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Download My KitReal Estate
Another way to make a meaningful gift to Dana-Farber and the Jimmy Fund, is by making a gift of real
estate such as a personal residence, vacation home, farm, commercial property or undeveloped land. And a gift of real estate also helps you. When you give Dana-Farber and the Jimmy Fund appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction and you may minimize or eliminate capital gains tax. And you no longer have to deal with that property's maintenance costs, property taxes, or insurance.
Another benefit: You don't have to hassle with selling the real estate. You can deed the property directly to Dana-Farber and the Jimmy Fund or ask your attorney to add a few sentences in your will or trust agreement.
Ways to Give Real Estate
You can give real estate to Dana-Farber and the Jimmy Fund in the following ways:
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 Dana-Farber and the Jimmy Fund, you also eliminate capital gains tax on its appreciation.
A gift in your will or living trust+
A gift of real estate through your will or living trust allows you the flexibility to change your mind and the potential to support our work with a larger gift than you could during your lifetime. In as little as one sentence, you can ensure that your support for Dana-Farber and the Jimmy Fund continues after your lifetime.
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 your taxes.
A charitable remainder unitrust+
You can contribute any type of appreciated real estate you've owned for more than one year, provided it is unmortgaged, in exchange for an income stream for life or a term of up to 20 years. The donated property may be a residence (a personal residence must be vacant upon contribution), undeveloped land, a farm, or commercial property. Real estate works well with only certain variations of charitable remainder trusts. Your estate planning attorney, who will draft your trust, can give you more details.
A charitable lead trust+
This gift can be a wonderful way for you to benefit Dana-Farber and the Jimmy Fund and simultaneously transfer appreciated real estate to your family tax-free. You should consider funding the charitable lead trust with real estate that is income-producing and expected to increase in value over the term of the trust.
An Example of How It Works
Janet purchased a rental property years ago and has watched it grow steadily in value. Still active in her career and traveling frequently, she is beginning to find management of the property more and more of a hassle. Janet sees this as an opportunity to give her rental property to a charity that is important to her while realizing valuable tax benefits.
Janet avoids capital gains tax on the appreciation and qualifies for a federal income tax charitable deduction for the property’s fair market value. Janet loves knowing that the gift of her property will make a big difference supporting our mission.
Make a Gift Today
Learn more about the many ways to use real estate to support Dana-Farber and the Jimmy Fund in the FREE guide Ways to Donate Real Estate.
Our Top Free Resource
This comprehensive estate planning kit helps you protect your family and establish your legacy. FREE!
Download My Kit