Health Advisory: A message about COVID-19

Click here to learn more

Real Estate

Real Estate

Leverage a Significant Asset for
Your Benefit and Ours

An outright, irrevocable gift of real estate to CMCS offers you immediate benefits and may be more advantageous
to you than leaving the real estate to CMCS in your will. For more information, please email us at info@cmcs.org.

Making A Gift

When you make an outright gift of real estate that is not subject to a mortgage:

  • You are eligible for an income tax charitable deduction equal to the full fair market value of the property, not just the original cost.
  • If you've owned the property for at least one year, you will not have to pay any capital gains tax at the time of transfer.
  • You provide crucial support to the ongoing mission of Cardinal McCloskey Community Services and help create a better future for the children and adults we serve.

Ways to Donate Real Estate

There are numerous ways to make a gift of real estate, each with its own unique benefits:

Life Income Gift 

Fund a charitable trust, which can provide you, your spouse, or other beneficiaries annual income for life.

Retained Life Estate

With this type of gift, you donate property—such as your home, vacation home, or farm—while retaining the right to live there for the rest of your life. You continue to care for the property, pay the taxes and insurance, and receive all rental income. After your lifetime, that of another person, or a term of years, CMCS takes possession of the property.

Income Tax Charitable Deduction Information

In the year you make your gift, you become eligible for an income tax charitable deduction for a portion of the appraised value of the property If at any point you no longer wish to occupy the property, you can rent it and receive an additional source of income. Or, you can give CMCS the right to use the property for the rest of your life. This may provide you with another charitable deduction.