Legal Issues for Private Museums

Tuesday, May 14, 2024 | 4:00 pm – 6:00 pm

Format: Webinar

Register for the Webinar

 

Program Co-Chairs:

Stefanie Roth
Ewenstein & Roth LLP

Katherine Wilson-Milne
Schindler Cohen & Hochman LLP

  • This program will examine what a private museum is and how it fits into our current nonprofit and museum frameworks. The speakers will cover how to set up, run and wind down private museums, focusing on issues specific to private operating foundations generally and those that collect. The program will also cover governance and tax considerations, distinctions from other museums, conflicts of interest and ethical considerations.

    Program Fee:
    $99 for Member | $199 for Nonmember

  • Anne-Laure Allehaut
    Patterson Belknap Webb & Tyler LLP

    Laura Angel-Lalanne
    Schulte Roth & Zabel

    Maura Whelan
    Simpson Thacher & Bartlett LLP

  • 4:00 pm – 4:10 pm
    Introduction & Overview: What is a Private Museum? 

    • History, role in the art world, controversies, popularity
    • Non-profit structuring and unique issues

    Stefanie Roth, Katherine Wilson-Milne

    4:10 pm – 4:40 pm
    How to Set Up a Private Museum – Federal and State Structuring Questions

    • Private operating foundations — how are they different from other nonprofit entities?
    • Applicable state law and regulations –N-PCL, NY Education Law (and related NY Board of Regents regulations)
    • Entity and jurisdictional questions
    • Governance structures

    Laura Angel-Lalanne

    4:40 pm – 5:10 pm
    Self-Dealing and Conflict of Interest in the Private Museum Context

    • IRS guidance/rules applicable to private museums
    • Specific self-dealing/conflict scenarios
    • Resource sharing
    • Gifts vs. loans of art
    • Other

    Maura Whelan

    5:10 pm – 5:35 pm
    Operational Issues

    • Ethical standards (AAM, AAMD) and best practices
    • Key policies
    • Practical considerations
    • Permitted activities

     Anne-Laure Allehaut

    5:35 pm – 6:00 pm
    Long Term Planning Issues

    • What happens when the Founder is no longer alive?
    • Transition to something else vs. shutting down

    Panel

  • New York: 2.0 Professional Practice
    New Jersey: 2.2 General
    California: 2.0 General
    Pennsylvania: 1.5 General
    Connecticut: Available to Licensed Attorneys

  • Sponsoring Association Committees:
    Art Law, Amelia K. Brankov, Chair
    Estate & Gift Tax, Kevin Matz, Chair
    Non-Profit Organizations, Tracy Boak & Katherine Hughes, Co-Chairs
    Trusts, Estates and Surrogate’s Court, Brian P. Corrigan

    Sponsorship Opportunities are Available! Please Contact:
    Yelena Balashchenko, Manager, Business Development & Sponsorships | (212) 382-6608 | ybalashchenko@nycbar.org

Register for the Webinar

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