Gifts in Kind and Furniture Donations
The President’s Home Preservation Society is delighted to consider your donation to the President’s Home. Before the committee is able to accept a donation on behalf of the College, we will need a current photo of the item and any information you can provide about its history. Following a timely assessment of the item’s compatibility to our vision, we will contact you with an answer.
If Stephens College can accept the donation, the following materials will need to be submitted.
- A completed donor valuation form (PDF)
- An IRS 8283 Noncash Charitable Contributions form (PDF) if the value exceeds $500 (Instructions for filling out the IRS form)
- A formal appraisal (if the value exceeds $5,000)
In addition, you will be responsible for all shipping charges for the item.
There are strict IRS requirements governing donations of gifts in kind. We encourage you to check out the rules of donation at www.irs.gov. Please consult your tax advisor on any questions you may have on the deductibility of any gift over $500 and in completing IRS form 8283. If the item you wish to donate is valued at more than $5,000, please provide a formal appraisal.
The Stephens College Office of Philanthropy will supply an official receipt for the item according to IRS guidelines to aid you in claiming a deduction. The item and accompanying paperwork must be received by the College no later than December 20th of the given tax year for the College to acknowledge the gift in that calendar year.
We want and need items that fit within our vision of renovation. We must reserve the prerogative to move any item to another facility on campus or to sell it. The College complies with the IRS in completing form 8282 upon the sale of disposal of gifts over $5,000. There are many unforeseen variables, so we cannot guarantee that we will keep your donated item for a specified amount of time.
Thank you for your interest in supporting the President’s Home. If you have any questions, please feel free to contact the Office of Philanthropy at (877) 876-7156.
Libby Taylor Reid ’71
Chair, President’s Home Preservation Society