Did you know donating valuables to a nonprofit has the same impact as mailing a check or cash? In fact, doing so has some additional benefits for both the organization and donor!
When a donor makes a gift of real property to a qualifying charitable organization, generally, the fair market value of the asset at the time of the gift is eligible for a charitable income tax deduction.
By real property, we mean non-financial gifts. This is tangible personal property – things such as equipment, jewelry, vehicles, boats, real estate, etc.