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 Mandi Callaway Powers
at Providence Hill Farm by email or
at 601-925-0557 or Mississippi College
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.
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