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Gifts of Personal Property

Gift of Personal Property Diagram

How It Works

  • You transfer a valuable painting, antique, or other personal property to Grand Rapids Community Foundation.
  • Grand Rapids Community Foundation may hold and display the property or use it in the furtherance of its mission.
  • Grand Rapids Community Foundation 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 Grand Rapids Community Foundation 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 Grand Rapids Community Foundation in the future.
  • Without using cash, you can make a gift that is immediately beneficial to Grand Rapids Community Foundation.


The material presented on this Planned Giving website is not offered as legal or tax advice.
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