Planned Giving: Real Estate

A gift of a residence or vacation home is one of the most flexible in terms of benefits to you. Depending on how you structure your gift, you can minimize or eliminate taxes, earn additional income, and continue to live in your home.

Real estate is not limited to personal residences. It includes investment or commercial properties, agricultural properties, parcels of undeveloped land, and more. All offer varying advantages, depending on whether you own the property outright or share ownership, and how much the property has appreciated. You can choose to give the entire property or a percentage to the Institute. You also can choose to donate any tangible personal property inside the building as a separate gift.

In most circumstances, your charitable contribution is based on the appraised value of the real estate at the time the gift is transferred to the Institute. Your deduction can equal up to 30 percent of your adjusted gross income. On an appreciated property, you avoid capital gains tax by donating the real estate to Scripps Research prior to its sale.

Real estate is quite versatile as a gift. You can use it as an outright gift or a bequest, or you can use it to fund a charitable remainder trust, a charitable gift annuity, or a lead trust. You can also retain a life estate with your donation and continue to live in your home while also receiving an income tax deduction.

Scripps Research's planned giving counsel can assist you in evaluating your property's potential and analyzing the options to determine the most beneficial course for you. Please contact Geoff Graham, Director, Planned Giving and Estates, at (858) 784-9365 or gcgraham@scripps.edu.

Donor Spotlight - Helen Dorris