Gifts of real estate hold enormous promise for the future of MSRI. You can make a gift of real estate to MSRI and receive substantial financial benefits.
- You may give the real property outright to support the purposes of the Institute and qualify for an income tax deduction on its fair market value.
- You may use a home or land you no longer want or need to fund a life income arrangement. The savings in taxes can be very substantial from giving the property to MSRI, instead of selling the property yourself and giving the proceeds.
If you are contemplating leaving your home to the Institute through your will, you may wish to consider giving it now but retaining the right to live in it for your lifetime and that of a second beneficiary if you wish. You will continue to pay taxes, insurance, and the costs of maintaining the home. By giving now, you receive a substantial charitable income tax deduction in the year that the gift is made and you may carry any excess deduction over for five additional years.
A partial gift of a house through a bargain sale sometimes better suits the needs of the donor. In those instances the donor chooses to sell the house or other property to MSRI at a greatly reduced cost, thus making it possible for the Institute to buy the house while still ensuring a substantial charitable income tax deduction for the donors.
Annie Averitt, MSRI's Director of Advancement and External Communications, is available to work with prospective donors and the donor's legal or financial advisors to help make planned giving arrangements. She can be reached at aaveritt@msri.org or 510-643-6056.
MSRI Development and Alumni Relations web pages are not intended as tax advice.
Know that individual financial circumstances require specific professional guidance. Please contact your legal and financial advisors to see how these general issues apply to you.