Gifts of tangible personal property such as artwork, books, equipment, collections, antiques, and other personal property are sometimes appropriate gifts to Mississippi College and can entitle the donor to an important tax deduction.
A donor may be allowed to deduct the property’s full fair market value – up to 30 percent of your adjusted gross income – as long as the property is determined to by MC to be related to the University’s educational purpose and you have held it more than one year.
Before making a gift of personal property, please consult with the University to confirm that the property can be used according to your wishes and in support of MC’s educational mission. Gifts of personal property are treated as a Gift-in-Kind and thus special rules apply to the acceptance of the property. The Gift Acceptance Committee and other appropriate University personnel will be consulted to approve the property gift prior to acceptance of the gift.
See special rules for Gifts-in-Kind.
For information on gifts of personal property, contact: Barbara Brown King at 601.925.3968.