Real Estate

Providence Hospitals Development Foundation can accept gifts of almost any type of real estate (personal residence, vacation home, farm land, commercial property and undeveloped land). Gifts of real estate often offer many of the same benefits as gifts of appreciated securities.

Federal income tax charitable deduction

An individual who donates unoccupied real estate, held for longer than one year, is entitled to an immediate federal income tax charitable deduction equal to the full fair market value (FMV) of the gift. Although this deduction is subject to a limit of 30 percent of your adjusted gross income, you may carry over the remaining unused deduction for up to five years.

Capital gains tax avoidance

A donation to Providence Hospitals may allow for an income tax deduction for the full market value of the gift, and no capital gains will be realized.

Gift and estate taxes

A gift of appreciated property to Providence Hospitals is not subject to gift or estate taxes.

Providence Hospitals Development Foundation reviews all potential gifts of real estate to ensure that acceptance is appropriate and does not impose liability on Providence Hospitals.