Gifts of Personal Property
Making a donation of tangible personal property can be an excellent way to save on taxes, dispose of property that is expensive to insure or maintain, and make an impact on the future at UCR.
What is a gift of personal property?
Your treasures such as valuable antiques, stamp and coin collections, works of art, cars, boats, and other personal property can be suitable charitable gifts today or after your lifetime.
Here's the process:
You transfer a painting, antiques, collectibles, or any other unneeded personal property to UCR. We may hold the property and display or utilize it in some manner, or we may sell the property and use the proceeds to advance the mission of our university.
Most gifts of personal property are made outright. This allows you to impact the future at UCR today. You may also receive a federal income tax charitable deduction when you itemize. There are other methods for gifting personal property, such as leaving property in your will or trust, or creating a bargain sale, charitable gift annuity, charitable remainder trust, or donor advised fund. Contact the Office of Gift Planning today for more information on these options.
Benefits of gifts of personal property
- Receive gift credit and an immediate income tax deduction for the appraised value of your gift, provided your gift satisfies the "related use" requirements of the IRS.
- Pay no capital gains tax, provided your gift satisfies the "related use" requirements of the IRS.
- In some instances, fund a gift that pays you income, such as a unitrust.
- Attain the satisfaction of making a significant gift to UCR without adversely affecting your cash flow.
If you have any questions about gifts of personal property, please contact us. We would be happy to assist you and answer any questions you might have.