Non-Cash Gifts

Non-Cash Gifts

Non-cash gifts come in many forms, from stocks, cars and real estate, to furniture, building materials, clothing, food, paintings, and collectibles. Services you might perform for free for the University are not considered tax-deductible gifts, although any costs you accrue as part of the work done (such as paint for painting you do) are deductible.

  • For instructions for gifts of stocks and other securities, please click here.
  • For gifts of real estate, please contact Brad Mylett at bmylett@miu.edu or Eric Stakland at eric.stakland@miu.edu.

For other property donations, you may help us by filling out the form available below. It will be sent directly to us when you click the submit button. Or you can contact us at 641-472-1180, or giving@miu.edu. We will in turn contact you to coordinate our receiving and recording of your gift.

Although most non-cash gifts are welcome, it should be kept in mind that for various reasons MIU may not accept every gift offered. Therefore, it is necessary for MIU to evaluate gifts before final acceptance.

As is true of all donations, gifts of property must be recorded at the Development Office in order to be acknowledged as official donations to the University.

NOTE: If you have arranged with someone at the University where the donation will be utilized, that person will coordinate with us for the proper accounting of the gift.

Once we receive the gift we will send you a letter that can be used for tax purposes.

The Internal Revenue Service states that the more detailed the description of the gift, the more valid the thank you letter will be for tax purposes. The full description will be included in the letter we issue.

Extra items needed

In addition to filling out the form, if you can provide the following it will help with this process:

  • Digital photos of the item(s)
  • Photos of any receipts for the original purchase of the item
  • If the valuation of the gift is over $5000, the IRS requires an independent appraisal by an appraiser qualified to put a value on that type of property, so a digital copy of any such appraisal would be best

Also, a form 8283 is required to be filled out if any donated property is given a value of over $500. The form 8283 has a section to be filled out by an appraiser, which is required if any item or collection has a value of over $5000. (Instructions can be found at https://www.irs.gov/instructions/i8283)

The actual form can be downloaded here. You should be able to type into the form, have your appraiser add items (in Part IV), and then you can save it and send it along with any other extra items specified above to giving@miu.edu. Please specify “Non-Cash Gift” in the subject line of your email.

MIU does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. You should consult your own tax, legal, or accounting advisors for the proper evaluation of your gift and the preparation of any tax forms.

 



Non-Cash Gifts 2

Non-Cash Gifts 2

Non-cash gifts come in many forms, from stocks, cars and real estate, to furniture, building materials, clothing, food, paintings, and collectibles. Services you might perform for free for the University are not considered tax-deductible gifts, although any costs you accrue as part of the work done (such as paint for painting you do) are deductible.

  • For instructions for gifts of stocks and other securities, please click here.
  • For gifts of real estate, please contact Brad Mylett at bmylett@miu.edu or Eric Stakland at eric.stakland@miu.edu.

For other property donations, you may help us by filling out the form available below. It will be sent directly to us when you click the submit button. Or you can contact us at 641-472-1180, or giving@miu.edu. We will in turn contact you to coordinate our receiving and recording of your gift.

Although most non-cash gifts are welcome, it should be kept in mind that for various reasons MIU may not accept every gift offered. Therefore, it is necessary for MIU to evaluate gifts before final acceptance.

As is true of all donations, gifts of property must be recorded at the Development Office in order to be acknowledged as official donations to the University.

NOTE: If you have arranged with someone at the University where the donation will be utilized, that person will coordinate with us for the proper accounting of the gift.

Once we receive the gift we will send you a letter that can be used for tax purposes.

The Internal Revenue Service states that the more detailed the description of the gift, the more valid the thank you letter will be for tax purposes. The full description will be included in the letter we issue.

