Gifts of Real Estate - page 1

GIFTS OF REAL ESTATE:
DONATE PROPERTY AND MAKE AN
EXTRAORDINARY DIFFERENCE
Explore the many different ways to give real estate.
These philanthropic opportunities have their own
unique advantages, and they all come with the
satisfaction of making an extraordinary difference
in advancing the mission of Johns Hopkins.
From commercial property to private
residences and from farmland to vacation
homes, real estate is often a substantial
source of wealth and an advantageous
asset to use for philanthropy. Such a gift
can benefit any area of and provide
significant support for Johns Hopkins
University and Medicine.
HOW IT WORKS
Prior to accepting a gift of real estate,
Johns Hopkins carefully examines each
property to ensure it complements our
mission. In general, a property should
be valued at $250,000 or more and
readily marketable. Rather than holding
real estate after it is received, Johns
Hopkins normally sells the property so
that the proceeds make an immediate
impact on the area of Johns Hopkins
that you designate.
OUTRIGHT GIFT
Make an immediate impact
When you donate real estate as an
outright gift, if you have held the real
estate for more than one year, you can
avoid the capital gains tax that would
be attributable to the sale of the real
estate. You may also be entitled to an
income tax deduction for the full fair
market value of the property. The
deduction is limited to 30 percent of
your adjusted gross income, and any
excess can be carried forward for up to
five years. Another option, if you do not
wish to donate your entire property, is
to give an undivided percentage interest
and share the sale proceeds with Johns
Hopkins when you sell the property.
Depending on how the gift is
structured and your individual tax
situation, there can be many tax
benefits to giving real estate, from
avoiding the capital gains that you
would incur if you were to sell the
property to removing the asset from
your estate for estate tax purposes.
After you make your real estate
gift, the Office of Gift Planning will
work with you to make sure you
have the necessary information for tax
purposes, including a Form 8283,
which supports your charitable income
tax deduction.
There are different ways to give real
estate, each with its own advantages for
you and Johns Hopkins.
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