Gifts of Real and Tangible Property
Gifts of Real Estate
Almost any type of real property - a personal residence, farm, vacation home, commercial building or an undeveloped parcel of land - can become a gift that benefits the donor and the university. If you are considering a gift of real estate, please contact us. We will be glad to discuss the potential gift and whether your property will be an effective contribution for you and Eastern. All gifts of real property require the approval of the University's Board of Trustees. Also, at the University's expense, Eastern will complete an Environmental Review.
Gifts of Tangible Personal Property
Tangible personal property includes artwork, jewelry, antiques and other physical objects. A gift of tangible personal property must be considered long-term appreciated property to receive full tax benefits. Your income tax deduction will depend on the appraised value (as determined by a qualified appraiser), whether the donated item can be linked to Eastern's mission and the length of the time the University keeps the property. If the gift cannot be linked to the University's mission, your charitable deduction is restricted to the item's cost basis. Gifts of tangible personal property must be evaluated on an individual basis.
Planned Giving Offices
James G. Rogers, CPA, Vice President