Outright Gift or Bargain Sale

Turn Your Treasures Into a Charitable Legacy

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 a MultiCare program or 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.

Ways to Use Property as a Donation

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 a MultiCare program or foundation by donating property to a MultiCare program or foundation 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 a MultiCare program or foundation of $30,000.

A memorial or tribute gift. If you have a friend or family member whose life has been touched by a MultiCare program or foundation, consider making a gift in their name.

An endowed gift. Create an endowment or contribute to one that is already established to ensure that your support of a MultiCare program or foundation 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.

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Free resources to help you plan

This comprehensive estate planning kit will help you protect loved ones, organize everything in one place and save on taxes.

Download My Kit

The MultiCare Foundations are proud to provide free and confidential estate planning services through Thompson & Associates for friends like you.

Estate planning services

The MultiCare Foundations have also partnered with FreeWill to offer you a secure, online estate planning tool that can help you write your legal will — entirely free of cost.

Write my will

Free resources to help you plan

The MultiCare Foundations are proud to provide free and confidential estate planning services through Thompson & Associates for friends like you. Learn more

The MultiCare Foundations have also partnered with FreeWill to offer you a secure, online estate planning tool that can help you write your legal will — entirely free of cost. Learn more

Next Steps

  1. Contact our gift planning team at 253-403-1264 or plannedgiving@multicare.org for additional information on giving a gift of personal property.
  2. Seek the advice of your financial or legal advisor. (Need an advisor? Look here for advisors familiar with MultiCare foundations and services.)
  3. If you include a MultiCare program or foundation in your plans, please refer to our sample bequest language and use our legal name and federal tax ID number.
  4. If you have already named a MultiCare program or foundation in your plans, please let us know so that we can carry out your wishes as intended and thank you for your gift.