Gifts-in-Kind

Virginia Tech benefits from a surprising range of gifts of tangible personal property and gifts-in-kind such as artwork, architectural drawings, athletic equipment, collectibles, books, supplies, and many other items. Both the value to the university and your potential tax benefits depend upon the use of the gift. If your gift qualifies as "related use" -- that is, if it will be used by the university to accomplish its mission -- you can deduct the property's full fair market value.

Examples of such gifts have included musical instruments used by student performers, scientific specimens for study and exhibit, and equipment used by researchers. For tangible personal property gifts with "unrelated use," the donor can typically deduct the cost basis, usually the purchase price paid by the donor for the property. To learn more about donating tangible personal property and gifts-in-kind, contact the development officer for the area of the university you wish to support.