Planned Giving
Gifts of Real Estate: The Details
Is this gift right for you?
A gift of real estate is for you if…
- You hold readily marketable residential, commercial, or undeveloped real estate that has risen in value that you no longer wish to maintain.
- You are concerned about rising real estate taxes and the capital gains cost of selling the property.
- You have vacation property no longer needed by any family member.
- You would like to consider using your real property for a life income giving arrangement.
- The property is useful to our mission or can be sold easily.
We are happy to consider gifts of residential, commercial, and undeveloped real estate.
As with donations of other types of appreciated property, gifts of real estate secure a charitable income tax deduction for you, based on the fair market value of the property, with no capital gains liability for the transfer to Indian River State College Foundation.
You can donate real estate to Indian River State College Foundation in several ways:
- As an outright donation;
- As the donation of a fractional interest in the property;
- As the asset to fund a gift plan that will pay you income, such as a charitable unitrust;
- By donating your home, while at the same time reserving the right to continue living there for your lifetime or for the lifetime of someone else such as a spouse or sibling (a retained life estate).
When you are considering a gift of real estate, keep two considerations in mind:
- We will gratefully review your offer and evaluate the condition and marketability of the proposed real estate to determine that the donation is risk free and appropriate for all parties.
- The IRS requires donors of real estate to secure an independent appraisal to establish the fair market value of the property. We can assist you in following the IRS procedures for this appraisal.
Please contact us so that we can assist you through every step of the process.
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Create a Lasting Legacy
Philanthropic planning is a powerful mechanism for meeting personal estate planning objectives while making a meaningful impact on the College’s initiatives and mission. At Indian River State College, we welcome the opportunity to work with estate planners to ensure that your clients find the charitable arrangements that best meet their needs.
Estate-planning options can achieve significant tax benefits while furthering a client’s philanthropic goals:
- Gifts through a will or trust
- Charitable trusts and gift annuities
- Donation of stocks and mutual funds
If your client has already included or intends to include Indian River State College in their will or estate plan, or if you would like someone from IRSC Institutional Advancement to contact you to discuss how to support IRSC as part of their estate planning strategy, please contact us.
