Outright Gifts of Assets and Retained Life Estates
Other than cash, gifts that may be given outright include long-term appreciated stock, mutual fund shares, and some real estate. Both cash and non-cash gifts offer certain tax advantages and allow TPL to use the gift immediately. When real estate is given, the donor may retain a "life estate" and live on the property during his or her lifetime.
Outright Gifts of Assets
Many donors find giving appreciated assets an attractive way to make a gift to TPL because they are supporting TPL at a lower cost than when making a cash gift.
Stock or Mutual Fund Shares
For securities you have owned for more than one year, you will receive an income tax deduction for the full fair-market value and you will completely avoid capital gains tax.
Real Estate
TPL accepts gifts of approved residential and commercial properties. These properties are then sold and the proceeds used for land protection. You will generally receive an income tax deduction for the full fair-market value of a property you have owned more than one year and completely avoid capital gains tax.
Retained Life Estates
You can donate your residence, vacation home, or farm to TPL, even as you retain full lifetime use of the property. You will receive an immediate income tax deduction for a portion of the fair-market value of the property, and you will continue to be responsible for insuring and maintaining the property and for paying property taxes.
Cumulative gifts to charity of appreciated securities and real estate are deductible up to 30% of your adjusted gross income, with a 5-year carry-over for any excess deduction unusable in the current tax year.
For more information, contact:
J. Gardner Trimble
Director of Planned Giving
The Trust for Public Land
116 New Montgomery Street, 4th Floor
San Francisco, CA 94105
Phone: (415) 495-4014, ext. 537
Fax: (415) 495-4103
gardner.trimble@tpl.org
Updated 3/2008
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