With the decrease in real estate values over the past few years, many investors are discovering that a large portion of their net worth is tied up in property holdings. One solution for those individuals with a philanthropic interest, who seek to diversify investments and receive a current federal income tax deduction, is to donate their property to charity.These gifts are not limited to personal residences, but include investment or commercial properties, farm land, undeveloped land, and more.
Gifts of real estate are an extremely meaningful way to support Women In Distress and the immediate benefits can be substantial to the donor. Donors can move an asset with embedded capital gains off their personal balance sheet while, in most cases, still receiving the full charitable benefit of the property’s fair market value at tax time. In addition, donors can fulfill their charitable goals without disrupting their investment portfolios or current cash flow.
All real estate gifts offer varying tax advantages, depending on whether you own the property outright or share ownership, and how much the property has appreciated. You also can choose to donate any tangible personal property inside the building as a separate gift.
If you are interested in making this type of gift or for more information, please contact Director of Development, Mary Helen Olejnik at 954-760-9800 x 1244.