Centre Foundation Real Estate Gifts
Turn Real Estate into a Lasting Gift for Centre County
Your home, farmland, vacation property, or commercial real estate may be one of your most valuable assets. It can also be one of the most powerful ways to give. A gift of real estate to Centre Foundation allows you to transform property into charitable resources that support the organizations, causes, and community needs that matter most to you.
Your gift is in experienced hands. For more than 25 years, Centre Foundation has accepted gifts of real estate through two dedicated organizations, Foundation Property, Inc. and Community Foundation Holdings, LLC, created for the single purpose of receiving, holding, and responsibly selling donated property on the Foundation’s behalf. Both are controlled by and exist only to benefit Centre Foundation. This purpose-built structure keeps your gift simple and shields the Foundation and our community from the risks that can come with owning property, so more of your gift’s value reaches the causes you love.
What Types of Real Estate Can Be Donated?
Real estate gifts may include:
- Primary residences
- Vacation homes
- Farmland or undeveloped land
- Rental properties
- Commercial buildings
For many donors, giving real estate can be a strategic option for property that has appreciated in value, become difficult to manage, or no longer fits into their long-term plans.
How Does a Real Estate Gift Work?
Real property is typically donated by transferring ownership through a deed. You may choose to give all or a portion of a property directly to Centre Foundation or through another charitable giving vehicle.
The value of your gift is generally based on the property’s fair market value, established through a qualified appraisal.
Once accepted, your real estate gift can be used to establish a charitable fund, add to an existing fund, or support specific causes that reflect your giving goals.
Benefits of Donating Real Estate
A real estate gift may allow you to:
Avoid capital gains tax
When you donate appreciated property instead of selling it, you may avoid capital gains taxes that would otherwise result from the sale.
Receive a charitable tax deduction
A gift of real estate owned for more than one year may qualify for a charitable income tax deduction based on the property’s fair market value.
Reduce property responsibilities
A gift can relieve ongoing expenses such as maintenance, repairs, insurance, and property management.
Create a larger charitable impact
Because real estate is often a significant asset, donating property may allow you to make a greater charitable gift than you could through cash alone.
Ways to Give Real Estate
Outright Gift
Transfer ownership of your property directly to Centre Foundation. This option may provide immediate tax benefits while allowing your property’s value to be put to work for charitable purposes.
Gift Through Your Will or Living Trust
A simple addition to your estate plan can allow your real estate to support the causes you care about after your lifetime while maintaining flexibility if your plans change.
Retained Life Estate
You can donate your home while keeping the right to live there during your lifetime. You continue to handle expenses such as taxes, maintenance, and insurance, while potentially qualifying for a charitable deduction for a portion of the home’s value.
Other Giving Options
Depending on your goals, additional options such as a bargain sale or charitable trust may also be available.
We Can Help You Explore Your Options
Real estate gifts require careful planning, and every situation is unique. Centre Foundation works with you and your professional advisors to review potential gifts, explore charitable options, and help you create a giving plan that reflects your goals.
Your property can become more than an asset. It can become a lasting investment in the community you call home.
None of the information included on this web page should be construed as legal advice or relied upon without first consulting an appropriate professional advisor.
Do You Have Any Questions?
Contact us about Partnering today – Kerry Tolton, Development and Stewardship Director
