Know Your Donor
Donors Are Looking To Be Serviced, Not Solicited
There are families and businesses looking to make a difference by donating their gift of real estate everyday. Many of these donors don't know who to turn to for help. Building a trusting relationship is key. Helping them to understand their options and giving them unconditional guidance will comfort them in their decision. Most of these donors will choose a charitable organization based on the relationship the organization has established with them.
Reasons To Donate A Gift Of Real Estate To Your Charitable Organization
- Satisfy a philanthropic intent
- Believes in your mission and wants to support your cause
- Aspiration to establish a legacy for oneself or for family member
- Realizes being charitable also may be beneficial to their financial goals
Donating A Gift Of Real Estate Can Provide Many Benefits To The Donor
- Reduce capital gains
- Remove costs or fees associated with owning the property (taxes, HOA, maintenance, etc.)
- Provide charitable deductions (federal and state, where applicable)
- Desire to use and qualify an appreciated asset as a charitable donation for tax deduction purposes
- Need to create or increase cash flow or supplement retirement income
Partner With Walter Joseph Group To Offer The Following Services To Your Potential Donor
- Feel secure knowing the charity has a qualified team of support to assist them with the donation process
- Access to top professionals to guide the donor through their options and determine the best solution
- A simple and streamlined process
- A trusted single point of contact with their charitable partner
- Relieved knowing their donation will not be rejected by their charity of choice
6 Ways A Donor Can Gift Their Real Estate Property To Your Charitable Organization
- Outright Donation An individual or corporation donates real estate property to a charity outright or in a trust.
- Bequest A charity is identified in a will as a beneficiary upon the death of a donor.
- Charitable Gift Annuity The donor transfer real estate in exchange for a guaranteed life income under a contract. In most circumstances the charity will receive the property, sell it, and contributes the proceeds to a trust company so payments can be made to a donor. May not be available in all states.
- Charitable Remainder Trust An irrevocable trust is set up with 2 sets of beneficiaries; income and charitable. The income beneficiary is usually the donor who receives a percentage of income from the trust for life or a term of years. The charitable beneficiary receives the principal of the trust after the income beneficiary dies.
- Bargain Sale Real estate property is sold to charity at less than fair market value (FMV). The donor bypasses the gain on the gift portion and receives a charitable deduction but must recognize the gain on the value he/she receives.
- Retained Life Estate A donor makes a donation of a primary or secondary home but continues to live in it or obtains rental income from it and obtains a charitable deduction based on IRS table. The property then passes to the charity upon the donor’s death.