A gift of personal property includes equipment, inventory, books, works of art, or other tangible property. Gifts of personal property are accepted by Maritime College. Gifts-in-kind will be used to benefit the unit, college or department of Maritime as designated by the donor.
Acceptance of the gift is based on whether the College can use the gift in furtherance of its mission. Consideration will be given to the cost of accepting and maintaining the gift as well as costs associated with potential re-sale of the gift.
Depending upon the donor's tax circumstances, a charitable deduction may be claimed if the gift is accepted for the College's exempt purposes. If a donor is going to claim a deduction of more than $5,000, IRS Form 8283 is required.
If you are interested in pursuing this type of gift further, please call 718-409-7444 or e-mail firstname.lastname@example.org.
You should always consult your legal or tax counsel on the deductibility of your charitable contributions.