A gift of personal property includes equipment, inventory, books, works of art, or other tangible property. These in-kind gifts will be used to benefit the program designated by the donor.
Acceptance of the gift is based on whether the University can use the gift in carrying out its mission. Consideration will be given to the cost of accepting and maintaining the gift as well as costs associated with potential re-sale of the gift.
Depending upon the donor's tax circumstances, a charitable deduction may be claimed if the gift is accepted for the University's exempt purposes. If a donor is going to claim a deduction of more than $5,000, the IRS Form 8283 is required. In addition, for gifts valued at $5,000 or more, the donor is required to obtain an appraisal from a qualified appraiser to assure proper tax deductibility.
If you are interested in pursuing this type of gift, please contact Nichole Ipach, 805-437-8893 or firstname.lastname@example.org.
You should always consult your legal or tax counsel on the deductibility of your charitable contributions.