Gifts to Vassar College are tax deductible. The IRS requires donors to submit Form 8283 for gifts of property valued at more than $500 (single or in the aggregate) for which a charitable deduction is sought. In addition, for items valued at more than $5,000.00 the IRS requires that “Qualified Appraisals” be obtained if the donor wishes to take a tax deduction for the value of the gift. In order for Vassar College to formally count your donation as part of a class gift, an appraisal is required. Please note that appraisals are solely the responsibility of the donor. The cost of an appraisal may be tax deductible. In accepting an appraisal, Vassar is not undertaking to determine that it is a “Qualified Appraisal” as required by the Federal Income Tax Regulation. It is always best for the donor to review this and other important tax matters with his or her own tax advisor or attorney. For further information please contact the Office of Donor Relations in the Development Office, Vassar College, Box 14, Poughkeepsie, New York 12604-0014, (845) 437-7547. Donors of gifts valued at more than $500 are required to complete a Vassar College Deed of Gift form.
Please note that once your gift is received by the College we cannot accommodate an appraiser; therefore, if you are considering a tax deduction and wish to have your collection appraised, you should do so prior to making the donation.
