Outright Gift of Real Estate
Transforming Realty to Gift Reality
Want to make a big gift to the University of Michigan without touching your bank account? Consider a gift of real estate. Such a generous gift helps us continue providing U-M students with a quality education for years to come. Not to mention a gift of real estate also helps you.
When you give U-M appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. This eliminates capital gains tax. Plus, you no longer have to deal with that property's maintenance costs, property taxes or insurance.
Another benefit: You don't have to hassle with selling the real estate. You can deed the property directly to the University of Michigan or ask your attorney to add a few sentences in your will or trust agreement.
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Learn more about the many ways to use real estate to support the University of Michigan in the FREE guide Ways to Donate Real Estate.View My Guide
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An Example of How It Works
Janet purchased a rental property years ago and has watched it grow steadily in value. Still active in her career and traveling frequently, she's beginning to find management of the property more and more of a hassle. At this stage of her life, Janet has decided to move to a 55+ condominium development, where all exterior maintenance is provided and she doesn't have to worry about security issues. Janet sees this as an opportunity to give her rental property to an institution she's passionate about, like U-M, while realizing valuable tax benefits.
Janet avoids capital gains tax on the appreciation and qualifies for a federal income tax charitable deduction of $250,000, which is for the property's fair market value today. She is able to claim 30 percent of her $200,000 adjusted gross income, or $60,000, in the year of the gift. In the five years following, she can continue to use up the remaining $190,000 deduction. Janet is happy in her new condo and loves knowing that the gift of her property will make a big difference to U-M students.
- Contact the Office of Planned Giving at 734.615.2022 or firstname.lastname@example.org for additional information before making a gift of real estate.
- Seek the advice of your financial or legal advisor to make sure this gift fits your goals.
- If you include U-M in your plans, please use our legal name and federal tax ID.
Legal Name: Regents of the University of Michigan
Address: 3003 S. State Street, Ann Arbor, MI 48109
Federal Tax ID Number: Please contact us for our federal tax ID number.