Real Property, Real Value, Real Giving.
This week I gave two presentations to real estate professionals. The audience included agents, brokers, and investors engaged in real estate transactions of residential, commercial, and industrial properties. I focused on the ways that real estate professionals can work with their charitably inclined clients. By donating a charitable gift of real estate, clients can receive greater tax benefits, have more to give, and have more to keep. The benefits of real estate gifts can be immediate or can accrue over time, for the donors and for their heirs. Charitable gift benefits can include charity
and an income stream that may be greater than they are currently receiving through investment property.
During the early years of the Community Foundation, we primarily thought of our Professional Advisor Council (PAC) members as legal, financial, and investment professionals. As the Community Foundation matured, real estate professional referrals became fundamental to charitable giving in our region. In our relationship with PAC members, we advise on gift strategies that benefit the client-donor.
The Community Foundation works with real estate professionals as a client as well. We receive, hold, and sell real estate. We invest in real estate through impact investing, and now through the Community Housing Land Trust, we also acquire real estate.
A few current examples of our work with real estate professionals include:
- Sold timbered property near Grants Pass, Oregon, water rights from the Truckee River, residential property near Virginia City, and fractional interests in properties held with others in an LLC. We are working with a donor on the sale of a coastal property in South Carolina.
- Allocated impact investing assets in Hillside Meadows, an affordable housing project with a preference for working veterans in central Reno.
- Received industrial property in Sparks through the realization of a Legacy gift. The region will benefit from many other properties that will come to the Community Foundation through estate plans in the future.
- Is working with the City of Reno to receive up to four properties designated for affordable housing projects through the Community Housing Land Trust.
- Holds land that will be sold later in California, Nevada, Oregon, and New Mexico.
The motivations behind these real estate transactions and investments are as unique as the individual financial or estate needs of each donor and reflect their personal charitable passions and goals.
It never hurts to learn the benefits of your options. Consider us part of your team and call us for charitable gift planning advice and strategies. We provide a variety detailed illustrations, information, and charitable gift options with a minimal amount of information in a discreet process. Timing is crucial. The key to maximizing benefits is to explore the charitable gift options before listing a property for sale or selling it in a 1031 exchange.
We value our relationship with real estate professionals and work hard to earn and keep your trust. Client referrals from their professional advisors are responsible for much of the charitable work in our region. If you’d like to learn more, please give me a call at 775-333-5499.
Chris Askin, President and CEO
Connecting people who care with causes that matter
