A donation of real estate allows you to achieve your charitable goals and provides you with the maximum tax benefits allowed by law. There are many reasons why gifts of real estate are a flexible and beneficial option.
The gift is made to the Real Estate Foundation, a public charity, which provides the maximum tax deduction. This allows your donors to broaden their giving options and support the charities they value most. There are a number of ways the proceeds from the sale of the property benefit your nonprofit, including: endowment building, immediate impact through a direct distribution to your nonprofit, or the creation of a designated fund at The Community Foundation of San Luis Obispo County that benefits your organization over time or in perpetuity. Your nonprofit may also choose to offer services, such as charitable remainder trusts funded with a gift of real estate, to donors interested in life-income programs, thereby increasing donor interest in bequests and other planned giving options.
- Through the real estate you own, you can reach a level of giving you might not have considered possible.
- You will receive the maximum tax deduction allowed by law.
- Donating real estate allows you to avoid income, capital gains and estate tax on the sale of your property.
- Use your will or living trust for estate tax relief and a lasting legacy.
- In addition to potential tax benefits from a donation of real estate, you might also be able to receive income from your gift for a period of time or for the rest of your life.
We’ll help you determine the timing and details of your gift. Together we’ll identify your charitable goals and examine how establishing a philanthropic fund, or donating directly to a charitable organization, would best serve your goals. Once your property is sold, the proceeds of your gift may be placed in your named fund at The Community Foundation or contributed directly to the charity of your choice. You may make a charitable gift of real estate through your will or living trust. You avoid potential future estate taxes and your family avoids dealing with the upkeep and sale of the property, liability insurance and property taxes. You can provide instructions to the Real Estate Foundation of San Luis Obispo County in your will or trust about the type of fund you want to establish with the proceeds from the sale of real estate.