Personal Property
What are Personal Property Gifts?
You can use artwork, coins, and other collectibles to make a generous gift to Robin Hood. Depending on the property you give us, we may either keep your property and use it for our charitable purposes or sell it and use the proceeds to fund our mission.
We may also accept gifts of other forms of personal property, such as equipment or supplies you no longer need and that might be useful to Robin Hood. Please discuss these items with us prior to your donation to determine which ones we will be able to put to productive use.
How It Works
You give your personal property to Robin Hood. Either we will keep your property and use it to serve our mission, or we will sell your property and use the proceeds to fuel our work.
Maintaining valuable collectibles, such as works of art or antiques, can be a big responsibility. By giving your collectible to Robin Hood, you will no longer be responsible for keeping it secure, preventing its deterioration, or paying to insure it against damage or loss. If you are in this situation, consider making a gift of the item(s) to us.
Why It's Right for You
A gift of personal property may be right for you if:
- You own artwork, antiques, or a collection of value that you no longer want.
- You own other personal property that would be useful to Robin Hood.
- You want to save income taxes or capital gains taxes.
- You would like to make a gift to Robin Hood.
Frequently Asked Questions
What can I give?
You can use artwork, coins, and other collectibles to make a generous gift to Robin Hood. Depending on the property you give us, we may either keep your property and use it for our charitable purposes, or sell it and use the proceeds to fund our mission.
What are the tax benefits to making a personal property gift?
Whether or not we are able to put your gift property to a related use, you will avoid all potential capital gains tax on your property. If you were to sell property that is considered a collectible, you would have to pay a special 28% tax on the difference between its current value and what you paid for it, rather than the 15% tax applied to sales of securities. You may also save estate taxes, as once you give your collectible or other personal property to Robin Hood, the property will no longer be part of your estate.
Are there appraisal requirements?
Yes, You will need a qualified independent appraisal of your property in order to establish the value of your gift. If you give personal property valued at $5,000 or more and you wish to take an income tax charitable deduction for your gift, you will need to include this appraisal with your federal income tax return.
Should I consult Robin Hood before making my gift?
Yes, it is important that you discuss with us the personal property you are considering for donation before you make your gift. We want to be sure that we can accept the property you have in mind. In addition, we will want to discuss with you what will happen to your property once we receive it. We want to be sure we will be able to carry out your wishes. This discussion will also help you anticipate the likely tax benefits of your gift.
FIND THE BEST GIFT FOR YOU
Not sure where to start? Learn more and compare giving options here.
Find the Best GiftContact us
We would love to speak with you and share information on gift strategies that can help you support Robin Hood and provide benefits to you and your family.
Austin Wrubel
Director of Planned Giving
212-844-3521
wrubel@robinhood.org
If you have already put Robin Hood in your estate plans, please let us know.