A Charitable Gift Unearthed

Making a charitable gift of real estate through the Greater Grand Island Community Foundation can help you turn your property gains into community good. Gifts of real estate range from personal residences and vacation homes to rental properties, farmland, and commercially developed land - the value of which may exceed that of any other asset you own. With the help of the Greater Grand Island Community Foundation, you can use real estate to make a bigger charitable difference than you thought possible, avoid estate taxes, and minimize or eliminate the burden placed on your heirs.

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 Greater Grand Island Community 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 or charitable gift annuity with the 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.

A gift of real estate must be professionally appraised to establish its fair market value. It is also assessed for compliance with our acceptance policies to make sure its resale will provide the appropriate value to the community.

Example Story

Real Charitable Value

Sandra and Cliff farmed for several years and were ready to retire. The couple had no children interested in taking over the family farm, so Sandra and Cliff planned on selling the land and giving the proceeds directly to charity. But after talking with their professional advisor, they realized that selling the land outright would not create the biggest, most effective gift for charity since they would be required to pay taxes on the capital gains. Instead, Sandra and Cliff donated the land to the Greater Grand Island Community Foundation to set up a charitable remainder trust. The donation of the land eliminated the need to pay the capital gains tax and provided them with a tax deduction. Plus the trust will provide the couple with income for life. After both Sandra and Cliff die, the assets left in the trust will be used to create the Sandra and Cliff Doe Endowment Fund, which will be used by the Foundation to make grants to community programs, forever.

Learn More

There is so much more we'd like you to know. For more information and ideas on ways to integrate charitable giving with your financial plan, ask your financial advisor or contact the Greater Grand Island Community Foundation at (308) 381-7767 or online. We will be happy to work with you and/or your advisor to determine the most effective ways to accomplish your charitable goals.