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 The Nature Conservancy.
The same benefits also encourage gifts of personal property: artwork, collectibles, 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 The Nature Conservancy – a requirement for you to claim a full deduction. Don't give us personal property with the instruction that the items be liquidated for cash, because the IRS will then limit your charitable deduction to your cost basis in the property.
We do reserve the right sell or otherwise dispose of property at a later date, if it can no longer be used or properly cared for by us.
- You will need to secure an independent appraisal of the property to establish the amount of your deduction.
- Most gifts of personal property are made to The Nature Conservancy outright. In some cases, it may be possible for you to arrange for life income to be paid to you in return for the gift. Consult with your advisors and our office before proceeding with such a plan.
A gift of personal property is for you if ...
- You hold artwork, books or collectibles that you no longer wish to maintain.
- You hold equipment, supplies, or other items that would be useful to us.
- You want to avoid capital gains tax on the transfer of these assets.
Related Use Requirements
To obtain a full, fair-market-value deduction for your gift of personal property, the items you give us must relate to our overall charitable purpose and functions. A gift of unrelated property, or a gift that you instruct us to liquidate immediately for cash, will return a deduction for just your cost basis in the assets.
We will work with you and your advisors on this point as you consider a personal property gift.
Information That May Interest You ...
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You can protect rivers and other natural places by making a planned gift with The Nature Conservancy. Contact us today.