- Gift PlanningGift Planning
Gifts of Collectibles, Jewelry, and More
Amherst College accepts gifts of personal property such as fine art, manuscripts, and less traditional items such as collectibles, gold and silver, and jewelry. Such items may be gifted outright, through a bequest, or used to create life income gifts such as a Charitable Remainder Trust.
If the use of the contributed property is related to the exempt purpose of the College, and the College chooses to accept the gift into its permanent holdings, 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 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.
Under certain circumstance, there are opportunities to use an outright gift of highly valued collectibles and jewelry to fund a Charitable Gift Annuity and/or a Charitable Remainder Trust. There are unique advantages for crafting such an arrangement, including:
- A tax deduction
- Secure income for you and/or another
- The knowledge that your gift will further the mission of Amherst College
For more information on any of the above, please contact the Office of Gift Planning.