Other Assets

Benefits to you:

• Generous support to First Presbyterian Church Stillwater
• 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

Gifts can take many shapes and sizes. Prized possessions such as collections, historic artifacts, boats or planes can all 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.

The tax deductibility of your gift of tangible assets varies depending on whether it is related to our mission or not:

Fair Market Value: The deduction will be the full fair-market value if the asset use is related to our exempt purposes.

Your Cost Basis: If the asset is not related to our exempt purposes, First Presbyterian Church Stillwater's policy is to sell the property to redeploy the proceeds to advance our mission. Under this scenario, you may be eligible for a tax deduction of your cost basis for the gift.