Answers to Your Prospects' Questions: Personal Property

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	1.	What are the benefits of donating personal property? You receive an income tax deduction equal to the appraised fair market value of the property, with no capital gains tax due on its transfer to us. You can make a gift using property that you no longer need or are able to maintain.
	2.	Are there any additional tax considerations with these gifts? Donors do face a hurdle they don't have to deal when giving securities or real estate. To be deductible at fair market value, items of personal property must be related to the tax-exempt functions of our organization. In other words, we have to be able to use them. Property gifts that are unrelated to our mission may only be deducted at the donor's cost basis.
	3.	How will the value of my gift of personal property be determined? For all gifts of personal property worth more than $5,000, fair market value will be determined by an independent appraisal that you will obtain.
	4.	Can I use personal property to fund a life-income gift? In some cases, yes. A transfer for that purpose would generally be considered an unrelated use, reducing your charitable deduction. Be sure to consult with your advisors before making a gift decision.

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Answers to Your Prospects' Questions: Personal Property

What are the benefits of donating personal property?

Are there any additional tax considerations with these gifts?

How will the value of my gift of personal property be determined?

Can I use personal property to fund a life-income gift?

Ask Brian