A home... a cottage... business property... undeveloped land. If you have appreciated real estate assets that you would like to use for a charitable gift, the Foundation can help turn your property into community gold. The Foundation can accept the gift outright or show you how your property can fulfill your charitable interests.
Once you have identified the property that you would like to give, an appraisal will establish fair market value. Because each gift of real estate is unique, a Foundation staff member would be happy to meet with you to discuss the logistics of making such a gift. We will assess the real estate for compliance with our acceptance policies and gather appropriate documentation.
Your gift qualifies for a tax deduction based upon full market value and you can avoid capital gains tax that would otherwise arise from the sale of your property.
A gift of real estate to the Foundation has several benefits:
Charitable deduction for the fair market value, not the original investment
No minimum value required
Substantial tax savings
Reduction in the size of your estate
Gifts of real estate can save thousands of dollars in income or estate taxes. We accept gifts of residential, commercial or undeveloped real estate.
Donors should consult their professional advisor before donating appreciated real estate.
Real charitable value.
Sandra and Cliff Stewart owned a summer home and had no heirs interested in inheriting it. At first, the Stewarts planned to sell the home and give the proceeds to charity. But after talking with their local community foundation, they realized that giving the home directly to the foundation would create the biggest, most effective gift, while providing the greatest benefits to them as donors.
“It was a great option—we could give our house to charity through the foundation and start any type of fund, not to mention the tax benefits,” says Sandra.
The Stewarts learned they could also retain use of the home for their lifetime. “This way,” Cliff explains, “we can spend our summers enjoying the home for the rest of our lives. And after our lifetime, the community foundation will use the proceeds to make grants from the Sandra and Cliff Stewart Fund.”