A gift of personal property is for you if…
The IRS gives donors who contribute appreciated property, like securities and real estate, two tax breaks: a charitable deduction for the full fair market value of the asset, and no capital gains tax on the transfer to Presence Health.
The same benefits also encourage gifts of personal property: artwork, antiques, equipment, and other items that help us advance our mission.
If you are considering such a gift, please talk with us first. We can determine if the items can be used by us – a requirement for you to claim a full deduction. If you donate personal property that is liquidated for cash, the IRS will limit your charitable deduction to your cost basis in the property.
We do reserve the right to sell the property at a later date if it can no longer be used or properly cared for by Presence Health.