What are the benefits of real estate donation for the donor?

Many donors enjoy the freedom from property liabilities, such as maintenance, insurance, association fees, state violations, property and capital gains tax. You can also benefit from a federal tax deduction.

 

Put your financial resources to optimal use. 

Why pour money into an unwanted or unprofitable property you are not benefitting from? Your donation will go directly toward positively impacting the lives of our urban children and youth.

 

Save on your taxes.

By donating to an experienced, trust worthy and recognized 501(c)(3) nonprofit organization Like East Harlem Fellowship, you'll receive a tax-deductible receipt for the appraised value of your land.

 

Hassle-free, simple donation process. 

Our team will work with your legal team as we guide you through the entire process. The transfer can usually be completed in four to six weeks (4-6). 

 

How do I donate property?

We employ a streamlined real estate donation process to make it as simple for our donors as possible. After providing your information, you will be contacted by a member of our team to get a better understanding of your property. East Harlem Fellowship will do a property review, including a title, tax and lien search and a review for environmental issues. When the donation is accepted, East Harlem Fellowship will work you and or your team on all the paperwork and technical aspects of the donation, such as deed transfer and closing. The receipt and IRS form for your deduction will be sent out shortly after closing. Please note that due to IRS regulation EHF is precluded from paying for appraisals and similar expenses. 

 

How does East Harlem determine the approval of a real estate donation?

At EHF, we analyze a variety of different factors to maximize the potential of every property donation. A direct gift is the simplest method of donating real estate. The deed or title is transferred from the donor to the charity. As the donor, you generally receive a tax deduction equal to the fair market value of the property and that deduction may be carried forward for five years.