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Gifts of Personal Property

Gift of Personal Property Diagram

How It Works

  • You transfer a valuable painting, antiques, or other personal property to the West Virginia University Foundation.
  • The Foundation will likely transfer it to the University in the furtherance of its educational mission.
  • The Foundation or WVU may sell the property at some point in the future and use the proceeds for its mission.

Benefits

  • You receive an immediate income tax deduction for the appraised value of your gift and pay no capital gains tax, so long as the gift can be used by WVU to carry out its mission.
  • In certain cases, you can use personal property to fund a life-income gift that provides you and/or other loved ones with an income now and benefits WVU in the future.
  • Without giving cash during your life, you can make a gift that is immediately beneficial to West Virginia University.

Next: Tell me more...

Please contact us so that we can assist you through every step of the process.

Questions and Answers


What are the tax benefits of donating personal property?

Can I arrange for a life income stream for my gift of personal property?

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