Gifts of Real Estate often save a contributor to Eastern Gateway Community College Foundation thousands of dollars in income or estate taxes. The foundation accepts gifts of residential, commercial, or undeveloped real estate. Your gift of real estate will assure a charitable income tax deduction based on the fair market value of the property, with no capital gains liability for the transfer. A donor can also irrevocably deed a residence to the EGCC Foundation and reserve the right to use the dwelling during the donor’s lifetime.
Making it Happen:
- Donor must obtain a philanthropy title report in addition to an independent appriasal.
- EGCC Foundation’s advisors will inspect and realize an environmental checklist.
- The EGCC Foundation will assist you with the required IRS independent appraisal.
- You save thousands of dollars in income or estate taxes.
- The arrangement creates an immediate tax deduction.