The Gorelick Family’s Donor Advised Fund Opens Doors
Allison Gorelick sought out the Community Foundation as she and a fellow real estate developer were building the team that ultimately brought the Village on Sage Street dorm-style modular housing units to Reno. Allison’s energy, real estate development knowledge, and creative thinking were vital to the success of the building and planning process. Her calm commitment in the face of obstacles that go along with building an innovative housing community inspired a “Let’s Do This” attitude by the collaborators, the City of Reno, Volunteers of America, private construction companies and the Community Foundation Staff and Board. As a result of her experience, Allison and her husband Jeff decided to contribute to the Community Foundation by creating a donor advised fund for their family’s charitable efforts.
Gift of rental real estate helps welcome home more than 200 people this winter.
The Gorelick family found it efficient to donate rental apartments that had appreciated in value. The tax savings and the Community Foundation’s process for accepting gifts of property made their generous gift satisfying and simple. Allison and Jeff will use their family donor advised fund to support community causes and nonprofits that are important to them. They are committed to raising their sons, ages 10 and 13 with a positive example of the need for and power of philanthropy. To that end, the Gorelicks plan to involve their kids in the grant decisions of their fund, along with encouraging the boys to contribute their own time and energy.
“The Village on Sage Street is important to our family.” “Our boys are focused on other young people, without family help, who may find it tough to save enough money while working minimum wage to meet the $400 security deposit and the $400 first month’s room rent. Our 13-year-old Lucas is proposing that families sponsor a new tenant and help somebody move in to a stable housing situation. Meaningfully, Lucas is using his own savings to be among the first sponsors.”- Jeff Gorelick
Ten reasons people choose to give real estate to the Community Foundation of Western Nevada:
- Property values are at an all-time Avoid paying capital gains tax on the sale of your real estate.
- You receive a charitable income tax deduction based on the current sale value of the property.
- You may deed part or all of your real estate property to the Community Foundation.
- Your gift of property can create an income stream for you or your family, even an organization close to your heart.
- The Community Foundation works with generous Realtors. We pay all fees which are usually partially or wholly donated by the real estate firm.
- Your gift can be used to create a donor advised fund for your family and be passed to your children.
- We accept a wide variety of assets and can facilitate even the most complex forms of giving.
- The impact of your charitable dollars can be multiplied by pooling them with other grants or contributing to Community Foundation initiatives and projects.
- Community Foundation initiatives bring people together to improve their community. We welcome your involvement.
- Giving real estate to the Community Foundation of Western Nevada is simple, powerful and effective.
We were impressed by how easy it was to donate real estate.
– Jeff and Allison Gorelick