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Art Is a Gift Worth Giving

Derrick CartwrightFor Derrick Cartwright, art is life, life is art and at the University of San Diego, home to four different art galleries, he'll have endless ways to show, through art, all that life has to offer.

Many universities have a single, stand-alone museum, but Cartwright, USD's first director of university galleries, says it's an advantage to oversee and manage these separate spaces, each located in a different part of campus.

The Robert and Karen Hoehn Family Galleries in Founders Hall feature print collections, etchings by Rembrandt van Rijn, woodcuts by Albrecht Dürer and silkscreens by Andy Warhol. The Exhibit Hall in the Student Life Pavilion, although not under his purview, showcases exhibits of student-oriented work. The David W. May American Indian Collection and Gallery in Serra Hall feature art from Native American cultures. The Fine Art Galleries in the Joan B. Kroc Institute for Peace & Justice feature documentary photography depicting social justice issues throughout the world.

"These galleries are special and there's something new and different within footsteps of wherever you may be on campus," says Cartwright, who in August 2012 took the new position. "Our galleries will play a complementary role to culture and will connect art with curriculum as well as to the broader public of San Diego."

Cartwright began his career as an assistant professor of art at USD in 1992. He left USD in 1998 and went on to direct the Musée d'Art Americain Giverny in Normandy, France; the Hood Museum of Art at Dartmouth College; and the San Diego Museum of Art. Most recently, he was the Director of the Seattle Art Museum.

He's excited to be back.

"We can do so much at USD," Cartwright says. "We can be rigorously academic, we can be experimental, and we can be exceptionally nimble. If we want to bring contemporary prints from Brazil to respond to student and faculty interest, we can do that."

Cartwright is also a professor of practice in the Art, Architecture + Art History Department and teaches courses in art history, including how to build a collection and the legal and ethical issues involved. At the end of the course, he explains, he and the students will agree on one work of art to purchase and add to USD's permanent collection.

In fact, for Cartwright, building USD's art collection will always be top of mind. He says USD's best chance to grow its collection is through gifts of artwork from generous donors.

Cartwright looks forward to talking with people who may have artwork they'd like to give to the university. He hopes to add depth to the areas where USD's collection already has strength - primarily in its prints, its documentary photography and its Native American artwork.

"We intend to be good custodians of the works donated to USD," Cartwright says. "Objects will have an impact here over time, and right away. In many museums, a work of art given to the collection just disappears into storage. We'll make every effort to teach with the works we are given and our students will be the beneficiaries of our growth. "

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A charitable bequest is one or two sentences in your will or living trust that leave to the University of San Diego a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to the University of San Diego, a nonprofit corporation currently located at 5998 Alcala Park, San Diego, California, 92110-2492, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

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A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to USD or other charities. You cannot direct the gifts.

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You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to USD as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to USD as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

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