Land Donation With Giving Center

Not every charity is equipped to receive a land donation. For some charities, land ownership is a burden, if they do not have a specific use for it, they may need to pay to own it and to sell it. Giving Center, on the other hand, is in the business of owning and utilizing land and would love to take your land donation.
Before Giving Center can accept your donated land, it must have a clear title. If you have ownership issues related to inheritances, you may need to work alongside a Giving Center representative to resolve the issues. Since you may only deduct the fair market value (FMV) of your land, you will also need to get it professionally appraised to establish a value in order to receive the best tax deduction possible.
With Giving Center, transferring land to charity is relatively simple. You will be working with Giving Center’s legal team to draft a deed, which will give the charity ownership of the land. Once you have successfully made the donation, you may enter its value with your other charitable contributions on the Schedule A of your Form 1040 tax return. You will also have to attach Form 8283, which is where more detailed information on your non-cash contributions are found.

The IRS applies some limitations that can cap the value of your land donation, whether you donate real estate or anything else. You have to donate to an IRS-recognized charity. Giving Center is an IRS approved 501(3)3 charity organization, This means your charitable land donation counts as a tax-deductible.

You will need to transfer ownership of your land to the charity. This is a legal maneuver you may want to consult your attorney about. You may need to find out if you need to get an appraisal of your land to determine its fair market value, which is only typically needed if the value of the donation exceeds $5,000. Appraisers must meet certain guidelines, such as their certification requirements.

Giving Center can also help you out with other types of real estate donations such as a house donation, land contract donation, farmland donation, commercial property donation, industrial property donation, rental property donation.

Comments

Post a Comment

Popular posts from this blog

Sacramento Furniture Donations

Image
If you live in Sacramento California and have furniture that you no longer need, there is a great charitable organization that will be happy to take most items off your hands. Whether you live in Rosemont, Elk Grove, Rancho Cordova, or any other cities close to Sacramento, you can make an easy   furniture donation   with the   With Causes Charitable Network . Sometimes, the easiest way to deal with moving furniture from one location to the next is to not move it at all. It can easily end up costing you  more  to have movers ship all of your old furniture to your new home. Or maybe you are just replacing your furniture in your home or office. Whatever the case,  donating furniture  to charity is a fantastic solution for offloading used household items. All throughout California, there are many charities that will gladly take your items off your hands. However, if you are in the Sacramento area, consider donating to the  With Causes charitable Netwo...
Read more

Businesses And Charitable Contributions

Image
Some new studies coming out are showing millennials have driven the social responsibility movement to all new heights, with 70% of them reporting that they are planning to spend more with brands that  support causes . Given that millennials represent $2.45 trillion in spending power, the idea of “giving back” can be very powerful for your company’s sales, not to mention, it’s overall purpose. Enterprise businesses have come up with some really creative ways of doing social good. You do not need a huge budget or full marketing team to execute a strong “giving back” campaign. Corporate donation is a great way to generously help a  charitable organization  that matter to you, your employees, and your community. Most businesses are able to make charitable donations each year. There are lots of benefits to corporate donations, but here are four that you might want to consider. Employee Morale Corporate donations allow companies to take active rolls in their own commun...
Read more

Wondering What To Do With That ATV That's Been Taking Up Space?

Image
Does your family have an idle like an ATV taking up space in the garage? Reliable, trustworthy, rewarding  ATV donation   is possible online with   Giving Center . Giving Center promises to deliver the best   impact on the community   with your generous   ATV donation …by carefully screening recipients, spending as much as possible of the proceeds on beneficiary programs, as well as by giving back to you. When you   donate ATV , all proceeds (or repurposing) help a great variety of programs and peoples alike— including you. You qualify for a   fair market value tax deduction   because when you make a donation with us, you are making a donation to an IRS qualifying nonprofit charity. Small recreational vehicles like ATVs are fun and useful, but they can often be much more difficult to sell than other vehicles. When the time comes to upgrade or simply get rid of your used ATV, donation is an easy option. Rather than dealing with the headac...
Read more