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Gifts-In-Kind include Art, Real Estate or other Property or Equipment that can assist Kansas Wesleyan University with usage or from the value of the sale of said gift.
Works of art, museum objects, rare books, historical documents, manuscripts and other property can be useful to KWU, while providing substantial benefits to you as well. Gifts of personal property, however, are subject to certain conditions that do not apply to other outright gifts. For example, for a gift of personal property to be deductible at full fair market value, it must be directly related to the mission of the university. If you wish to donate items valued at $5,000 or more, a qualified appraisal is needed to receive a tax deduction.
Corporations and businesses may qualify for a tax deduction when contributing equipment, inventory or other assets used in the course of business. Equipment and other assets may need to be valued by an independent appraiser for tax purposes. A corporation or business’ charitable donation is limited to their cost basis when contributing their inventory.
Real Estate: Farmland or a home you no longer need can have a significant impact when donated to KWU. Most real estate held for a length of time has appreciated in value and offers great potential for charitable giving.
Gifts of appreciated real estate qualify for an income tax deduction equal to the current appraised value of the property. By transferring real estate directly to the Kansas Wesleyan University, you also avoid paying capital gains tax.
Please refer to our Gift-in-Kind Contribution Form 2014 (pdf).pdf or contact us: