Artwork, antiques and valuable collections can be a burden if you no longer wish to be responsible for their storage, maintenance, or the insurance to protect against damage or loss. Depending on what you choose to give, we can put it to use or sell it and use the proceeds to address immediate needs.
You may want to give personal property if…
- You have valuable property you no longer want.
- You have property that would benefit Rochester Regional Health.
- You want to save on income or capital gains taxes.
Please consult with us first
We want to be sure that we can accept whatever you are considering giving. And if we can, we want to discuss what will happen to your property once we receive it. This discussion will also help you anticipate the likely tax benefits of your gift.
Harold has been an avid stamp collector since he was a boy. His collection was appraised for insurance purposes last year at $20,000. He paid only about $2,000 for his stamps.
Now in his 80s, Harold is no longer adding to his collection and none of his children have expressed an interest in taking it over. Grateful for the care he received after his heart attack, he decides to turn his collection into a gift.
To say thank you to Rochester Regional Health, while avoiding capital gains tax, Harold sells his stamp collection and passes all proceeds to Rochester Regional.