Gifts of Personal Property
How Can I Make Gifts of Personal Property?
Step 1: Transfer a valuable painting, antiques, jewelry or other personal property to Safe Horizon.
Step 2: Safe Horizon may elect to hold the property and use it for its mission, or Safe Horizon may elect to sell the property and use the proceeds for its programs.
Gifts of Personal Property: Benefits to You
- You receive credit for the gift and an income tax deduction for the appraised value of your gift and pay no capital gains tax, provided your gift satisfies the "related use" requirements of the IRS.
- In certain cases, you can use personal property to fund a life-income gift, such as a FLIP Unitrust, that benefits Safe Horizon but provides you with income.
- You get the gratification of making a significant gift now that would fund Safe Horizon’s work without negatively affecting your current cash flow.
Please note that Safe Horizon will first need to receive an accurate description of the gift to determine if we can accept the personal property.