How it works
- You transfer a painting, antiques, collectibles or other personal property to OLT.
- OLT may elect to hold the property and display or use it in the furtherance of its mission. OLT may elect to sell the property at some point in the future and use the proceeds for its programs.
- You receive gift credit and an immediate income tax deduction for the appraised value of your gift and pay no capital gains tax, provided your gift satisfies the "related use" requirements of the IRS.
- In certain cases, you can use personal property to fund a life-income gift, such as a FLIP Unitrust, that benefits OLT and provides you with income now.
- You can have the satisfaction of making a significant gift now to OLT without adversely affecting your cash flow.
If you are interested in donating a vehicle, please contact your OLT office for more information vehicle needs.