Senior couple looking away from camera in mountains

Gifts of Real Estate

Make an Outright Gift

You may deed your property to Mercy Foundation North and gain an income tax deduction for the appraised value of the property. If you wish, you may then designate how the proceeds are to be used by the Foundation.

Give Your Property and Continue to Enjoy It

The Retained Life Estate agreement is an opportunity to continue living in or using your home, vacation home, or rental while also establishing a gift now—and to enjoy the benefits, including current tax savings, that usually characterize only lifetime charitable gifts. While nothing changes in your current lifestyle or your use of the property, the Retained Life Estate arrangement generates a sizable income tax deduction for you in the year you establish the gift. At the end of the Retained Life Estate term (usually your lifetime or joint lifetimes), the property goes to Mercy Foundation North as the charitable recipient. The donor is responsible for all taxes, maintenance, etc. on the property during their lifetime.

What if I Depend on the Property for Income?

A Retained Life Estate agreement will allow you to continue using the property productively or renting it to others during your lifetime. You can then enjoy the income tax savings immediately or save it for the future or for your heirs.

A Gift that Yields an Income Stream

It is possible to generate or replace income from real property (while avoiding or reducing capital gains taxes on the sale of the asset) through a charitable remainder trust. In this scenario, the donor must put the property into a trust before there is a signed purchase offer on the property by a third party.