TRADE LANDS
How Can You Use Surplus Property to Save the Beauty of America?
You can support America the Beautiful Fund® with a donation of
any type of real estate, anywhere. If the property is not appropriate for
ABF's own use, ABF will sell it and use the proceeds to help further its
program.
This is the notion behind ABF's innovative "Trade Lands" program. It enables landowners to support ABF's work with donations of real estate, and enjoy other benefits as well.
The Benefits
Donors can enjoy a tax deduction for the fully-appraised fair
market value of their property. (The appraisal is the donor's responsibility.)
The deduction can be used to offset up to 30 percent of adjusted gross
income in the year of the gift, with any excess carried over for up to
five additional years.
Donors of Trade Lands can also avoid capital gains taxes that would otherwise
be payable if they sold the property outright. They can avoid brokerage
commissions as well, because the property is not sold through a broker.
Donors also avoid estate taxes by having assets removed from their taxable
estate, and there are also tax incentives available for certain types of
deferred gifts.*
What You Should Know
Because of the costs involved in accepting and maintaining properties
until they are sold, there is a minimum value for Trade Lands gifts to
ABF of $50,000.
All prospective Trade Lands properties are confidentially inspected to
ensure that no ecologically significant attributes or environmental hazards
exist.
We urge you to work with qualified tax and legal advisors in order to take full advantage of tax benefits. Our professionals are available to consult with you and your advisors.
For More Information
For more information about ABF's Trade lands program, contact:
Simon Sidamon-Eristoff, Esq.
1100 17th St., NW
Washington, DC 20036
Tel 202-638-1649
*Donating a personal residence or farm to charity while reserving the right to use it for life can provide the donor with a current income tax deduction. (The amount of the deduction is based on IRS actuarial tables, and holding costs remain the donor's responsibility during his life.) Another deferred giving tool, the charitable remainder unitrust, distributes its assets to charity upon termination. It can provide income to the donor for a period of years, as well as a current income tax deduction, without triggering capital gains taxes.
