Outright Gift or Bargain Sale

Valuable items like antiques, stamp or coin collections, works of art, cars, boats, and other personal property can be meaningful charitable gifts—either during your lifetime or through your estate.

The financial benefits depend on whether the property can be used in a way related to our mission:

  • Related-use property (e.g., artwork given to an art museum) is generally deductible at full fair market value.

  • Nonrelated-use property is deductible at the lesser of fair market value or your tax basis in the property.

For gifts valued over $5,000, the IRS requires a qualified appraisal and a special tax form when claiming your deduction.

Ways to Use Property as a Donation

Your valued assets—from antiques and artwork to stamp collections or even vehicles—can create a lasting impact at University of the Cumberlands. Here are several giving options to consider:

  • Outright Gift
    Make a gift today to support our mission and receive a federal income tax charitable deduction when you itemize.

  • Gift in Your Will or Living Trust
    Leave a lasting legacy by including a gift of property in your Will or Living Trust.

  • Bargain Sale
    Sell your property to the University for less than its fair market value. For example, selling us an antique worth $50,000 for $25,000 gives you both $25,000 in cash and a $25,000 charitable deduction.

  • Memorial or Tribute Gift
    Honor a loved one touched by Cumberlands with a gift in their name.

  • Endowed Gift
    Establish or contribute to an endowment fund so your gift provides perpetual support for students and programs.

  • Charitable Gift Annuity
    Use non-income-producing property—such as valuable collections or artwork—in exchange for lifetime income payments and a charitable deduction. The deduction depends partly on whether the charity uses the property for its mission.

  • Charitable Remainder Trust
    Contribute personal property to a trust that provides income for you or loved ones for life or a set term. Afterward, the remaining assets support the University.

  • Donor-Advised Fund
    You can give tangible personal property like antiques, art, or vehicles to your donor-advised fund. The property is sold, and the proceeds support the causes you care about.

Location

6191 College Station Drive Williamsburg, KY 40769

Phone Number

606-539-3571

Email address

[email protected]

Next Steps

  • Contact Tyler Smith at 606-539-3571 or [email protected] for additional information on giving a gift of personal property.
  • Seek the advice of your financial or legal advisor.
  • If you include Cumberlands in your plans, please use our legal name and federal tax ID.

Legal Name: University of the Cumberlands, Inc.
Address: 6191 College Station Drive, Williamsburg, KY 40769
Federal Tax ID Number: 61-0470593

Bequest of Specific Dollar Amount or Percentage of an Estate 
“I hereby, give, devise, and bequeath $ DOLLARS, or ___% PERCENTAGE of my estate to University of the Cumberlands,  a nonprofit organization located at 6191 College Station Drive, Williamsburg, KY,  40769 Federal Tax ID #61-04710593, for its general use and purpose.” 
 
 
 
Bequest of Specific Personal Property 
“I hereby, give, devise, and bequeath (DESCRIPTION OF PROPERTY) to University of the Cumberlands, a nonprofit organization located at 6191 College Station Drive, Williamsburg, KY,  40769 Federal Tax ID #61-04710593, for its general use and purpose.”