Amherst College accepts gifts of personal property, such as books, manuscripts, artwork, jewelry, antiques, and real estate, during your lifetime or by bequest. The College must give special consideration to such gifts before it can accept them, and we advise you to contact the gift planning staff if you are contemplating donating such property.
As with gifts of appreciated securities held long term (longer than 12 months), a donor of property held long term and accepted by the College is potentially entitled to claim an immediate income-tax charitable deduction and avoid capital gains taxes. The extent of the allowable income-tax deduction for such a gift, however, depends on whether the College is able to use the property in a manner related to its tax-exempt mission.
If the use of the contributed property is related to Amherst College's exempt purposes (which are quite diverse and varied), the donor is generally entitled to claim an income-tax charitable deduction for the full fair market value of the property (up to 30% of AGI with a five-year carryover). If the use of the contributed property is unrelated to the College's exempt purposes, or if the donor held the property for 12 months or less before making the donation, then the donor's income-tax charitable deduction is limited to the cost basis in the property.
Learn more about gifts of property by following these links:
Note on Gifts of Artwork or Papers and Manuscripts
Artwork and papers and manuscripts are forms of personal property. If you are considering donating a work of art to the Mead Art Museum, or papers and manuscripts to the Frost Library, please first review each department's unique gift acceptance policies, or contact a curator in the appropriate curatorial department to talk about your proposed gift. Alternatively, you may contact the gift planning staff, who can help you navigate the process.
Contact Gift Planning
PO Box 5000
Amherst, MA 01002-5000
Information contained in this website should not be considered legal, accounting, or other professional advice. Individuals considering a planned gift to Amherst should consult with their financial advisor.