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Office of Gift Planning

Gifts of Tangible Personal Property

Tangible personal property is best described as any objects of value that can be physically touched, excluding real estate. Some common examples of tangible personal property include artwork, books, coins, antiques and other collectibles. The University of North Carolina at Chapel Hill Foundation may be able to accept your property and use in furtherance of our educational mission.

Benefits of gifts of tangible personal property

  • You receive gift credit and an immediate income tax deduction for the appraised value of your gift and pay no capital gain tax, provided your gift satisfies the related use requirements of the IRS.
  • In certain cases, you can use personal property to fund a life-income gift, such as a FLIP unitrust, that benefits The University of North Carolina at Chapel Hill Foundation and provides you with income now.
  • You can have the satisfaction of making a significant gift now to The University of North Carolina at Chapel Hill Foundation without adversely affecting your cash flow.

How it works

You transfer valuable artwork, antiques, collectibles or other personal property to The University of North Carolina at Chapel Hill Foundation. The Office of Gift Planning will work with you to determine if the Foundation can accept your gift, and help you understand how to value your gift for your income tax deduction. The University of North Carolina at Chapel Hill Foundation may elect to hold the property and display or use it in the furtherance of its mission.

Is a gift of tangible personal property a viable option for you? The Office of Gift Planning can help you think through the issues & your planning options. Please contact us for a free, confidential discussion. We would be happy to assist you and answer your questions.

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