Donating Complex Assets
One of my most enjoyable moments at the Community Foundation was watching a Sotheby's auction featuring a flawless 10-carat diamond. As bids soared past half a million dollars, we eagerly anticipated the outcome. The proceeds from this sale were directed into a fund at the Community Foundation for the donor to allocate to their chosen nonprofits, benefiting local youth development and social justice initiatives.
Most of us donate through cash or checks—maybe gifts of securities—but did you know you can donate unusual or complex assets? Things like jewelry, cars and boats, real estate, art collections, or ownership stakes in businesses.
Sometimes nonprofit organizations are equipped to receive those donations directly. Or, they use a reputable charitable partner to facilitate the gift, like WKNO’s Vehicle Donation Program. Community foundations can accept all sorts of complex gifts that can then be turned into direct support for the causes and organizations you care about.
Email Managing Director of Philanthropic Services Caroline Kuebler or call her (901) 722-0036 to learn more.