Unlike Certified Public Accountants, attorneys, Certified Financial Planners and Real Estate Appraisers, the current qualification requirements for appraising personal property and deconstructed materials are not rigorous enough to ensure proper education and experience are attained. Until 2018, appraisers with zero graduate or postgraduate education could be grandfathered into trusted organizations or associations for membership - despite not having the education or experience required to faithfully produce qualified documentation.
The inclusion of sub-par appraisers in the industry has not only cultivated an environment of distrust for those looking to make personal property and building material donations, it has also created a dangerous environment for both consumers of appraisal services and nonprofits dependent on these donations to fulfill their missions. Uneducated and unexperienced appraisers may potentially artificially or unknowingly inflate values, miscalculate the quantity and quality of materials, or improperly utilize depreciation methods. In these cases, taxpayers may unwittingly file returns with those appraisals and values attested to on the necessary 8283 Tax Form, putting themselves into a situation where they could potentially be audited with substantial penalties*.
A qualified appraisal is made, signed, and dated by a qualified appraiser in accordance with generally accepted appraisal standards. A qualified appraisal meets the relevant requirements of Regulations Section 1.170A-12c(3) and Notice 2006-96, 2006-46 I.R.B 902. The title of “qualified” relates to an appraisal made no earlier than 60 days before the date of contribution of the appraised property. A qualified appraisal does not involve a prohibited appraisal fee, meaning no part of the fee arrangement can be based on a percentage of the appraised value of the property.
Our fees are dictated only by the amount of time and research it will take our team to create the qualified appraisal.
Please see tax guidelines for non-monetary charitable donation deductions via the Internal Revenue Service's webpage
Instead of taking advantage of a broken system, The Green Mission Inc. works with green industry leaders and appraisal standard boards and other relevant decision makers to insist upon raising the bar across the appraisal industry. We work to promulgate appraiser..
Read MoreThe Green Mission Inc. is headquartered in beautiful and historic downtown Fredericksburg. Our office embodies our mission with secondhand furnishings and decorations courtesy of Goodwill and Fredericksburg's Habitat for Humanity ReStore.
