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Legacy Giving

Tangible Personal Property

Goal: Make a gift of real property, such as coins, stamps, antiques or art
Benefit: A charitable tax deduction and the possibility of income for life if done through a trust

Tangible Personal Property, such as art, jewelry, coin collections and household furnishings can be gifted recognizing that there are specific guidelines from the IRS as to the tax deductibility of the gift. Two key issues to be considered before contributing a gift of this type is whether or not the item(s) can be put to related use or whether its use or function is related to the tax-exempt purpose of the charity to which it is donated.

The IRS has very specific guidelines for appraising and reporting gifts of tangible personal property, which must be followed to support a charitable income tax deduction.

There are also requirements regarding the size and value of the gift and time frames within which reports must be filed. Gifts such as these may require approval by our Board of Directors.

Return to the Legacy Giving home page or to the Legacy Giving Options page.

For more information or a confidential discussion of your charitable options, please email or call Kim Malhotra at (650) 259-0157. Gatepath® is a 501 (c)(3) organization. Our nonprofit status makes your donation tax-deductible. Federal Tax ID# 94-1156502. Thank you for helping make a difference in the lives of people with disabilities.

Please note, individual financial circumstances will vary. The information on this site does not constitute legal or tax advice, either in whole or in part. Donor stories and photographs are for purposes of illustration only. As with all tax and estate planning, please consult your attorney or estate specialist. All material is copyrighted and is for viewing purposes only. Use of this site signifies your agreement with the terms of use. The content in this Legacy Giving section has been developed for Gatepath by Future Focus. Please report any problems to section webmaster.