MISSISSIPPI COLLEGE EQUESTRIAN PROGRAM
PROCEDURE FOR ACCEPTANCE OF
DONATIONS OF HORSES
Mississippi College will accept donations of horses for the Equestrian Program as set forth herein.
All donors desiring to donate a horse to Mississippi College and to receive a deduction must comply with all applicable IRS regulations (see IRS Publication 536 at www.IRS.gov), including completing and filing Form 8283. Donors who wish to give horses to Mississippi College must have their horses appraised by a qualified appraiser to determine fair market value. For horses with a fair market value in excess of $5,000, an appraisal from a qualified appraiser (as defined by the IRS) is required by the IRS, and Mississippi College must sign the Donee Acknowledgement part of Form 8283 (Section B, Part IV).
Under IRS regulations, Mississippi College must continue to own the horse for three (3) years in order for the Donee to receive the full deduction. In the event that Mississippi College sells or otherwise disposes of the horse within the three (3) year period, Mississippi College must complete and file Form 8282 with the IRS and otherwise comply with IRS rules and regulations.
Evaluation and Acceptance of Donated Horses
All horses to be donated to the Mississippi College Equestrian Program must be evaluated and approved in advance by Providence Hill Farm to determine if the horse can be used by the Mississippi College Equestrian Program. Providence Hill Farm may require the Donee to send a recent video, veterinarian report and/or summary of competition results for the horse prior to acceptance of the horse. In addition, Providence Hill Farm may require the Donee to send the horse to Providence Hill Farm for 1-2 months prior to acceptance for evaluation, with all shipping, board, training and other expenses to be paid by the Donee. Anyone interested in donating a horse to the Mississippi College Equestrian Program should contact Jamie Planck Martin at Providence Hill Farm by email or at 601-925-0557 or Susan Musselwhite at Mississippi College at by email or at 601-925-3257.
Once all appraisal documentation is in order and evaluation/approval steps satisfactorily completed, the Office of Development at Mississippi College will gift receipt the horse and work with the donor to make sure all IRS forms are complete and in order.