Real Estate or Personal Property

Wellspring, Inc. welcomes gifts of real estate and almost any type of non-mortgaged property: a personal or vacation residence, a farm or ranch, a commercial building, subdivision lots, or an undeveloped parcel of land. You may give the entire property or an undivided fractional interest in the property.

  • A gift of real estate may be outright
  • You may use real estate to fund a life income arrangement (see section on charitable remainder trusts).
  • It is even possible to donate a residence, retain the right to live in the property during your lifetime, and qualify for a current income tax charitable deduction.
  • Another possibility is what is known as a "bargain sale," a simple arrangement in which you sell real estate (or other assets) to Wellspring, Inc. for less than their current value. The amount of your gift — the amount you may claim as a charitable deduction — is the difference between the market value of the real estate and the price Wellspring, Inc. pays you for the property.

Please note: When property is donated to a charity, the IRS requires that the donor be responsible for obtaining and paying for a qualified appraisal and, in cases of real estate, an environmental audit.

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