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 Barnard
welcomes gifts of real estate and almost any type of non-mortgaged
property — a personal or vacation residence, a farm
or ranch, a commercial building, subdivision lots, or an
undeveloped parcel of land. You may give the entire property
or an undivided fractional interest in the property.
- A
gift of real estate may be outright
- You
may use real estate to fund a life income arrangement
(see section on charitable
remainder trusts).
- It
is even possible to donate a residence, retain the right
to live in the property during your lifetime, and qualify
for a current income tax charitable deduction.
- Another
possibility is what is known as a "bargain sale,"
a simple arrangement in which you sell real estate (or
other assets) to Barnard for less than their current value.
The amount of your gift — the amount you may claim
as a charitable deduction — is the difference between
the market value of the real estate and the price Barnard
pays you for the property.
Please
note: When property is donated to a charity, the IRS requires
that the donor be responsible for obtaining and paying for
a qualified appraisal and, in cases of real estate, an environmental
audit.
For
further information about how a gift of real estate may
benefit you, please contact the
Office of Planned Giving.
Click
here for information on how to contact the Office of
Planned Giving at Barnard.
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