Want to make a big impact on Oberlin without touching your bank account? Consider donating real estate.
When you give appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. You also avoid paying capital gains tax. And you no longer have to deal with the property's maintenance costs, taxes or insurance.
Real estate can be given outright, given with a retained life estate or used to fund a Charitable Remainder Trust.
Example: Janet purchased a rental property several years ago and has watched it grow steadily in value. Still active in her career and traveling frequently, she's beginning to find management of the property more and more of a hassle. At this stage of her life, Janet has decided to move to a 55+ condominium development, where all exterior maintenance is provided and she doesn't have to worry about security. Janet sees this as an opportunity to give her rental property to a charity while realizing valuable tax benefits. The property is currently worth $250,000.
By making such a donation, Janet qualifies for a Federal income tax charitable deduction equal to the property's fair market value, and avoids capital gains tax on the appreciation. Janet is happy to know that her gift will make a difference for future Oberlin students.
More information can be found in our Real Estate info sheet.
Check Out This Potential Scenario
- Contact our Office of Gift Planning at (440) 775-8599 or firstname.lastname@example.org to discuss the possibility of giving real estate to Oberlin.
- Seek the advice of your financial or legal advisor to make sure this gift fits your goals.
- If you include Oberlin in your plans, please use our legal name and Federal Tax ID.
Legal Name: Oberlin College
Address: 50 West Lorain Street Oberlin, OH 44074
Federal Tax ID Number: 34-0714363
Learn more about the many ways to use real estate to support Oberlin College in the FREE guide 7 Ways to Donate Real Estate.View My Free Brochure
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.