Personal Property

Tangible Personal Property

The Eastern Gateway Community College accepts gifts of personal property such as antiques, paintings, rare collections, automobiles, or other personal property.  You may be entitled to a tax deduction  for the fair market value of the item.   Capital gains tax is avoided when you donate property that is used by Eastern Gateway Community College.

Making it Happen:

  • You transfer personal property (paintings, cars, antiques) to EGCC Foundation.
  • EGCC Foundation may hold the property or use it to further its mission.
  • EGCC Foundation may elect to sell the property and use the proceeds for its programs.

Reward:

  • Donor receives gift credit and an immediate tax deduction for the appraised value of the gift.
  • You pay no capital gains tax, provided that the gift fulfills “related use” requirements of the IRS.  Contact EGCC Office of Advancement to verify gift parameters.
  • You will have the satisfaction of making an important gift fot EGCC without disturbing your cash flow.