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Gifts of Real Estate
(Complete gift description)

Gifts of real estate can frequently save you thousands of dollars in income, estate, and capital gains taxes, while providing a substantial benefit to PENN Medicine.

We can accept gifts of residential, commercial, or undeveloped real estate. You receive a charitable income tax deduction based on the fair market value of the property, with no capital gains liability on the transfer. You are freed from paying real estate taxes, liability insurance, and maintenance costs on the property.

In some cases, PENN Medicine may use the property for our purposes. In most cases, we will sell it and apply the proceeds to the program you direct.

Some gift planning options:

1. Your gift of real estate can return lifetime income to you, or continue an income stream if you are donating commercial property.  Learn more about creative, flexible charitable remainder unitrusts.
2. You can sell your property to us at a discounted value.  Take your payment in a lump sum or as income from an installment note, and receive a deduction and reduce capital gains taxes too. Learn the benefits of a charitable bargain sale.
3. You can donate your home or vacation property to us but reserve the right to use it during your lifetime.  You will receive an income tax deduction; you won't disturb your living arrangements. Learn more about retained life estates.
4. You can give us a portion of your ownership of a piece of property.  Deed us an Undivided Fractional Interest in a building that you may sell, or land that you may develop, and we can share in the benefits with you.

Important considerations

• We must review and approve the transfer before the gift of real estate can be completed.  Among other issues, we will consider the property's marketability and environmental status.
• You will have to secure an independent appraisal to establish the property's value for the charitable deduction.
• Transferring property that carries a mortgage or other debt can result in income tax liability.  We can discuss this with you and your advisors as you are considering your gift.

For more information

Email us, complete the personal illustration form, or call us at 215-898-9486 so that we can assist you through every step of the process.