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TOOLS FOR GIVING

Gift of Real Estate

A charitable gift unearthed

Making a charitable gift of real estate through the Del Mar Foundation can help you turn your property gains into community good. The value of your real estate
may exceed that of any other asset you own. With the help of the Del Mar
Foundation, you can use it to fulfill your charitable interests and receive financial and
tax benefits.


How it works

• You identify real estate property that you would like to give; an appraisal will help you establish its estimated market value.

• We assess the real estate for compliance with our acceptance policies and gather appropriate documentation.

• Your gift can be placed in our endowment or operating reserve fund. Your gift is recognized in the Legacy Society in your name, in the name of your family or business, or in honor of any person or organization you choose.

• Your gift qualifies for a tax deduction based on its full market value; you avoid the capital gains tax that would otherwise arise from the sale of the property.

• With gifts of real estate, your property gains translate into community impact, so you get a more rewarding return on a major asset.

• We handle all the administrative details.

• Your gift can be placed into an endowment that is invested over time. Earnings from your gift are used to make grants addressing community needs. Your gift—and all future earnings from your gift—is a permanent source of community capital, helping to do good work forever.

 

More benefits

A gift of real estate releases potential that has been tied up for years, enables you to make a bigger charitable difference than you may have thought possible, helps you avoid estate taxes, and minimizes or eliminates burden placed on your heirs. Charitable gifts of real estate range from personal residences and vacation homes to rental properties, farmland,
and commercially developed land.

You may choose to give real estate outright and receive an immediate tax deduction
or retain the use of the property during your lifetime and make a planned gift to the Del Mar Foundation. You may also choose to convert real estate into a stream
of income for the rest of your life by establishing a Charitable Remainder Trust with the Del Mar Foundation. Doing this lets you transform a low-yield asset into a higher-yield, income-producing asset and claim a tax deduction for the charitable portion of the gift.

Real charitable value

Sally and Cliff Smith owned a summer home and had no heirs interested in inheriting it.
At first, the Smiths planned to sell the home and give the proceeds to charity. But after talking with the Del Mar foundation, they realized that giving the home directly to the foundation would create the biggest, most effective gift, while providing the greatest benefits to them as donors. “It was a great option—we could give our house to charity through the foundation and receive tax benefits,” says Sally. The Smiths learned they could also retain use of the home for their lifetime. “This way,” Cliff explains, “we can spend our summers enjoying the home for the rest of our lives. And after our lifetime, the Del Mar Foundation will use the proceeds to make grants and the Sally and Cliff Smith gift will be included in the Legacy Society forever.”

This is a donor scenario, a realistic composite of giving stories. It is not an actual Del Mar donor story.

 

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