Support the vital work of helping children in crisis by donating your property. You may be able to reduce your capital gains, receive an income tax deduction, and receive life-income.
Types of Real Estate you can deed:
You may convey real estate to 4KIDS either as an outright gift or by establishing a charitable remainder trust.
Outright Gifts
With an outright gift, the property is transferred by deed to 4KIDS and is subsequently sold. With a trust, the property is transferred by deed to the trust, and the trustee then sells the property and uses the proceeds to pay income to the beneficiaries.
If you make an outright gift, you receive a current income tax charitable deduction based on the appraised fair market value of the property, and you avoid any income tax on the capital gain.
Charitable Remainder Trusts
With a charitable remainder trust, you will also avoid tax on capital gain and, as an income beneficiary, you will receive an annual income from the trust that is based on the proceeds of the sale of the property. When the trust is established, a current income tax charitable deduction based on the present value of the remainder interest to 4KIDS will result.
Fractional Interests in Real Estate
Lastly, it is possible to convey a fractional interest in real estate (such as a vacation home) to 4KIDS, allowing you to retain use of the property for a portion of each year. This generates an income-tax charitable deduction equal to the contributed fractional interest of the fair market value of the property while guaranteeing the enjoyment of the property for the portion of the year for which you retain the right to use it.
4KIDS Gift Planning team would be glad to explore with you how such a gift can help you combine your charitable and financial objectives. Please note 4KIDS must review and approve any potential gift of real estate before the transferring of any real property can be finalized.
This Real Estate section provides general gift, estate, and financial planning information. We do not intend it as legal, accounting, or other professional advice. For assistance in planning charitable gifts with tax and other financial implications, the services of appropriate advisors should be obtained. Consult an attorney for advice if your plans require revision of a will or other document.
If you or your financial and legal advisors have questions, please call Joel Ceballos, Director of Gift Planning, directly at 954.590.1541 or by email giftplanning@4KIDS.US