Tangible Personal Property
Did you realize that valuable antiques, stamp and coin collections, works of art, cars, boats, and other personal property may be able to be used to support our work? Donors who are making plans to liquidate their estates often consider making a tangible personal property gift to Saint Michael's College. Some of your personal items may make suitable charitable gifts today or in the future. In some cases you may be able to use your non-income producing property in exchange for a federal income tax charitable deduction. The financial benefits of the gift depend on whether we can use the property in a way that is related to our mission.
For example, related use property – e.g. selected books or musical instruments - may be accepted and therefore they would be deductible at the full fair market value. These sorts of specialty gifts, are considered and reviewed on a case-by-case basis by the College's Gift Acceptance Committee.
Please contact Ms. Phung Pham, Individual and Planned Giving Officer, at 802-654-2646 or firstname.lastname@example.org for more details if you are considering making a gift of tangible personal property to the College.
- Contact Ms. Phung Pham at 802-654-2646 or email@example.com for additional information on giving a gift of personal property.
- Seek the advice of your financial or legal advisor.
- If you include Saint Michael's College in your plans, please use this sample bequest language, which includes our legal name and our Federal Tax ID number.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.