Gift of Real Estate
A charitable
gift unearthed
Making a charitable gift of real estate through the Community
Foundation can help you turn your property gains into
community good. The value of your real estate may exceed that of
any other asset you own. With the help of the Community
Foundation, you can use it to fulfill your charitable interests
and receive financial and tax benefits.
A gift of real
estate releases potential that has been tied up for years,
enables you to make a bigger charitable difference than you may
have thought possible, helps you avoid estate taxes, and
minimizes or eliminates burden placed on your heirs. Charitable
gifts of real estate range from personal residences and vacation
homes to rental properties, farmland and commercially developed
land.
You may choose to
give real estate outright and receive an immediate tax deduction
or retain the use of the property during your lifetime and make
a planned gift to the Community Foundation. You may also choose
to convert real estate into a stream of income for the rest of
your life by establishing a Charitable Remainder Trust or
Charitable Gift Annuity with the Community Foundation. Doing
this lets you transform a low-yield asset into a higher-yield,
income-producing asset and claim a tax deduction for the
charitable portion of the gift.
How it works:
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You identify
real estate property that you would like to give; an
appraisal will help you establish its estimated market
value.
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We assess the
real estate for compliance with our acceptance policies and
gather appropriate documentation.
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Your gift can be
placed in any of our existing charitable funds or you can
establish a new fund.
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Your gift
qualifies for a tax deduction based on its full market
value; you avoid the capital gains tax that would otherwise
arise from the sale of the property.
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With gifts of
real estate, your property gains translate into community
impact, so you get a more rewarding return on a major asset.
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We handle all
the administrative details.
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Your gift can be
placed into an endowment that is invested over time.
Earnings from your fund are used to make grants addressing
community needs. Your gift—and all future earnings from your
gift—is a permanent source of community capital, helping to
do good work forever.
