Gifts of Real Estate
Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property can make a great gift to the International Waldenstrom's Macroglobulinemia Foundation.
Benefits of gifts of real estate
- Avoid paying capital gains tax on the sale of the real estate
- Receive a charitable income tax deduction based on the value of the gift
- Leave a lasting legacy to The International Waldenstrom's Macroglobulinemia Foundation
How to make a gift of real estate
The International Waldenstrom's Macroglobulinemia Foundation established Placid Point Rd. LLC as a separate legal entity to accept and manage certain charitable gifts made to IWMF, including gifts of real estate. Placid Point Rd. LLC is wholly-owned, controlled and managed by IWMF. Consistent with IRS rules, your charitable gift to Placid Point Rd. LLC will be treated as a gift made directly to IWMF, including for charitable tax purposes.
In order to accept a gift of real estate, IWMF asks that you name Placid Point Rd. LLC, a Florida limited liability company, as the grantee in any real estate transfer deed. If you have an questions about gifts of real estate to IWMF, please contact us. We would be happy to assist you and answer your questions
Your real property may be given to The International Waldenstrom's Macroglobulinemia Foundation by executing or signing a deed transferring ownership to Placid Point Rd. LLC. You may deed part or all of your real property to The International Waldenstrom's Macroglobulinemia Foundation. Your gift will generally be based on the property's fair market value, which must be established by an independent appraisal.
If you have any questions about gifts of real estate, please contact us. We would be happy to assist you and answer any questions that you have.
Mortgaged Property - Please contact us if the property you wish to give has existing debt or a mortgage. Indebtedness can affect your charitable tax deduction.
Difficult Property Gifts - Certain properties pose challenges. We have adopted policies to limit the acceptance of certain kinds of real estate. Please check with us before making a gift of real estate so we can explain our gift acceptance policies.
Capital Gains Tax - Check with us on the capital gains tax implications of your gift. You may also be interested in life income options.