Other Assets - Princeton Theological Seminary

Gifts of Personal Property

Do you have prized assets, like a family-owned business, a collection of historic artifacts or art, a boat or a plane?

Gifts of Tangible Personal Property

Gifts can take many shapes and sizes. Prized possessions such as collections of historic artifacts or art, boats or family owned businesses all can make wonderful gifts to enhance our mission. Giving one of these unique gifts requires a special process, but we can help you along the way.

Benefits for you:

  • Generous support to Princeton Theological Seminary
  • Possible income tax deduction
  • Avoid capital gains tax for long-term property gifted and used to achieve our mission
  • Remove the asset from your estate

Next Steps

Contact us to talk more specifically about options and benefits.

Gifts of Securities

Giving appreciated securities might help you minimize your tax burden or make a larger contribution.

Gifts of appreciated stocks, bonds and mutual funds

Giving in sensible and effective ways may help minimize your tax-burden and stretch your charitable dollars.

A gift of appreciated securities provides meaningful support for Princeton Theological Seminary and may offer you benefits of reduced tax liability. When you make a gift of appreciated securities, which you have held for more than 12 months, you may avoid the long-term capital gains tax and may deduct the full fair market value of the securities you give.

Gifts of appreciated securities include stocks, bonds, or mutual fund units. The following are some ways that securities held long-term (more than 12 months) can offer potential tax savings:

  • Eliminating the capital gains tax on the appreciation that would have been due had you sold the securities on the open market and then donated the proceeds.
  • Claiming a charitable deduction against up to 30% of your adjusted gross income. Deduction amounts exceeding this limit may be carried forward over the next four years.

To achieve these benefits, your securities must be transferred to Princeton Theological Seminary, not sold, redeemed or exchanged. If they are sold from your account, the gift becomes a cash gift rather than a gift of securities, and you will personally realize any capital gains.

If you are considering a gift of securities that have decreased in value since purchase, it may be more advantageous for you to sell them and then claim the loss on your tax return, and then contribute the cash proceeds for a charitable deduction.

Next Steps

  • Let us know you intend to transfer securities by contacting us before you make the transfer. See the contact information below for details.
  • Transfer securities: share transfer instructions with your broker. Publicly traded securities can be transferred electronically from a brokerage account to Princeton Theological Seminary.

If you plan to transfer securities toward the end of the year, please plan in advance. Year-end is the busiest time of year, and transfers can vary drastically in time needed to complete. Only gifts completed by December 31 help to reduce taxes you owe next April.

Gifts of Real Estate

Do you have real estate that you are not using now or might consider as a gift later?

Making a gift of your real estate can have a substantial impact on Princeton Theological Seminary and provide you with some great benefits.

An outright gift of real estate to Princeton Theological Seminary can have a dramatic impact on our mission for many years into the future. If the property has appreciated in value and you have held the property for more than 12 months, you may be eligible for a federal income tax deduction, may avoid the capital gains tax on the appreciation, and will remove the property from your taxable estate. Plus you no longer have the burden of property maintenance, property tax, insurance and other aspects of property ownership.

Aside from giving the property “outright” today, there are other ways you might consider making a gift of property:

  • Retained Life Estate: you can deed your real estate to Princeton Theological Seminary, receive current tax benefits and still make full personal use of your real estate for the rest of your life. Under this arrangement, you continue responsibility for all maintenance, insurance and taxes until possession transfers to Princeton Theological Seminary after your lifetime. Your current tax deduction is based on the fair market value of your home minus the present value of the life tenancy you have retained.
  • Charitable Remainder Trust: your real estate can fund a charitable unitrust that will pay you an income for life.
  • Testamentary: through your will or trust, you may direct the transfer of your property to Princeton Theological Seminary. As a testamentary gift, the real estate transfer and any resulting tax benefit occurs after your lifetime; there is no current tax benefit, although some may be realized later. In case your family’s circumstances change, you can change your will or trust and direct the real estate where it is needed.

Next Steps:

  • Please contact us to discuss your generous offer of real estate
  • Check with your professional advisors for guidance on how this fits into your financial and estate plans
  • Assessment: we work with you and your advisors to ensure that the gift is right for both you and Princeton Theological Seminary. Each offer of real estate is assessed for marketability and evaluated for any conditions that may be a liability, risk, or obstacle for Princeton Theological Seminary to own or sell the property
  • Fair market value: the IRS requires that you get independent appraisal to provide the fair market value of the property.

Contact us to talk more specifically about options and benefits.