Assuming that your property is unencumbered by a mortgage, a gift of real estate that you have owned for more than a year may qualify for a tax deduction of the property’s full fair market value.  At the same time, you will avoid the capital gains tax that would be due if you sold the property yourself. 

Real estate is often used to fund a charitable remainder trust, which is a deferring giving option that also avoids capital gains tax while providing a reliable source of income.  For more information, read Giving Later and select the “Charitable Remainder Trusts” link at the right of the screen.

On a case-by-case basis, The Rhode Island Foundation will accept gifts of real estate if their appraised value is $200,000 or more.  As part of the acceptance process, several procedural steps are involved including a qualified appraisal, environmental assessment and preliminary title report.  Contact the Foundation’s Gift Planning & Stewardship staff for more information.