Learn more about the many ways to use real estate to support Loomis Chaffee in the FREE guide 7 Ways to Donate Real Estate.Learn More
Gifts of real estate can consist of many types of properties: a principal residence or a vacation home, a farm, a commercial building, subdivision lots or undeveloped land. Such a gift to Loomis Chaffee may be the entire property or a fractional interest in the property. In addition, the same benefits that accrue to gifts of appreciated securities apply to gifts of appreciated real estate. A bargain sale can also be an effective way to relinquish property that has increased in value; the difference between the actual value and the sales price is considered a gift to Loomis Chaffee.
Ways to Give Real Estate
You can give real estate to Loomis Chaffee in the following ways:
Submit a few details and see the benefits of an outright gift.
An outright gift. When you make a gift today of real estate you have owned longer than one year, you qualify for a federal income tax charitable deduction equal to the property's full fair market value. This deduction lets you reduce the cost of making the gift and frees cash that otherwise would have been used to pay taxes. By donating the property to Loomis Chaffee, you also eliminate capital gains tax on its appreciation.
Submit a few details and see the benefits of a retained life estate.
A retained life estate. You can transfer your primary or secondary residence to Loomis Chaffee but keep the right to occupy (or rent) the home for the rest of your life. You continue to pay real estate taxes, maintenance fees and insurance on the property. Even though Loomis Chaffee would not actually take possession of the residence until after your lifetime, since your gift cannot be revoked, you qualify for a federal income tax charitable deduction for a portion of your home's value.
Submit a few details and see the benefits of a bargain sale.
A bargain sale. A bargain sale is the sale of your property to Loomis Chaffee for less than its market value. The difference between the actual value and the sale price is considered a gift to Loomis Chaffee. A bargain sale can be an effective way to dispose of property that has increased in value, and it is the only gift vehicle that can give you a lump sum of cash and a charitable deduction (when you itemize) at the same time.
A memorial or endowed gift. A gift of real estate may be a perfect way to honor your loved one in perpetuity. When you make an endowed gift of real estate, your contribution is invested with and becomes part of our endowment. An annual distribution is made for the purpose you designate. Because the principal remains intact, the fund will generate support in perpetuity.
A donor advised fund. When you transfer real estate to your donor advised fund, you avoid capital gains taxes and qualify for a federal income tax deduction based on the fair market value of the property when you itemize on your taxes.