You transfer a valuable painting, antique, or other personal property to Somerset Health Care Foundation.
Somerset Health Care Foundation may hold and display the property or use it in the furtherance of its mission.
Somerset Health Care Foundation 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 Somerset Health Care Foundation 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 Somerset Health Care Foundation in the future.
Without using cash, you can make a gift that is immediately beneficial to Somerset Health Care Foundation.
