EFTA01927790.pdf

To: Jeffrey [email protected]] From: Richard Joslin Sent Wed 4/23/2014 9:53:09 AM Subject FW: 1 request a (private) meeting with you. From: Richard Joslin Sent: Tuesday, April 22, 2014 6:47 PM To: Ada Clapp Cc: Eileen Alexanderson Subject: RE: As for the charitable pledges, we met previously and this was assigned to me as part of my art project. I am not sure why we are returning to this issue. As fact finding continues, I will enlist your help if there are legal matter that need clarification. As for jewelry, I am now responsible for maintaining, reviewing and updating the inventory list that was started prior to my arrival. I update and add information to this list based on new information and reviewing existing records and with input from the Black's; Examples of changes may be based on FX and wire confirmations, invoices and sales tax return review . I document changes and open questions in our working file. In some instances the existing files had errors and I made corrections. If you are implying that I may be making uninformed or misguided changes, then rest assured I am making changes based on empirical facts based on good judgment and hopefully from all the facts that we have in files. The jewelry risk is not final. Eileen and I discussed providing the list to Peggy/DRB. From: Ada Clapp Sent: Tuesday, April 22, 2014 5:03 PM To: Richard Joslin Cc: Eileen Alexanderson Subject: RE: EFTA_R1_00375631 EFTA01927790 With all due respect, Rich, I believe the question is for Eileen to resolve. For your information, and I were working on the art together, including promised works, before you arrived and documenting the gifts involves legal work. Regarding the jewel list, I think it would have been prudent to show me a final draft of the list before you sent it toning since I prepared the predecessor list with I also think it would be smart to have me look at all the lists and get my input given how involved I was in preparing the predecessor versions. Again, that is entirely Eileen's call. -Ada From: Richard Joslin Sent: Tuesday, April 22, 2014 4:01 PM To: Ada Clapp; Richard D'Agostino Cc: Eileen Alexanderson Subject: RE: The issue of going to museums etal to finish the documentation of pledges has been an outstanding assignment of and myself. The list provided to EA was for Narrows LLC only. We need to centralize the provision of information from a single source and not have multiple purveyors. I am working on the lists for the item below — The jewelry list is already circulated and note that that is under review by Peggy/ When changes come back, I can circulate an update from thr master jewelry list. Also, there may be additioanl items of jewelry that are not accounted for, i.e review of this inventory is not complete. Tangible Personal Assets I I I I EFTA_R1_00375632 EFTA01927791  Household personal property ACCOUNTING CAN (furniture, furnishings, etc.) ACCOUNTING CAN 2013/214 ACQUISIT. Jewelry SCHEDULE AVAIL/ Automobiles ACCOUNTING CAN From: Ada Clapp Sent: Tuesday, April 22, 2014 2:57 PM To: Richard D'Agostino Cc: Eileen Alexanderson; Richard Joslin Subject: Hi Rich, In connection with the estate overview, earlier today I sent you the attached two lists which Rich J. provided to Eileen. It seems that the lists do not include the Scream (for which Leon paid $120 million) and the Turner (valued in the July appraisal at $80 million). Please add these two values to the total of art owned by entities. Also—Rich J, to my knowledge, Leon has not yet gifted the 25% interest in the Richard Serra (Torqued Ellipse IV) that he was required to give to MoMA in 2003. Tom has no record of the transfer or of taking a charitable deduction for the fractional interest gift. This would mean that Leon continues to own a 75% interest in the work, rather than the 50% interest you have noted on your list. Eileen, will Rich J be following up to ensure that the gift is made and properly documented or shall I? EFTA_R1_00375633 EFTA01927792 Ada Clapp Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Direct Dial Fax: Email: IRS Circular 230 Disclosure: Pursuant to IRS regulations, I inform you that any tax advice contained in this communication (including attachments) is not intended or written to be used, and cannot be used, by any person or entity for the purposes of (i) avoiding tax related penalties imposed by any governmental tax authority, or (ii) proposing, marketing or recommending to another party any transaction or matter discussed herein. I advise you to consult with an independent tax advisor on your particular tax circumstances. This communication and any attachment is for the intended recipient(s) only and may contain information that is privileged, confidential and/or proprietary. If you are not the intended recipient, you are hereby notified that further dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and notify me immediately that you have received them in error. Thank you. EFTA_R1_00375634 EFTA01927793