Donate Your Personal Property
Don't need it? help us with it
What you don't need anymore can give help and hope to children suffering from extreme generational poverty!
God Said Go can receive and liquidate your appreciated tangible personal property valued at $1,000 or more. We handle the administrative burden by working to sell the asset for you and then use the proceeds for your favorite causes within the ministry of GSG. If the assets have appreciated in value since you purchased them, donating them will usually provide you with a greater tax deduction than if you sell them yourself and donate the proceeds.
Types of personal property that can be donated to GSG include:
Here’s how it works (using a painting as an example)
Note: This scenario represents an example of the benefits of donating personal property. It does not represent actual donors of GSG.
1. James and Jane donate a painting to GSG. They purchased the painting years ago for $50,000, but today it’s worth $500,000. When they donate the artwork to GSG, they are able to take a charitable tax deduction for the $500,000 value and pay no capital gains on the asset transfer.
2. Since they are in a 35% federal and 6% state tax bracket, their charitable deduction will be $205,000. When they subtracted their purchase price for the artwork from their tax deduction, they were thrilled to discover that they were able to provide $500,000 worth of impact on the mission field and realize a net gain of $155,000!
3. James and Jane inform GSG of their preferences for use of the proceeds from the sale of their donation within the ministry.
4. GSG sells the painting and uses the proceeds according to James and Jane’s preferences.
For more information:
If you have any questions or wish to start the process for your gift, please email us at [email protected] or call us at 816-622-2560.
DISCLAIMER: This web page is designed to provide information and illustration of the subject matters covered. It is not intended nor should it be used as legal, accounting or other professional advice. It is always a good idea to seek legal and tax advice from your professional advisor(s).