Planned Giving

Tangible Personal Property Donations

What You Value Most as a Legacy

Your treasured possessions like valuable antiques, stamp and coin collections, works of art, cars, boats, and other personal property can make suitable charitable gifts today or after your lifetime. Financial benefits of the gift vary whether we can use the property in a way that is related to our mission.

Related use property – e.g., a piece of artwork donated to an art museum-is deductible at the full fair market value. Any other property is deemed nonrelated use property and the deduction would be limited to the lesser of fair market value or your tax basis in the property.

If the federal income tax charitable deduction claimed for a gift of tangible personal property exceeds $5,000, you must obtain an appraisal from a qualified appraiser and submit a special IRS form with the tax return on which the deduction is claimed.

Ways to Use Property as a Donation

  • An outright gift
    This allows you to benefit our work today and gives you an immediate federal income tax charitable deduction.
  • A gift in your will or living trust (Link)
    You can leave a legacy at the Archdiocese of Chicago by donating property to us through your will or living trust and receive a federal estate tax charitable deduction.
  • A bargain sale
    You can sell us your property for less than the fair market value of the item. For example, if you sell us an antique for $25,000 that is worth $50,000, you will receive a federal income tax charitable deduction of $25,000 plus the payment from us of $25,000.
  • A memorial or tribute gift (Link)
    If you have a friend or family member whose life has been touched by the Archdiocese, consider making a gift to us in his or her name.
  • An endowed gift (Link)
    Create an endowment or contribute to one that is already established to ensure that your support of the Archdiocese will last forever.
  • A charitable gift annuity (Link)
    You can sometimes use non-income producing property such as valuable stamp and coin collections or works of art in exchange for life payments and a federal income tax charitable deduction. The amount of the charitable deduction depends, in part, on whether the donated items are retained by the charity and used for its tax-exempt purpose.
  • A charitable remainder trust (Link)
    You may be able to contribute tangible personal property to a charitable remainder trust. If you or a family member is an income beneficiary, you will receive a federal income tax charitable deduction when the property is sold. An additional contribution of cash or appreciated securities is recommended to cover expenses until the tangible personal property is sold.

Next Steps

  • For additional information on giving a gift of personal property, please contact:
    Elin R. Schriver, Planned Giving Relationship Manager
    Archdiocese of Chicago
    835 North Rush Street
    Chicago, IL 60611-3020
    312.534.5396
    eschriver@archchicago.org
  • Seek the advice of your financial or legal advisor.
  • If you include the Archdiocese in your plans, please use our legal name and federal tax ID.

Legal Name: Archdiocese of Chicago or The Catholic Bishop of Chicago

Federal Tax ID Number: 36-2170826

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.