Real Estate

Transforming Realty to Gift Reality

Want to make a gift to charity without touching your bank account? Consider giving real estate, such as a personal residence, vacation home, farm, commercial property, or undeveloped land. When you make a charitable gift of appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction, and you may minimize or eliminate capital gains tax. In some cases, you can even avoid dealing with that property’s maintenance costs, property taxes, or insurance.

Another benefit: This may also avoid some of the hassle of selling the real estate. You can either deed the property to the charity or to a charitable trust during your lifetime or ask your attorney to add a few sentences in your will or other estate documents.



Ways to Give Real Estate

It is important to speak to the Museum first if you are considering such a gift. The following is general advice about giving real estate to charity, and any such gift will depend on the property, your situation, and the Museum’s needs:

An outright gift

A gift in your will or living trust

A donor advised fund

A retained life estate

A charitable remainder unitrust

A bargain sale

A charitable lead trust

A memorial or endowed gift