Patronage is the support or financial aid that an organization or individual bestows to an organization of public interest such as the Fondation Vasarely, Foundation which is officially recognized by the French State since 1971.

The Foundation welcomes all types of donations.

Donate cash

From a legal perspective, this payment is a lump sum donation of money to benefit the Foundation which does not require any special formalities, regardless of its amount.

In-kind sponsorship

In-kind sponsorships of companies generally take the form of gifts (such as artwork or capital goods) or a provision of services (including personnel) free of cost.

As a patron of the Fondation Vasarely, corporate donors may claim a corporate tax deduction of 60% of the cash or in-kind donation within 0.5% of their annual turnover (any excess amount may be carried forward and deducted the next year for up to 5 years).

We give corporate patrons the opportunity to associate their name with a given event as well as to benefit from other advantages depending on the donation’s nature and amount. An agreement is established between the Foundation and the company to outline the terms of our partnership.

As an individual, you can :

Make a pledge or a lump-sum donation.

A pledged donation is an act signed in the presence of a notary public by which you transfer ownership of a good or donate a substantial sum of money (e.g.: €15,000).

The costs associated with making a donation in France, including the notary’s fees, are paid by the Foundation.

A lump-sum donation is any donation of money (ex: check, wire transfer) or personal property (capital goods, stock, etc.) which does not require a notarized deed.

Donors may claim an income tax deduction of up to 66% of the donation within 20% of their taxable income (any excess amount may be carried forward and deducted the next year for up to 5 years). The reallocation of revenue streams (royalties, stock dividends, rental income, etc.) is also eligible for this deduction.

For cash donations and donations of registered securities from a publicly-traded company, donors may claim an ISF tax deduction of 75% limited to € 50,000 per year (for a payment or donation of € 66,666). For the ISF in 2011, this payment must be made between June 16, 2010 and June 15, 2011. This deduction may not be cumulated with the income tax deduction for the same portion of the donated sum.

Example: For a cash donation of € 100,000 to the Fondation Vasarely, an ISF tax payer may:
- Deduct € 50,000 from the ISF (€ 66,666 x 75%)
- Deduct € 22,000 from income taxes [66% x (€1 00,000 - € 66,666)] for the excess portion.
The net cost of this donation is therefore only € 28,000.

Donate through a bequest

A bequest is an act of donating property by will. It is made by an individual who wishes to support a cause after his or her death.
Donors may bequeath a sum of money, shares, property or furniture, paintings, jewelry, and more to the Fondation Vasarely.

The Fondation Vasarely will devotedly respect the testator’s wishes.

Donors should seek legal counsel or advice from their notary public for further assistance.

Temporarily transfer usufruct of property

The Fondation Vasarely can also benefit from the temporary transfer of usufruct rights over property in order to receive income from that property (rent, financial revenues from registered securities, revenues from art, etc.). In doing so, the donor not only supports our Foundation but may also benefit from income tax and ISF tax deductions during the period of transfer, since ownership of the property is unchanged.

Designate the Fondation Vasarely as beneficiary of a life insurance contract.

The Fondation Vasarely is authorized to receive funds from life insurance contracts. It is exempt from any ownership transfer fees.

Contact :
Fondation Vasarely - Jas de Bouffan - 13100 Aix-en-Provence - France
Tel. +33 (0) 442 200 109
pierre.vasarely@fondationvasarely.org

Pour plus de renseignements sur le mécénat :
Aklea société d'avocats
Stéphane Couchoux, Avocat associé responsable de la ligne de services
"Mécénat, Fondation & Association"
Tél. +33 (0) 442 251 130
scouchoux@aklea.fr

Non contractual document

Notes written with the support of the Akléa law firm