Support SLC by Gifting Real
Estate!
We are very pleased to announce that Spiritual Life Center can now accept gifts of real estate and would be happy to discuss the potential of your generous offer and explain the many benefits to you.
To learn more please call us at 916-448-6508 or
Over the years, our supporters have asked if they can make charitable gifts of real estate to Spiritual Life Center, knowing that gifts of appreciated assets significantly improve their personal outcomes. We have always had to say “no thank you” due to the inherent complexity and risk. Now we can say “yes”!
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Recently, we established a collaboration with Realty Gift Fund, a specialized nonprofit that dedicates its expertise to facilitating these types of gifts to America’s nonprofits. Through their special mission, gifts of real estate are simple, safe, and rewarding for SLC and our donors.
Learn More by Watching
"Charitable Gifting of Real Estate 101: For Donors"
(Double Click on Image Below)
Upcoming Gifts of Real Estate Info Sessions
Frequently Asked Questions - FAQ
If you have additional questions, just give us a call at 916-448-6508 for a
“no obligation/confidential” discussion.
Is my donation of real estate tax deductible?
Yes. The tax deduction is based on a current appraisal of a property less any cash paid to or on behalf of the donor (say, to pay off a mortgage). The tax deduction applies against the donor’s adjusted gross income and is taken in the year of the gift plus, if necessary, five additional tax years.
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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 taxes for capital gain and the recapture of depreciation on the gifted portion of the property. Outright gifts are 100% tax-free and tax-deductible. If RGF pays any cash to you or on your behalf (say, to pay off a mortgage) the cash portion is taxed, but the gift portion passes free of taxes.
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What types of property will you accept?
Any type, anywhere…except timeshares. Residential, commercial, hospitality, resort, farms/ranches, and land, to name a few. Every donated property must be marketable at a price close to the appraised value within a reasonable marketing period. Please call and describe what you have. We’d love to hear your story
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What types of property do you not accept?
We accept properties that can be sold in a reasonable timeframe, for a sale price that will produce net proceeds for the nonprofit world. Therefore, raw land with no existing access to roads or utilities, no commercial purpose, or no trade value is generally not acceptable. Property with no equity (burdened by too much debt) is not acceptable.
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What are the steps in a gift of real estate?
The charitable gift of real estate has two steps…a donation to Realty Gift Fund, followed by a sale to a third party. The first step produces the “charitable gift”, the second step produces the “charitable funds". The charitable gift (the donor’s tax deduction) is based on a current appraisal of the property less any cash paid to or on behalf of the donor, and the charitable funds (net proceeds for the nonprofit world) are the sale price less cash payments, repair costs, and closing costs.
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Does Realty Gift Fund charge a fee for its role?
No. Realty Gift Fund keeps a portion of the charitable funds when the property is sold (minimum $20,000) and grants the balance of net proceeds to Spiritual Life Center. Our goal is to grant at least 90% of the net proceeds to other nonprofits, so the net proceeds (after partial cash payments and closing costs) should be approximately $200,000.
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How much will Spiritual Life Center receive from the sale of a donated property?
The amount of charitable funds shared between RGF and SLC is based on the size and complexity of each donation but, on average, Spiritual Life Center will receive 90%-97% of the net proceeds.
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Who determines the value of my tax deduction?
The IRS requires that every gift of real estate valued over $5,000 have a current appraisal produced by a qualified appraiser. An appraisal is considered current if it is dated no earlier than 60 days to the date Realty Gift Fund takes title.
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What are the costs to the donor for a gift of real estate?
Most often the donor pays only for the appraisal. Realty Gift Fund usually absorbs all other financial obligations (partial cash payments to the donor, holding costs, broker fees, transfer taxes, closing costs, and the proration of property taxes) which are deducted from sale proceeds to produce the net proceeds (the charitable funds).
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Does the property have to be located in California?
No. Realty Gift Fund accepts properties from any state in the US, and donors can gift properties located in other states to directly benefit Spiritual Life Center.
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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.
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Can I be paid some cash for the property and donate the rest as a charitable contribution?
Yes. Maybe your property is free of debt but you desire a partial cash payment for some other reason such as for college tuition, investment opportunities, or house renovations.
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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.
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What do you need to know about my property?
Let’s start with a phone conversation about your goals and if the Realty Gift Fund platform fits your needs. Real estate is a major 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, your most recent property tax bill, and other characteristics that may define the property’s market value.