Real estate: Real power to leave your legacy
Nearly anyone who has appreciated
real estate assets available—
a primary residence, vacation condo
or second home, can leverage their
properties to achieve their
With the current state of the real estate market, there is no better time to think about philanthropic options. Real estate often comprises more of our individual personal wealth than do stocks, bonds or outright cash. Imagine the good that those dollars could do for Banner Health Foundation or Banner Alzheimer’s Foundation.You may view the process as complicated and time-consuming, and possibly overwhelming with family members and other beneficiaries, but there are incredible opportunities for return with a gift of real estate.
Who should consider a gift of real estate?
Nearly anyone who has appreciated real estate assets available—a primary residence, vacation condo or second home, commercial property or small rental units, for example—can leverage their properties to achieve their philanthropic goals.
Also keep in mind these factors that create the most favorable conditions for donating real estate. The donor:
- Plans to use the charitable deduction
- Owns property that has appreciated in value
- Owns property debt-free or with a relatively small loan on the property
Why consider a gift of real estate?
Giving gifts of real estate must first—and always—stem from your goodwill to help Banner Health so that we can continue our mission to serve our patients, advance research and above all help the communities where we are located.
But there are financial and philanthropic benefits that make gifts of real estate an enticing option. They may include:
- Receiving an income tax charitable deduction, equal to the appraised fair market value of the property.
- Eliminating capital gains tax that would result after first selling the property and then donating to the nonprofit.
- Getting cash back from the gift transaction, a lifetime income stream or being able to live on the property after the gift is complete.
Assemble an expert team
Your team should include a financial advisor, estate planning attorney and a gift planning professional, as well as a consultation with your family members and loved ones. We would be happy to help you and your team if you would like to consider a gift of real estate. Please contact Laurie Susie, Chief Development Officer for Planned Giving, at Laurie.Susie@BannerHealth.com or by phone at 602-747-4485.