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Personal Property – A Way to Share Things of Value
What is a gift of personal property?
In certain circumstances, you may be able to gift personal property – artwork, collectibles, and antiques – to The University of North Carolina at Asheville Foundation, Inc.
In order for you to claim a full income tax deduction:
- Your gift of personal property must meet the "related use" requirements of the IRS.
- For gifts whose value exceeds $5,000, you must secure a qualified appraisal to establish the property's current fair market value.
In some cases, gifts of personal property can be used advantageously to fund life-income arrangements such as FLIP Unitrusts, or deferred payment gift annuities.
All gifts of personal property are subject to review and approval by the UNC Asheville Foundation, Inc.'s Gift Acceptance Committee.
This information is not intended to be considered legal, tax or other professional advice. We encourage you to consult an attorney and/or professional tax advisor before making any material decisions regarding this gift option and other matters regarding charitable giving.
Send me a Personal Illustration!
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For more information
E-mail us, complete the Personal Illustration form, or call us at (828) 232-2430 so that we can assist you.
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