Gifts-in-kind • Give a Little, Get a Lot
In addition to cash gifts, VIU welcomes gifts-in-kind, such as securities, artwork, books, real estate, equipment and other assets. If you choose to make this type of gift, you and the university will agree on how the gift will be used, however, the university is given the right to keep and use the property or sell it for the proceeds.
You will receive a charitable tax receipt, based on the fair market value of the property on the date of the gift. This value is easily determined for publicly traded stocks and bonds, but a qualified appraiser must determine the value of tangible property if it is valued at over $1,000. The appraiser must not be associated with you or the university, and all charges for the appraisal are your responsibility. Property estimated to be worth less than $1,000 may be appraised by a qualified individual are for the University.
Gifts-in-kind benefit the university in many ways. They may be added to VIU’s collections for the enjoyment of future generations of students and faculty. Proceeds from liquidated gifts-in-kind help provide the support the teaching and research programs of the university.
Benefits to You
- a tax receipt for the appraised fair market value determined the day the gift is made
- claim charitable donations up to 75% of your net income, plus claim 25% of the taxable capital gain resulting from a gift of appreciated capital property
- gifts-in-kind of national importance that are eligible for certification under the federal Cultural Property Export and Import Act may be claimed up to 100% of your net annual income in the year of the gift, and any capital gain triggered by the gift is exempt from inclusion as income
- gifts may be designated to any area such as scholarships, buildings, programs, faculties, divisions or departments to use at their discretion
The staff of the Advancement & Alumni Relations Office would be pleased to assist you and your legal/financial counsel to create a planned gift. Please contact Julie Keenan, Director, Advancement & Alumni Relations Office, at 250.740.6602 or email firstname.lastname@example.org.