Other Assets
Gifts of Tangible Personal Property
Gifts can take many shapes and sizes. Prized possessions such as collections, historic artifacts, boats or planes all can make wonderful gifts to enhance our mission. Giving one of these unique gifts requires a special process, but we can help you along the way.
The tax deductibility of your gift of tangible assets varies depending on whether it is related to our mission or not-related:
The deduction will be the full fair-market value if the asset use is related to our exempt purposes.
If the asset is not related to our exempt purposes, First Presbyterian Church Greensboro’s policy is to sell the property to redeploy the proceeds to advance our mission. Under this scenario, you may be eligible for a tax deduction of your cost-basis for the gift.
- Generous support to First Presbyterian Church Greensboro
- Possible income tax deduction
- Avoid capital gains tax for long-term property gifted and used to achieve our mission
- Remove the asset from your estate
Contact us to talk more specifically about options and benefits.
Thank you for considering this gift!
The gift descriptions are for informational purposes and are not legal or tax advice. To ensure that this gift fits your particular circumstances and planning, please consult with your professional advisers.
Stewardship Staff
Christine Ciaccio
Director of Finance
