Art For Charity
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Art For Charity
Art for charity is the practice of using art in some way to serve charitable causes. Artists may produce works specifically to be sold for charity or creators or owners of artistic works might donate all or part of the proceeds of sale to a good cause. Such sales are often conducted by auction An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition ex .... Investors look at both auctions and donations to art-related charities when considering philanthropy opportunities. Alternatively, works may be exhibited (and possibly be available for sale) with ticket sales being donated. Such exhibitions sometimes incorporate art related to or by those who benefit from the charitable donations. History Art for charity has roots going back to the early twentieth century. For example, in 1933 an art exhibi ...
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Charity (practice)
The practice of charity is the voluntary giving of help to those in need, as a humanitarian act, unmotivated by self-interest. There are a number of philosophies about charity, often associated with religion. Etymology The word ''charity'' originated in late Old English to mean a "Christian love of one's fellows", and up until at least the beginning of the 20th century, this meaning remained synonymous with charity. Aside from this original meaning, ''charity'' is etymologically linked to Christianity, with the word originally entering into the English language through the Old French word ''charité'', which was derived from the Latin ''caritas'', a word commonly used in the Vulgate New Testament to translate the Greek word ''agape'' (), a distinct form of love (see the article: Charity (virtue)). Over time, the meaning of ''charity'' has evolved from one of "Christian love" to that of "providing for those in need; generosity and giving", a transition which began with the Old ...
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Donation
A donation is a gift for charity, humanitarian aid, or to benefit a cause. A donation may take various forms, including money, alms, services, or goods such as clothing, toys, food, or vehicles. A donation may satisfy medical needs such as blood or organs for transplant. Charitable donations of goods or services are also called ''gifts in kind''. Donating statistics In the United States, in 2007, the Bureau of Labor Statistics found that American households in the lowest fifth in terms of wealth, gave on average a higher percentage of their incomes to charitable organizations than those households in the highest fifth. Charity Navigator writes that, according to Giving USA, Americans gave $298 billion in 2011 (about 2% of GDP). The majority of donations were from individuals (73%), then from bequests (about 12%), foundations (2%) and less than 1% from corporations. The largest sector to receive donations was religious organizations (32%), then education (13%). Giving has ...
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Auction
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory. The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than the previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically. Auctions are applied for trade in diverse contexts. These contexts include antiques, paintings, rare collectibles, expensive wines, commodities, livestock, radio spectrum, used cars, real estate, online advertising, vacation packages, emission trading, a ...
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Artist–Museum Partnership Act
The Artist–Museum Partnership Act is a United States bill that was proposed to amend the Internal Revenue Code of 1986 to allow taxpayers who create literary, musical, artistic, or scholarly compositions or similar property a fair market value (determined at the time of contribution) tax deduction for contributions of such properties, the copyrights thereon, or both, to certain tax-exempt organizations, if such properties are properly appraised and are donated no sooner than 18 months after their creation. The bill would place limits on the amount of such deduction based upon the donor's artistic adjusted gross income, as defined by this Act. The bill was first introduced to the United States Congress by Democratic Senator of Vermont, Patrick Leahy Patrick Joseph Leahy (; born March 31, 1940) is an American politician and attorney who is the senior United States senator from Vermont and serves as the president pro tempore of the United States Senate. A member of the Democ ...
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