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Gifts of Tangible Personal Property

YOUR COLLECTIBLE TREASURES MAY MAKE YOUR PHILANTHROPIC VISION A REALITY.

Giving art, jewelry, rare books or manuscripts and other collectibles to UCLA provides you with tax advantages and the satisfaction of a legacy that will benefit generations to come.

A Lifetime's Legacy

BENEFITS

  • Receive a charitable income tax deduction based on the full fair market value of your personal property if it is accepted into UCLA's permanent collections or used in a way that relates to the university's educational and research mission. (Property must be owned for more than one year.)
  • Benefit from an estate tax deduction (if your estate is subject to estate tax) when you donate your personal, collectible property to The UCLA Foundation through your will or living trust.
  • If your personal property has appreciated in value since its purchase, you may avoid capital gains tax by donating it instead of selling it.
  • Eliminate items from your estate that may be subject to tax and that may also be difficult and expensive to insure.

HOW IT WORKS

  • If UCLA uses the property for a purpose related to the campus' educational mission, you may then take an income tax deduction for the full fair market value of the property at the time the gift is made.
  • If the value of the donated property exceeds $5,000, you must seek a qualified appraisal (from an independent professional) in order to substantiate the charitable income tax deduction amount.
  • If your personal property does not relate to the university's mission and you would like to donate it for UCLA to sell, your tax deduction is based on the item's cost basis (what you originally paid for it).
  • You may also direct the use of sale proceeds to any department or program you wish.
  • If the gift is made through your will or living trust, your estate could receive an estate tax deduction for the full fair market value of the property left to the university (if your estate is subject to estate tax). Please contact UCLA's Office of Gift Planning for assistance with appropriate language to include in your estate plan.
  • Each gift of personal property is unique and the issues related to its use can be complex. If you are considering such a philanthropic gift, please contact UCLA's Office of Gift Planning for specific and personalized information.

Contact Us

800-737-UCLA (8252) • giftplanning@support.ucla.edu

UCLA's gift planning professionals are happy to provide you and your legal and financial advisors with more information on the transfer of appreciated securities, bonds and mutual fund shares and provide assistance with your gift designation. Any information in this publication is not intended as legal, accounting, or financial advice. Please consult with your tax, legal, and financial advisors to ascertain whether this gift option and other gift plans are in keeping with your own tax and financial needs. Conversations with the university's gift planning team are always confidential and never imply obligation.

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Read the latest news from campus: How campus units are collaborating to provide PPE for medical staff • UCLA researchers and global effort to test therapies • A summary of the "CARES Act" Congress signed into law and Gift Planning news. read more

New Tax Law Changes with the CARES Act

Congress recently passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) that includes several charitable tax provisions to encourage giving. These include:

  • A new deduction for donors who do not itemize when filing their tax returns. If you do not itemize but make a cash gift to charity, you will be allowed to take a special tax deduction, up to $300, to reduce your tax liability.
  • An increase in the deduction limit up to 100% of a donor's annual income for cash gifts (previously the deduction was capped at 60% of annual income). If you make a gift, you will be able to deduct more this year.

If you are interested in learning more about these opportunities, please contact UCLA's Gift Planning team at 800-737-8252 or at giftplanning@support.ucla.edu. Please also let us know how we can help you during this time.