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period of January 1915 (only 7 months for 1915) through June 1951
(single issue volumes).
In total, 33,710 newspapers were donated to the SFACA with a
combined weight of approximately 2,170 pounds. The newspapers
were in firmly bound volumes and were in above-average condition.
In 1998, Ohio State University purchased the entire
newspaper collection of the SFACA for $100,000. The Los Angeles
and Chicago newspapers donated by petitioner and Mr. Fagliano
constituted a small portion of the collection purchased by Ohio
State University.
Petitioners’ Federal income tax return for 1991 included a
Form 8283, Noncash Charitable Contributions, claiming a
charitable contribution of $589,925 attributable to one-half of
the value of the Los Angeles and Chicago newspapers donated to
the SFACA. Attached to petitioners’ return was an appraisal,
dated January 25, 1991, from Hal Verb (Mr. Verb). In the
appraisal, Mr. Verb stated that the estimated saleable value of
the newspapers, not including the magazine and Sunday comic
sections, was $1,179,850.4 On the basis of the percentage
limitations on charitable deductions, petitioners limited the
amount of their charitable deduction for the newspapers for 1991
to $144,448 and carried the excess contribution forward to 1992.
4Mr. Verb determined that the newspapers had an average
value of $35 per issue and multiplied this figure by 33,710, the
number of issues donated to the SFACA.
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Last modified: May 25, 2011