Did you realize that valuable antiques, stamp and coin collections, works of art, cars, boats, and other personal property can be used to support our students and programs? Your treasures can make suitable charitable gifts today or after your lifetime. The financial benefits of the gift depend on whether we can use the property in a way that is related to our educational mission.
Related use property—e.g., 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 exceeds $5,000, you must obtain an appraisal from a qualified appraiser and submit a special IRS form with the tax return on which the deduction is claimed.
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.
Gifts That Pay
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.
- Contact Cal Poly's Office of Gift Planning at 805-756-7125 or firstname.lastname@example.org for additional information on giving a gift of personal property.
- Seek the advice of your financial or legal advisor.
- If you include Cal Poly in your plans, please use our legal name and Federal Tax ID.
Legal Name: California Polytechnic State University Foundation
Address: Heron Hall, Building 117, San Luis Obispo, CA 93407-0444
Federal Tax ID Number: #20-4927897
Not Sure How to Begin Planning?Download our FREE Personal Estate Planning Kit