional answer to your question at no cost to your non-profit organization.



Dean Allen Phelps