Real estate is often overlooked as a possibility for charitable contribution, but in fact it can be among the most advantageous contribution vehicles for a donor. Personal residences, rental or commercial property, farms and ranches, and undeveloped land are among the possibilities for a contribution of this nature.
Here's an example of how a real estate gift can work to your advantage. If you purchased a property for $25,000 that is now worth $75,000, you can give this property to the SETI Institute and avoid capital gains taxes on the appreciation. At the same time, you can claim the full $75,000 -- the fair market value -- as a charitable tax deduction. You may also qualify for estate tax benefits. Of course, making this contribution also relieves you of maintenance costs, management concerns, and property taxes.
Like any transaction of this nature, making a contribution of real estate requires careful consideration. However, the SETI Institute has experience managing contributions of real estate and would be pleased to work with you. A contribution of real estate could produce tax advantages for you while helping the SETI Institute to continue and expand the search for life in the universe.
If you need your real property to generate income, but would still like to reap the tax advantages of a charitable gift and support the SETI Institute, you might consider contributing real estate through a Planned Giving arrangement. If you'd like to learn more about making a contribution of real estate, please contact us.
If you'd like to learn more, please contact us:
Email us at firstname.lastname@example.org or call us toll free at 1-866-616-3617