Join our Legacy Donor group.
Share your Aloha by supporting Oni Foundation through a substaintial contriribution. There are a several funding vehicles that are possible
Ways to Give.
Would you like to make a meaningful gift to support our work?
Consider a Financial Legacy Gift.
[give_form id=”614″]
Do you own real estate that you no longer want?
A gift of real estate opens the door for you to make a significant impact on our future, and may provide you with valuable tax deductions
1. Donate marketable real estate.
You may consider contributing real estate to charity as long as the charity can sell the property in a timely manner (i.e., it is a marketable property and relatively easy to liquidate). In addition, it makes sense to donate real estate where:
- The property has been held for more than one year and has appreciated significantly.
- The property is debt free. If there is debt on the property, you may be subject to IRS “bargain sale” rules, which can generate some capital gains tax and lower the value of your charitable deduction. In addition, the debt may be taxable to the charity when the property is sold (e.g., acquisition indebtedness).
- You are willing to transfer the property irrevocably to the donor-advised fund or other public charity, which will negotiate the sale price and control the sale, often using an experienced intermediary.
2. Avoid prearranged sales.
If a sale is expected prior to your charitable contribution of real estate, then the terms of the sale should still be under negotiation. The documentation must not have proceeded to the point at which the IRS would consider it a prearranged sale. In that unfortunate instance, the IRS may deem your donation an “anticipatory assignment of income” to the charity. As such, you may be required to pay capital gains taxes when the real estate is sold by the charity.
3. Qualified appraisal requirements and annual deduction limits apply.
Overall deductions for donations to donor-advised funds are generally limited to 50% of your adjusted gross income (AGI). The limit increases to 60% of AGI for cash gifts, while the limit on donating appreciated non-cash assets held more than one year is 30% of AGI. The IRS permits a carryover for five tax years, should your charitable deduction exceed AGI limits in a given tax year.
To substantiate your charitable income tax deduction, you are required to complete Form 8283 and obtain a qualified appraisal from a qualified appraiser for contributions of real estate in excess of $5,000.
[give_form id=”614″]
1. Donate marketable real estate.
You may consider contributing real estate to charity as long as the charity can sell the property in a timely manner (i.e., it is a marketable property and relatively easy to liquidate). In addition, it makes sense to donate real estate where:
- The property has been held for more than one year and has appreciated significantly.
- The property is debt free. If there is debt on the property, you may be subject to IRS “bargain sale” rules, which can generate some capital gains tax and lower the value of your charitable deduction. In addition, the debt may be taxable to the charity when the property is sold (e.g., acquisition indebtedness).
- You are willing to transfer the property irrevocably to the donor-advised fund or other public charity, which will negotiate the sale price and control the sale, often using an experienced intermediary.
2. Avoid prearranged sales.
If a sale is expected prior to your charitable contribution of real estate, then the terms of the sale should still be under negotiation. The documentation must not have proceeded to the point at which the IRS would consider it a prearranged sale. In that unfortunate instance, the IRS may deem your donation an “anticipatory assignment of income” to the charity. As such, you may be required to pay capital gains taxes when the real estate is sold by the charity.
3. Qualified appraisal requirements and annual deduction limits apply.
Overall deductions for donations to donor-advised funds are generally limited to 50% of your adjusted gross income (AGI). The limit increases to 60% of AGI for cash gifts, while the limit on donating appreciated non-cash assets held more than one year is 30% of AGI. The IRS permits a carryover for five tax years, should your charitable deduction exceed AGI limits in a given tax year.
To substantiate your charitable income tax deduction, you are required to complete Form 8283 and obtain a qualified appraisal from a qualified appraiser for contributions of real estate in excess of $5,000.