If you are considering such a gift, please talk with us first. We can determine if the items can be used by us (a requirement for you to claim a full deduction). If you donate personal property that is liquidated for cash, the IRS will limit your charitable deduction to your cost basis in the property.
The Museum reserves the right to sell the property at a later date if it can no longer be used or properly cared for by the Museum.
How It Works
- You transfer a valuable painting, antique, or other personal property to the National Cowboy & Western Heritage Museum.
- The Museum may hold and display the property or use it in the furtherance of its mission.
- The Museum may sell the property at some point in the future and use the proceeds for its mission.
- You receive an immediate income tax deduction for the appraised value of your gift and pay no capital gains tax, so long as the gift can be used by the Museum to carry out its mission.
- Without using cash, you can make a gift that is immediately beneficial to the Museum.
We are pleased to speak with you in confidence about the opportunities available to support the Museum. We are also happy to share more information with you about planned-gifts and how they can meet your personal, financial and philanthropic goals.
For more Information about planned-gifts and leaving your Western Legacy please contact (405) 478-2250 ext. 288 or firstname.lastname@example.org.