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Your treasures like valuable antiques, stamp and coin collections, works of art, cars, boats and other personal property can make suitable charitable gifts today or after your lifetime. The financial benefits of the gift depend on whether the Montana Community Foundation can use the property in a way that is related to our mission.
Related use property—e.g., a piece of artwork donated to an art museum—is deductible at the full fair market value. Any other property is deemed nonrelated use property and the deduction would be limited to the lesser of fair market value or your tax basis in the property.
If the federal income tax charitable deduction claimed for a gift of tangible personal property exceeds $5,000, you must obtain an appraisal from a qualified appraiser and submit a special IRS form with the tax return on which the deduction is claimed.
An outright gift. This allows you to benefit our work today and receive a federal income tax charitable deduction if you itemize.
A gift in your will or living trust. You can leave a legacy at the Montana Community Foundation by donating property to MCF through your will or living trust.
A bargain sale. You can sell us your property for less than the fair market value of the item. For example, if you sell us an antique for $30,000 that is worth $50,000, you will receive a federal income tax charitable deduction of $20,000 plus the payment from MCF of $30,000.
A memorial or tribute gift. If you have a friend or family member whose life has been touched by MCF, consider making a gift in their name.
An endowed gift. Create an endowment at MCF or contribute to one that is already established to ensure that your support of your favorite charities will last forever.
A charitable gift annuity. You can sometimes use non-income producing property such as valuable stamp and coin collections or works of art in exchange for life payments and a federal income tax charitable deduction. The amount of the charitable deduction depends, in part, on whether the donated items are retained by the charity and used for its tax-exempt purpose.
A charitable remainder trust. You may be able to contribute tangible personal property to a charitable remainder trust. If you or a family member is an income beneficiary, you will receive a federal income tax charitable deduction when the property is sold. An additional contribution of cash or appreciated securities is recommended to cover expenses until the tangible personal property is sold.
A donor advised fund. Gifts to donor advised funds are not limited to cash and securities. Tangible personal property such as valuable antiques, stamp and coin collections, art, cars and boats may be able to be gifted and sold to benefit your fund.
Legal name: Montana Community Foundation
Address: 33 S. Last Chance Gulch, Ste. 2A Helena, MT 59601
Federal tax ID number: 81-0450150