Gifts of Real Estate
SAB may accept gifts of marketable real estate if its value is $250,000 or greater. All gifts of real estate must be approved in advance by our Board of Directors and it is SAB’s policy to sell all donated real estate as soon as it is practical.
If you complete an outright gift of real estate to SAB you will be entitled to an income tax deduction for the fair market value of the property and will avoid the capital gains tax on the property's appreciation.
Alternatively, you may wish to donate your residence or vacation home to SAB and retain the right to live in the property for the rest of your life. To do this, you would deed the “remainder interest” in the property irrevocably to SAB during your lifetime. Such an arrangement must also be approved in advance by our Board of Directors, and if the gift is completed, you continue to be responsible for all taxes and expenses related to the property. After your lifetime, the property passes to SAB. You will also be entitled to an immediate income tax deduction for a portion of the appraised value of the property.
- If you make an outright gift of appreciated real estate you will be entitled to an income tax deduction for the fair market value of the property – no matter what you paid for it – and you will avoid capital gains taxes on the transfer
- If you make an irrevocable gift of residential real estate and reserve the right to live in the property, you receive an immediate income tax deduction for a portion of the appraised value of the property
- You have the satisfaction of making a significant gift to SAB
If you make a Real Estate gift to SAB, you'll be eligible to join the Founders Society - a group of loyal friends who have made similar plans by naming SAB in their estate plans. To learn more, click here.
For more information please contact Kristen Barrett, Director of Development, at 212-769-6615 or firstname.lastname@example.org. All inquires are confidential.