Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch, or commercial property can make a great gift to the Wayne Area Legacy Fund.
There are many benefits to gifting real estate such as avoiding paying capital gains tax on the sale of real estate, receiving a charitable income tax deduction based on the value of the gift, and leaving a lasting legacy to the Wayne Area Legacy Fund.
Real property may be given to the Wayne Area Legacy Fund by executing or signing a deed transferring ownership. One may deed part or all of the real property to the Wayne Area Legacy Fund. The gift will generally be based on the property’s fair market value, which must be established by an independent appraisal.
Please contact the Wayne Area Legacy Fund if the property has existing debt or a mortgage. Indebtedness can affect the charitable tax donation.
Visit Nebraska Community Foundation’s Gift Planning website – www.ncfgift.org – to begin the process of donating. There are also details on the benefits and process of making a charitable gift for other out-of-the-box giving methods beyond cash. Nebraska Community Foundation is also always available to help guide in the right direction at (402) 323-7330 or info@nebcommfound.org.
Wayne Area Legacy Foundation harnesses the power of giving to make the Wayne Area a great place for all ages to live, work and play for generations to come.
Find the complete information in the March 19 edition in The Wayne Herald or subscribe today by clicking here.
