Jewelry is more than just a pretty item thanks in part to the Kazanjian Foundation.
The foundation sponsors the Jewels for Charity program, which allows people to donate fine jewelry to a charity they choose and, in turn, receive the highest tax benefit possible by law.
The program has star status. The Jewels for Charity Hollywood Collection showcases pieces formerly owned by celebrities including Bing Crosby, Clark Gable, Madonna, Howard Hughes and Eva Gabor. The latest addition to the collection is a sapphire and gold floral-themed necklace with the Prince of Wales emblem previously owned by Princess Diana (this item, however, is not for sale).
The Hollywood Collection hits the road worldwide to fine jewelry stores, galleries and museums. The venues that host the collection are asked to sell the donated jewelry at full fair-market value. In turn, the host donates 30 percent of the profits to a charity of its choice, while the other 70 percent goes to the donor's charity of choice with the donor receiving the tax benefit. The stipulations include that a charity must be 501C (3) nonprofit, tax exempt and domiciled in the United States.
Furthermore, donated jewelry must be valued at more than $10,000 a piece and tour with the collection for two years for sale at the appraised full fair-market value. If a piece goes unsold, it will be auctioned with the profits going to the donor's charity of choice.
Source: nationaljewelernetwork
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