Gifts of Real Estate or Personal Property

How It Works

  • You deed your home, vacation home, undeveloped property, or commercial building to the JFS Foundation. You can also transfer a valuable painting, antique, or other personal property to the JFS Foundation.

  • The JFS Foundation may use the property or sell it and use the proceeds to establish your endowment.

Benefits

  • You receive an income tax deduction for the fair market value of the real estate or for the appraised value of your gift.

  • You pay no capital gains tax on the transfer.

  • Without using cash, you can make a gift that is immediately beneficial to the JFS Foundation.

We are happy to consider gifts of residential, commercial, and undeveloped real estate. As with donations of other types of appreciated property, gifts of real estate secure a charitable income tax deduction for you, based on the fair market value of the property, with no capital gains liability for the transfer to the JFS Foundation. 
 

You can donate real estate to the JFS Foundation in several ways:

  • As an outright donation;

  • As the donation of a fractional interest in the property;

  • As the asset to fund a gift plan that will pay you income, such as a charitable unitrust.

 

When you are considering a gift of real estate, keep two considerations in mind:

  • We will gratefully review your offer and evaluate the condition and marketability of the proposed real estate to determine that the donation is risk free and appropriate for all parties.

  • The IRS requires donors of real estate to secure an independent appraisal to establish the fair market value of the property. We can assist you in following the IRS procedures for this appraisal.

 

A gift of real estate or personal property is for you if:

  • You hold readily marketable residential, commercial, or undeveloped real estate that has risen in value that you no longer wish to maintain or you hold artwork, antiques, or other personal property that you no longer wish to maintain.

  • You are concerned about rising real estate taxes and the capital gains cost of selling the property.

  • You have vacation property no longer needed by any family member.

  • The property is useful to the JFS Foundation's mission or can be sold easily.

  • You want to avoid capital gains tax on the transfer of these assets.

Questions? 

If you are considering such a gift, please give us a call first. We can determine if the items can be used by the JFS Foundation– a requirement for you to claim a full deduction. If you donate personal property that is liquidated for cash, the IRS will limit your charitable deduction to your cost basis in the property.
 
Ifyou want to set up a retained life estate, please give us a call to discuss further.
We'd love to hear from you!

CONTACT US

 

The JFS Foundation

5402 Arapaho Road

Dallas, TX 75248

972.437.9950