Collectibles such as coin and stamp collections, antiques, books, and jewelry—along with software, equipment, boats, yachts, automobiles, and aircraft—are referred to as tangible personal property. Whether purchased or inherited, collectibles that you have enjoyed may now provide more enjoyment and better use if given to the Church or one of its institutions. Gifted items may be used for display, assist in the classroom, or sold for charitable purposes.

The typical donor:

			Has enjoyed using the tangible personal property.
			Does not intend to pass the property to heirs.
			Wants others to enjoy using the property.
			Wants to make an important gift to charity.
			Recognizes a "related use" by the recipient institution.

Gift features and benefits:

			Immediate income tax deduction
			Avoidance of capital gains taxes
			Income tax deduction usually based on fair market value
			Gift can be timed to take advantage of changes in market value

How Do I Make a Gift of a Collectible or Other Tangible Personal Property?
A gift of a collectible or other tangible personal property to the Church or one of its institutions must be reviewed and accepted by LDS Foundation in behalf of the receiving charity. Acceptance of these gifts is based on a number of factors:

			Condition of the tangible personal property
			Potential educational value
			Confirmed "related use" of the tangible personal property by the charity
			Approval by the charity's departmental acceptance committees

Details of delivery and insurance can be discussed with an LDS Foundation professional. For tax purposes, you must obtain your own appraisal to determine the fair market value you claim on your income tax return. Your tax return must include IRS form 8283 signed by your appraiser.

How Do I Make a Gift of a Collectible or Other Tangible Personal Property Using Gift Planning Tools?
Collectibles or other tangible personal property can make an ideal gift at death by Will or Revocable Trust. A gift of a collectible or other tangible personal property made through your will or trust allows you and your family members to enjoy the collectible or other tangible personal property during your lifetime. Then, at your death, the collectible or other tangible personal property is transferred to the Church or one of its institutions. In isolated situations, collectibles or other tangible personal property can also be used to fund a life-income gift such as a Charitable Remainder Unitrust.

Other Facts You Should Know about Collectibles and Other Tangible Personal Property
If tangible personal property gifts have been held by the donor for less than a year, they are considered short-term property and you can claim a charitable income tax deduction for the property's purchase price, or its cost basis. If the property has been held more than one year, or long term, you can claim a charitable deduction based on the fair market value. You may want to consider holding the property until a year passes to take advantage of long-term treatment. LDS Philanthropies professionals will be happy to discuss these options with you and your professional advisors.