Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property can make a great gift to the Parkinson's Foundation.
Benefits of gifts of real estate
- Avoid paying capital gains tax on the sale of the real estate
- Receive a charitable income tax deduction based on the value of the gift
- Make a tremendous impact in the fight against Parkinson’s disease
How to make a gift of real estate
The Parkinson’s Foundation accepts donations of Real Estate, through a partnership with Realty Gift Fund (RGF). Learn more here.
If you have additional questions, please contact Katherine Griswold with the Parkinson’s Foundation at KGriswold@Parkinson.org or 858-283-0231.
Frequently Asked Questions
Is my donation of real estate tax deductible?
Yes. The typical tax deduction is based on a current appraisal less any cash paid to or on behalf of the donor (say, to pay-off a mortgage). The tax deduction is taken in the year of the gift and, if necessary, can be carried forward for five additional tax years.
If I sell my property, I will owe significant taxes. Do I avoid these taxes through a donation?
Yes. A charitable donation of real estate eliminates the tax burden on the gifted portion of the property. Any cash paid to or on behalf of the donor (for instance, to pay-off a mortgage) is considered the “sale portion” and that amount is taxed on a prorated basis. Outright gifts are 100% tax free and tax deductible.
What types of property will you accept?
Residential, commercial, hospitality, resort, farms/ranches and land, among others. We do not accept timeshares. Every donated property must be marketable at a price close to appraised value within a reasonable marketing period.
What are the steps in a gift of real estate?
The gift of real estate has two steps: a donation to Realty Gift Fund, followed by a sale to a third party. The tax deduction is based on the donor’s current appraisal, and the amount of cash the Parkinson’s Foundation receives is based on the net proceeds produced by the sale.
How much will the Parkinson’s Foundation receive from the sale of a donated property?
Realty Gift Fund does not charge a fee but retains a portion of the “net gift” produced from the sale of the gifted property. The shared amounts are based on the size and complexity of each donation but, on average, the Parkinson’s Foundation will receive up to 90 to 97 percent of the net proceeds.
Who determines the value of my tax deduction?
A qualified appraiser will produce a current appraisal within 60 days of the date Realty Gift Fund takes title. The donor pays the cost of the appraisal, which is often the donor’s only expense of a donation.
Can I donate a property with an existing mortgage?
Yes. Realty Gift Fund can use its resources to pay off existing debt based on an evaluation of the loan amount vs. the property’s true market value.
Can I be paid some cash for the property and donate the rest as a charitable contribution?
Yes. Perhaps your property is free of debt but you desire a partial cash payment for some other reason — college tuition, investment opportunity, house renovation, etc. Tailor the size of the gift portion.
Can I donate a property that needs a few repairs?
Yes. Realty Gift Fund can use its resources to make sensible repairs to properties to improve the market value and shorten the time to sell a property.
What do you need to know about my property?
Let’s start with a phone conversation about your goals and if a gift of real estate to the Parkinson’s Foundation fits your needs. Real estate is a significant gift and we want to align our mission to your goals. We will ask you for the property type, the amount of debt or other cash needs, the property address and what characteristics will define its market value.
If you have any questions about gifts of real estate or our partnership with Realty Gift Fund, please contact Katherine Griswold with the Parkinson’s Foundation at KGriswold@Parkinson.org or 858-283-0231.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your benefits