Your donation of habital (House) and commercial real estate will be used as office space for family programs and outreach services. Donations with a lot of
land will be used for the animal outreach programs. Land donations will be utilized for parks & recreation activities and the new construction of service facilities.
The question is whether it makes more financial sense to donate the property or sell it outright and use the proceeds of the sale to settle you could donate
it and get a tax deduction. But capital gains taxes are only 20%--why not just sell it and keep your 80% profit?" The answer is that, in many cases, if one
takes into consideration ongoing property taxes, maintenance costs, income taxes--or if the property is sold, the cost of legal fees, brokerage fees, estate
taxes, inheritance taxes and capital gains taxes--it is often financially preferable to donate properties to charities. It also saves heirs the trouble of trying to
divvy up the gains if the will is potentially contentious or inequitable.
One of the advantages to the Donor is that the size of the tax deduction is determined by the current market value of the property, as opposed to the cost
of the property when it was purchased. For example, if a home bought years ago for $25,000 is appraised at $100,000 today, the Donor gets the
$100,000 deduction. (Moreover, by donating a property instead of selling it outright, donors can avoid paying brokers' fees.)
Enjoy these benefits when you donate Real Estate to charity:
|Sizable, lasting tax benefit / deductions for years to come|
|Freedom from property taxes|
|Freedom from property maintenance and other obligations|
|Freedom from liability and insurances|
|Benefit of knowing that you/your business has helped others|
|Positive face forward to the public for your generous support|
|Peace of mind knowing that your real estate is no longer a drain or burden|
|Holds Title/Deed to the real estate.|
|Owns real estate that is without debt.|
|Parnell Intermediary Services, Inc.
|501(c)(3) Nonprofit Public Charity
|©2003 - 2013 Parnell Intermediary Services, Inc. All Rights Reserved.
|PISI is registered as a 501(c)(3) nonprofit public charity. Contributions to PISI are tax-deductible to the extent permitted by law. PISI tax identification number is 20-0502201
|Please do NOT donate real estate that has environmental or zoning problems.
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