You may be looking for a way to make a significant gift to support Geneseo that makes a lasting impact on the lives of students. A bequest is a gift made through your will or trust. It is one of the most popular and flexible ways you can support the College.More
Gift Annuity for Real EstateJonathan purchased his home many years ago for $80,000. The home is now worth $420,000. Jonathan wants to sell his home and buy a condo for $130,000. If Jonathan were to sell the home and use his one-time $250,000 home exclusion, he could offset part of the gain but would still have to pay capital gains.
Is a charitable gift annuity for real estate right for you?
If you own highly appreciated property, such as real estate, you could benefit from using the real estate to fund a charitable gift annuity. The annuity, coupled with the use of a home exclusion, could help you avoid capital gains, provide you with a charitable income tax deduction in the year of the gift and could increase your income.
Please call us if you have questions about charitable gift annuities. We would be happy to answer any questions that you have.
*Please note: The name and image above are representative of a typical donor and may or may not be an actual donor to our organization. Since your gift annuity benefits may be different, you may want to click here to view an example of your benefits.