Would you like to make a meaningful gift to support our work? Do you own real estate that you no longer want? A gift of real estate can an provide you with many financial benefits and can make a significant impact on the University’s future. Gifts of real estate can be transformed into scholarship support, new faculty positions, the construction of new facilities, and program enhancements.
The benefits of making a gift of real estate include:
- Supporting a favorite cause.
- Improving liquidity by eliminating expenses normally associated with property ownership.
- Receiving an income tax deduction based on the fair market value of the real estate.
- Avoiding capital gains tax that you would owe if you sold the real estate.
- Putting an end to other problems, such as tenant issues, that may arise with certain properties.
Ways to make a gift of real estate:
- The simplest way to make a gift of real estate is to deed your property outright to the University.
- With this approach, you would sell the property to us for less than fair market value. Similar to the partial gift and joint sale approach, you can avoid capital gains on the difference between the property value and sales price and also receive a deduction for that amount. In addition, you receive cash proceeds from the sale.
Life Income Agreement
- Give your property to a trust naming UL Lafayette as the remainder beneficiary. The trust sells the property and invests the proceeds, paying you an income for life.
- A charitable gift that involves the donor transferring their home, farm or ranch to charity while reserving the right to live there for life. The donor receives a deduction based on the value transferred to charity.