Giving and Loaning Art to CharityGiving and Loaning Art to Charity

Paul R. Comeau & Alexander M. Popovich

Herbert Vogel, a retired postal worker, and his wife, Dorothy Vogel, a former librarian, spent 45 years amassing a collection of more than 4,000 pieces of artwork. On April 11, 2008, they announced their intention to donate 2,500 pieces of their collection — with 50 select pieces going to a museum in each of the 50 states.¹

The Vogels' grand donation illustrates two major trends regarding art collections in the United States:² First, the value and size of private art collections have grown in recent years.³ Second, increasing amounts of artwork being displayed in museums are either donated or on loan from private collections.⁴

The result is that advisors can expect to have at least one client who'll be...