Central Libraries Gift Policies and Procedures
Gifts for Central Libraries
Baylor Libraries welcome financial support that enables us to build, manage and care for our collections.
- The Central Libraries are no longer able to accept gifts of books, recordings, and other materials, due to space constraints and the high cost of processing donated materials.
- Other options include contacting your local public libraries or other charitable organizations such as Better World Books (http://www.betterworldbooks.com/)
- Central Libraries will accept rare or unique materials that Library administration believes will enhance appropriate areas of our collections.
You may wish to contact Beth Farwell, Associate Director for Central Libraries ([email protected]
, 254-710-3679) for more information.
Disposition of gifts
Gifts are accepted if the donor gives full title and control to the Libraries. The donor's signature on the Gift Receipt form
affirms this agreement. Because library materials must be handled in a manner consistent with established library and university procedures, gifts with special conditions governing disposition will be carefully reviewed.
Appraisals and income tax deductions
As charitable donations, gifts of materials to the library may constitute a tax deduction for the donor. Internal Revenue Service regulations make it the responsibility of the donor to obtain legal advice on tax deductions, to arrange for appraisals for materials of significant value, and to maintain an inventory of materials donated. The library, as the recipient, is not permitted to appraise gifts or pay for appraisals.
If you claim a value of more than $5,000 for your donated property, you must have a qualified appraisal. The IRS requires that the appraisal be obtained no earlier than 60 days before the date of gift, or no later than the day before the due date (including extensions) of the income tax return on which the appraised gift is first reported. A qualified appraisal includes statements often not found in typical appraisals. The library may provide assistance as to sources of information for evaluation purposes and suggest appropriate professional appraisers who might be consulted. This information is provided only as a service to our donors. We encourage you to consult your tax advisor on the preparation of this appraisal.
In determining the appropriate amount to claim as a charitable contribution for a gift-in-kind on their federal tax return, donors and their accountants may wish to consult Title 26 of the Code of Federal Regulations and the instructions for IRS Form 8283.