Outright Gift of Real Estate
Transforming Realty to Gift Reality
When you are considering your legacy at the University of Rhode Island, a gift of cash or retirement assets might immediately come to mind.
However, if you own real estate, the proceeds from the sale of the property could provide you with a way to make a big impact. Real estate often comprises more of our individual personal wealth than do stocks, bonds or outright cash. Imagine the good that those dollars could do for URI and our students.
Gifting real estate to URI is as straightforward as adding a clause to your will to sell the property and donate the proceeds to the University. In as little as one sentence or two, you can ensure that your support for URI continues after your lifetime.
Watch How It WorksMake a Gift Today
Learn more about the many ways to use real estate to support University of Rhode Island Foundation & Alumni Engagement in the guide 7 Ways to Donate Real Estate.
View My GuideAn Example of How It Works
Janet purchased a rental property 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 issues. Janet sees this as an opportunity to give her rental property to a charity that's important to her while realizing valuable tax benefits.
Janet avoids capital gains tax on the appreciation and qualifies for a federal income tax charitable deduction of $250,000, which is for the property's fair market value today. She is able to claim 30 percent of her $200,000 adjusted gross income, or $60,000, in the year of the gift. In the five years following, she can continue to use up the remaining $190,000 deduction. Janet is happy in her new condo and loves knowing that the gift of her property will make a big difference supporting our mission.
Additional Resources
Gifts That Pay
Your payments depend on your age at the time of the contribution. If you are younger than 60, we recommend that you learn more about your options and download this guide Plan for Retirement With a Deferred Gift Annuity.
View My GuidePrepare for the Future
Create a secure plan for you and your loved ones with our Personal Estate Planning Kit.
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. 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. California residents: 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. Oklahoma residents: 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. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.