Other Considerations
Other Considerations
Appraisals
You must obtain an appraisal for any non-cash contribution valued at more than $5,000. The appraisal summary section of IRS Form 8283 must be completed and attached to your income tax return on which the deduction is claimed.
No appraisal is required for a gift of publicly traded securities for which market quotations are readily available on an established securities market.
Tax Tip
A charitable gift to the "Imagine. Invest. Inspire." capital campaign should be made on or before December 31 of the year in which you wish to receive the charitable federal income tax deduction and Missouri Income Tax Credit.
Gift Stewardship
Your gift will be used specifically for the purpose(s) for which it was intended and treated with the utmost care and confidentiality per your instructions.
Gift Recognition
All gifts to the "Imagine. Invest. Inspire." campaign qualify for appropriate levels of recognition from the OTC Foundation.
Where to Direct Your Gift
The OTC Foundation is the official recipient for all gifts to the "Imagine. Invest. Inspire." campaign and to OTC.
Checks should be made payable to the OTC Foundation, property should be transferred to the OTC Foundation, and property should be sold in the name of the OTC Foundation.
NOTE: Again, the information provided here is not offered as legal or tax advice. For this advice, please contact your attorney and/or tax professional.