Personal Property

TANGIBLE PERSONAL PROPERTY

Donating a gift of tangible property is a very practical way to give the College. A tangible personal property gift is non-cash, related and useful to the mission of Gordon College, and is transferred voluntarily with no benefit received. Gifts of personal property that can be invaluable to the College include: equipment to be used in a chemistry lab; taxidermy and shell collections for biology students, a painting to be studied by art students; books to be read in the library; and musical instruments used by music majors.

Per IRS standards, Gordon College will not determine fair market value of the gift; however, once the property is received at the College, an official receipt will be sent to you, the donor. Depending on the substantiated value of the gift, Forms 1040 and 8283 may need to be filled out. We advise that you speak with your tax advisor about proper tax reporting.
 

REAL ESTATE

Gifts of real estate can have special benefits for both donor and recipient. Donors who make gifts of real estate receive a charitable deduction for the gift’s full fair market value when held for more than one year. Gifts must meet certain criteria to be accepted, so if you are interested in donating real estate to Gordon College, please reach out to us at 978.867.4900 or  [email protected] and we would be happy to answer any questions.