Tangible Personal Property
Turn Your Treasures Into a Charitable Legacy
Your personal property can make suitable charitable gifts, either today or after your lifetime. The financial benefits of the gift depend on how we are able to use the property.
Related use property — for example, a piece of artwork donated to an art museum — is deductible at the full fair market value. Any other property is deemed “nonrelated use property” and the deduction would be limited to the lesser of fair market value or your tax basis in the property.
If the federal income tax charitable deduction claimed for a gift of tangible personal property is greater than $5,000, you must first obtain an appraisal from a qualified appraiser, and submit a special IRS form with the tax return on which the deduction is claimed.
Ways to Use Property as a Donation
- An outright gift: This allows you to benefit NU today and receive a federal income tax charitable deduction when you itemize.
- A gift in your will or living trust: You can leave a legacy at National University by donating property to us through your will or living trust.
- A bargain sale: You can sell us your property for less than the fair market value of the item. For example, if you sell us an antique for $25,000 that is worth $50,000, you will receive a federal income tax charitable deduction of $25,000 plus the payment from us of $25,000.
- A memorial or tribute gift: If you have a friend or family member whose life has been touched by NU, consider making a gift to NU in his or her name.
- An endowed gift: Create an endowment or contribute to one that is already established to ensure that your support of NU will last forever.
- A charitable remainder trust: You may be able to contribute tangible personal property to a charitable remainder trust. If you or a family member is an income beneficiary, you will receive a federal income tax charitable deduction when the property is sold. An additional contribution of cash or appreciated securities is recommended to cover expenses until the tangible personal property is sold.
- A donor-advised fund: Gifts to donor-advised funds are not limited to cash and securities. Tangible personal property such as valuable antiques, stamp and coin collections, art, cars, and boats may be able to be gifted and sold to benefit your fund.
There are many options for giving to National University, and we can help you decide which method works best for your particular needs:
- Contact the Development Office at (858) 642-8807 or firstname.lastname@example.org to talk about supporting NU.
- Seek the advice of your financial or legal advisor.
- If you include NU in your plans, please use our legal name and federal tax ID.
Legal Name: National University
Address: 11255 N. Torrey Pines Road, La Jolla, California 92037
Federal Tax ID Number: 23-7172306