Artwork and Personal Property
Foundation
Artwork and Personal Property
You can contribute artwork and personal property before or after your passing that will not affect your cash flow and have little to no legal expenses. This is an option if you have property you no longer wish to maintain, equipment the foundation may be able to use to support its mission and/or you would like to avoid capital gains tax on the transfer of the assets.
How It Works
- If you are considering a donation of artwork or personal propert, first discuss with your financial and/or legal advisor(s).
- Have the asset appraised within 30 days of the planned donation.
- Get in touch with us to discuss the asset you wish to donate by contacting Foundation@optica.org or Kristen Wesley. Deputy Senior Director, Development, at +1.202.416.1441.
- The Optica Foundation may hold and display the work or use it in the furtherance of its mission OR the foundation may sell the property at some point in the future and use the proceeds towards its mission
Benefits
- You receive an immediate income tax deduction for the appraised value of your gift and pay no capital gains tax, so long as the gift can be used by the Optica Foundation to carry out its mission.
- Without using cash, you can make a gift that is immediately beneficial to the Optica Foundation.
