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A Word About Gifts-In-Kind

Gifts-In-Kind typically involve tangible personal property, which may include such things as works of art, books, jewelry, collectibles, antiques, equipment, vehicles, and inventory.

The donor is advised to consult with the donor’s tax advisor, accountant, or attorney regarding the nature of the charitable contribution tax deduction available to the donor.  In general, the tax deductibility of tangible personal property depends upon the nature of the gift property and the property’s benefit to or intended use by the university.

Unless otherwise agreed upon, a gift-in-kind will be entered on the books of the JMU Foundation Inc. upon acceptance of the gift and receipt of a fully executed Gifts-In-Kind Agreement by the JMU Foundation Inc. 

Immediately thereafter, title will be transferred to James Madison University.  Following this transfer, the gift will be entered into the property records of the University.

Please Note: 

  • Only officers of the James Madison University Foundation are authorized to accept gifts-in-kind on behalf of James Madison University.
  • The portion of the Agreement form to be completed by a representative of the University is intended to confirm that the university desires to take possession of the gift property upon acceptance of the gift by the JMU Foundation Inc.
  • Receipt by the JMU Foundation Inc. of a completed Gifts-In-Kind Agreement is required to establish the documentation of the gift’s acceptance for the records of the donor, the JMU Foundation, and the university.

For additional information or to obtain a Gifts-In-Kind Agreement form, please contact the JMU Development Office at (540) 568-4606.

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