Gifts of Real Estate
A gift of your appreciated real property (such as your home, vacation property, vacant land, farmland, ranch or commercial property) can make a great gift to benefit The Voice of the Martyrs.
Here are some of the benefits you may enjoy:
- Avoid paying capital gains tax.
- Receive a charitable income tax deduction.
- Leave a lasting legacy.
How you make a gift of real property
Your real property may be gifted to The Voice of the Martyrs. You may transfer part or all of your real property to benefit VOM. Your gift will generally be based on the property’s fair market value, which must be established by an independent appraisal.
Who manages Voice of the Martyrs real estate gifts?
Voice of the Martyrs partners with iDonate to facilitate real estate gifts.
Are there any conditions to donating real estate?
Yes, iDonate will generally accept a real estate gift if all of the following conditions are met:
- Fair market value is more than $50,000.
- If the property is zoned commercial or is farmland, the Phase 1 environmental report comes out clean.
- There is no debt on the property.
- After the donation, iDonate will be the sole owner of an undivided interest in the property. In other words, the donor can subdivide the property and give a complete interest in one of the parcels, but iDonate prefers not to accept property where they will be co-tenants with others.
- iDonate prefers not to accept property that is subject to a rental agreement unless there is reasonable certainty that the property will sell within one month.
iDonate will consider deviating from these qualifications on a case-by-case basis.
Can you make a gift of mortgaged property?
Please contact iDonate if the property you wish to give has existing debt or a mortgage. If iDonate is able to accept the property, you may wish to contact your for advisor about the capital gains tax implications of your gift.
What is iDonate’s contact information?
706 North Lindenwood Drive
Olathe, KS 66062