| The foundation welcomes gifts of real estate, including income property or a personal residence, farm, vacation home, commercial building, or vacant land.
If you have held the property more than a year, a gift of real estate is deductible for up to 30% of your adjusted gross income for the year you make your gift, with a 5-year carry-forward period available. Your charitable deduction will be limited to the property's cost basis.
Prior to accepting a gift of real estate, we require:
- a site visit
- an environmental assessment
- a qualified appraisal
- a copy of the latest tax assessment
- determination of whether there is a mortgage on the property
- a statement that there is no lien against the property
Real estate may be given as an outright gift, as a retained life estate, as a contribution to a charitable remainder trust, or as part of your will or estate plan.
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