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Gifts of Personal Property

Gift of Personal Property Diagram

How It Works

  • You transfer a valuable painting, antique, or other personal property to Albany College of Pharmacy and Health Sciences.
  • Albany College of Pharmacy and Health Sciences may hold and display the property or use it in the furtherance of its mission.
  • Albany College of Pharmacy and Health Sciences may sell the property at some point in the future and use the proceeds for its mission.

Benefits

  • You receive an immediate income tax deduction for the appraised value of your gift and pay no capital gains tax, so long as the gift can be used by Albany College of Pharmacy and Health Sciences to carry out its mission.
  • In certain cases, you can use personal property to fund a life-income gift that provides you and/or other loved ones with an income now and benefits Albany College of Pharmacy and Health Sciences in the future.
  • Without using cash, you can make a gift that is immediately beneficial to Albany College of Pharmacy and Health Sciences.


The material presented on this Planned Giving website is not offered as legal or tax advice.
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