Extra items needed

In addition to filling out the form, if you can provide the following it will help with this process:

  • Digital photos of the item(s)
  • Photos of any receipts for the original purchase of the item
  • If the valuation of the gift is $5000 or greater, the IRS requires an independent appraisal by an appraiser qualified to put a value on that type of property, so a digital copy of any such appraisal would be best

Also, a form 8283 is required to be filled out if any donated property is given a value of $500 or more. The form 8283 has a section to be filled out by an appraiser, which is required if any item or collection has a value of $5000 or more. (Instructions can be found at https://www.irs.gov/instructions/i8283)

The actual form can be downloaded here. You should be able to type into the form, have your appraiser add items (in Part IV), and then you can save it and send it along with any other extra items specified above to giving@miu.edu. Please specify “Non-Cash Gift” in the subject line of your email.

MIU does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. You should consult your own tax, legal, or accounting advisors for the proper evaluation of your gift and the preparation of any tax forms.

Kendra Morrison — Finding Inspiration in Community

Kendra Morrison — Finding Inspiration in Community

April 18, 2022 • ISSUE 619

Kendra Morrison

Finding Inspiration in Community

MIU film student Kendra Morrison grew up in Daytona, Florida. Her interest in photography developed early in childhood and manifested in making home movies with her siblings. In her senior year of high school she decided to become a filmmaker. She has studied cinematography on her own and learned graphic design through an internship.
 
When she saw an ad for MIU, she became intrigued by the film department and the Transcendental Meditation® program. She joined the online Cinematic Arts and New Media program in the summer of 2020 and moved to campus six months later.

Acting as the talent in the Film Equipment Mastery class

“It’s great to have all the resources, time, and people to work with on your projects,” she said. “Everything we need is available to make a movie.” Kendra has already made several experimental short films, including a music video.
 
Kendra enjoys trying her hand at various other forms of media, including graphic design and digital music production. She also loves collaborating with classmates and people from the Fairfield creative community. “I like doing film because I want to empower people and build communities,” she said.

Getting ready to shoot a short film last summer

The Transcendental Meditation technique has helped Kendra find inner peace and balance in life. “TM helps me remember that everything is all right, and it keeps my head clear so I am more open to inspiration.”
 
Kendra is now focusing on practicing her screenwriting skills while working on several story ideas in various genres, such as Western, television, and mockumentary. She gathers inspiration from the people she meets, as well as from her family history. “I like to develop characters first and let the action emerge from the characters,” she said. Kendra also wants to make more music videos with local artists and return to her childhood hobby of songwriting.

Chris Kein — Passion for Learning and Mentoring

Chris Kein — Passion for Learning and Mentoring

April 11, 2022 • ISSUE 618

Chris Kein

Passion for Learning and Mentoring

MIU alumnus Chris Kein is the director of Information Systems and Technology at AITACS, an international IT service company, where he oversees business development, delivery, and new product development. His job involves traveling in North America in search of new projects, clients, and talent.
 
A native of Singapore, Chris earned his MBA from the University of Missouri and started his first IT company in 1997. Since then he has worked for various IT companies in a variety of leadership roles in the US and Southeast Asia.
 
Among Chris’s passions are lifelong learning and self-improvement, and he strives to stay up to date in his field by taking courses and earning new certifications. In 2008 he decided to get his second MBA to “upgrade his skillset.”

With his colleagues at AITACS

As a result of his interest in personal development he had known about Maharishi and the Transcendental Meditation® technique, so he decided to enroll in MIU’s MBA in Accounting Program. He learned the TM® and TM-Sidhi® programs and enjoyed his stay in Fairfield.
 
“When you are getting older, you experience more pressure in life,” he said. “I notice how TM reduces stress and anxiety and improves relationships with co-workers. It has also increased my job satisfaction, performance, and productivity.”

Planting a tree with the prime minister of Singapore

Chris is also passionate about training and mentoring young graduates. Over his career he has recruited dozens of people out of college and helped them integrate into their work environment and grow their careers. He has continued to nurture his relationships with his mentees as they moved up to more senior positions.
 
“I try to learn from other people, and I get great ideas from young people from different cultures,” he said. “It improves what I am doing.”
 
Chris believes in living a contented life and creating a positive impact not only for himself but for others.