Donate Real Estate

Property Owners!  Are you philanthropic?
Give more to charity without fear of reducing family wealth.  CONTACT US!

DO YOU…

• Have a highly appreciated property?
• Need tax relief?
• Need cash flow from your asset?

LifeSpark Cancer Resources accepts donations of real estate…  Any Kind, Anywhere! (with the exception of timeshares).  We work with a team of highly qualified experts to make the process easy. See examples below of the following ways you can use donations of property.

• Avoiding capital gains tax with a property donation creates a larger gift.
• A partial property donation creates needed cash.
• Unused property is left to LifeSpark in memory of a family member.
• Multi-year cash flow is generated from a real estate gift LifeSpark receives years later.

JIM’S AND MARY’S STORY
Avoiding Capital Gains Tax Creates Larger Gift

Jim and Mary own an industrial building that they no longer need. They are generous and want to make a legacy gift to LifeSpark. They have significant income, and the availability of tax deductions will allow them to make a larger gift.

By donating the property instead of selling it, they receive tax benefits, because they avoid capital gains taxes. LifeSpark receives their property valued at $1 million, which they sell and turn into important services for cancer patients in the community.

Fair Market Value of property              $1,000,000
Cost Basis of property (paid yrs ago)     $100,000
Taxable gain on property                        $900,000
Capital Gains Tax due                                       $0
     Tax deduction received                        $1,000,000

YIN’S STORY
Partial Donation Creates Cash

Yin owns a 6-bedroom apartment complex. Buyers are knocking on her door. She would like to sell the property and purchase a small business. She has significant income this year and needs a tax deduction.

The value of the property is $1,000,000. Yin sells the property to LifeSpark for the bargain price of $400,000 and uses the cash for a down payment on the business. (Capital gains taxes are due on the sale portion of the transaction.) She receives a $600,000 tax deduction, which she can use over a five-year period. LifeSpark sells the property and uses the funds to provide direct services to cancer patients.

HELEN’S STORY
Unused Property In Memory Of Family Member

Helen is in her early 70’s. Her husband died of cancer, and her sister recently recovered from cancer while receiving supportive care from LifeSpark.  Helen owns a family ski condo that is no longer used. When she was younger, she was never able to make large donations. But now, she can donate the condo to LifeSpark in memory of her late husband, and make a significant difference for others with cancer.

LifeSpark sells the condo and turns the funds into direct services for cancer patients in the community. Helen receives the satisfaction of seeing the benefits of her donation while she is still living.

HOWARD’S STORY
Multi-Year Cash Flow from Structured Gift

Howard owns a duplex that generates monthly rental income. It has significant property damage and it is challenging to attract quality tenants. He would like to get rid of the property but needs monthly income.

Howard’s financial advisor assists him in transferring the property to a Charitable Remainder Trust (CRT), which then sells the property. He avoids all capital gains taxes and receives a charitable deduction for the full value of the property. The CRT produces regular income for him similar to what the rental was producing. After a specified number of years, the remaining assets in the CRT go to LifeSpark.

Disclaimer: These hypothetical case studies are provided for illustrative purposes only and the individuals portrayed do not represent an actual person or an actual person’s experience.   Through the use of these illustrations or otherwise, LifeSpark is not providing, and in no way intends to provide, any tax, financial or other advice.  Prior to donating real estate or other appreciated property, LifeSpark strongly recommends that you consult with a tax expert, financial advisor, and other professionals.    

MAKE AN IMPACT!
Your real estate donation will restore peace & calm during and after cancer and will help LifeSpark serve hundreds of individuals in need of our support.

LifeSpark can assist you in identifying top professionals in the real estate and philanthropic fields who can advise you about the donation process including tax and real estate attorneys, financial planners, and real estate professionals who may have access to capital and other resources.

We make donating real estate easy.  We accept donations of real estate – any kind, anywhere  (with the exception of timeshares).