Skip to Main Content
 
High Museum of Art Atlanta Atlanta Symphony Orchestra Alliance Theatre at the Woodruff
High Museum of Art Atlanta Planned Giving Atlanta Symphony Orchestra Planned Giving Alliance Theatre Planned Giving

Gifts of Artwork, Antiques, Furniture

Turn Your Treasures Into a Charitable Legacy

Tangible personal property, such as artwork, antiques and furniture, may be donated during or after your lifetime. The Alliance Theatre, Atlanta Symphony Orchestra, High Museum of Art and The Woodruff Arts Center must give special consideration to such gifts before it can accept them, and we advise you to contact us if you are contemplating donating tangible personal property.

A donor of tangible personal property is potentially entitled to claim an immediate income tax charitable deduction and avoid capital gains taxes. The extent of the allowable income tax deduction for such a gift, however, would depend on whether the property is used in a manner related to the organization’s tax-exempt mission.

*Note on gifts of artwork: If you are considering donating a work of art to the High Museum, please contact a curator in the appropriate curatorial department to talk about your proposed gift

Ways to Use Property as a Donation

An outright gift. This allows you to benefit our work today and receive a federal income tax charitable deduction when you itemize.

A gift in your will or living trust. You can leave a legacy by donating property to one of the Art Partners or The Woodruff Arts Center through your will or living trust.

A bargain sale. You can sell us your property for less than the fair market value of the item. For example, if you sell us an antique for $25,000 that is worth $50,000, you will receive a federal income tax charitable deduction of $25,000 plus the payment from us of $25,000.

A memorial or tribute gift. If you have a friend or family member whose life has been touched by us, consider making a gift to us in his or her name.

An endowed gift. Create an endowment or contribute to one that is already established to ensure that your support of the Alliance Theatre, Atlanta Symphony Orchestra, High Museum of Art or The Woodruff Arts Center will last forever.

A charitable gift annuity. You can sometimes use non-income producing property such as valuable stamp and coin collections or works of art in exchange for life payments and a federal income tax charitable deduction. The amount of the charitable deduction depends, in part, on whether the donated items are retained by the charity and used for its tax-exempt purpose.

A charitable remainder trust. You may be able to contribute tangible personal property to a charitable remainder trust. If you or a family member is an income beneficiary, you will receive a federal income tax charitable deduction when the property is sold. An additional contribution of cash or appreciated securities is recommended to cover expenses until the tangible personal property is sold.

A donor advised fund. Gifts to donor advised funds are not limited to cash and securities. Tangible personal property such as valuable antiques, stamp and coin collections, art, cars and boats may be able to be gifted and sold to benefit your fund.

Not Sure How to Begin Planning?

Download My FREE Personal Estate Planning Kit

Download

Next Steps

  1. Contact Nicole Michalec at 404.733.4612 or nicole.michalec@woodruffcenter.org for additional information on giving a gift of personal property.
  2. Seek the advice of your financial or legal advisor.
  3. If you include The Woodruff Arts Center in your plans, please use our legal name and federal tax ID.

Legal Name: The Robert W. Woodruff Arts Center
Address: 1280 Peachtree Street NE, Atlanta, GA 30309
Federal Tax ID Number: 58-0633971

Legal Name: The Alliance Theatre, Atlanta Symphony Orchestra or High Museum of Art, a division of the Robert W. Woodruff Arts Center
Address: 1280 Peachtree Street NE, Atlanta, GA 30309
Federal Tax ID Number: 58-0633971

Discover More

View My Free Brochure

A charitable bequest is one or two sentences in your will or living trust that leave to The Robert W. Woodruff Arts Center a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to The Robert W. Woodruff Arts Center, a nonprofit corporation currently located at 1280 Peachtree Street NE, Atlanta, GA 30309, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

Or

"I give to The Alliance Theatre, Atlanta Symphony Orchestra, and/or High Museum of Art, a division of The Robert W. Woodruff Arts Center, Atlanta, Georgia, a nonprofit corporation currently located at 1280 Peachtree Street NE, Atlanta, GA 30309, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to The Woodruff Arts Center or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support your mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to The Woodruff Arts Center as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to The Woodruff Arts Center as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and The Woodruff Arts Center where you agree to make a gift to The Woodruff Arts Center and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

First name is required
Last Name is required
Please include an '@' in the email address

eBrochure Request Form

Please provide the following information to view the brochure.

First name is required
Last Name is required
Please include an '@' in the email address