Donations of real estate provide a significant charitable tax deduction for outright gifts and increase your charitable impact. CFWNC can help you turn your home, vacation home, business property or land into a charitable gift through the Western North Carolina Real Estate Foundation (WNC REF), a supporting organization of CFWNC.
When you give real property that you have owned for more than a year, your gift qualifies for an income tax charitable deduction equal to the property’s full fair market value. You also avoid tax on long-term capital gain. Proceeds from the property’s sale can create or be added to a CFWNC fund.
Gifts of real estate require due diligence prior to the contribution, usually including a site visit to the property, a qualified appraisal, a preliminary title report, and an environmental assessment. We make the process as easy as possible, managing and selling the property after it is contributed.
Are you a professional advisors with clients interested in leaving a planned gift of real estate?
Review Sample Bequest Language
Board of Directors
Carla Barnard, Carla & Co Commercial Real Estate, Chair
Barbara Baskerville, Beverly Hanks
Billy Clarke, Roberts & Stevens
Cynthia Eller, Retired Attorney
Michael (Mike) Falknor, Headwater Environmental
Josh Holmes, Ed Holmes & Associate Land Surveyors
Christine Mallette, Better Homes and Gardens Real Estate/Heritage Real Estate
Joanne Badr, Ward & Smith PA
Kimberly Winters, Movement Mortgage