Transforming Realty to Gift Reality

Discover All of Your Options
Want to make a significant gift to Bocconi without touching your bank account? Consider donating real estate to Friends of Bocconi University. Such a generous gift helps Friends to continue to support Bocconi per your designation wishes. And a gift of real estate also helps you. When you give Friends of Bocconi appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. This eliminates capital gains tax. And you are no longer responsible for that property's maintenance costs, property taxes, or insurance.
Another benefit: You are not responsible for selling the real estate. You can deed the property directly to Friends of Bocconi or ask your attorney to add a few sentences in your will or trust agreement.
 
Ways to Give Real Estate
You can give real estate to Friends of Bocconi in the following ways:
An outright gift
A gift in your will or living trust
A retained lift estate
A bargain sale
A charitable remainder unitrust
A charitable lead trust
A donor advised fund
 
An Example of How It Works
Elena purchased a rental property years ago and has watched it grow steadily in value. Still active in her career and traveling frequently, she's beginning to find management of the property more and more of a hassle. At this stage of her life, Elena has decided to move to a 55+ condominium development, where all exterior maintenance is provided and she doesn't have to worry about security issues. Elena sees this as an opportunity to give her rental property to Friends of Bocconi while realizing valuable tax benefits.
Elena avoids capital gains tax on the appreciation and qualifies for a federal income tax charitable deduction of $250,000, which is the property's fair market value today. She is able to claim 30 percent of her $200,000 adjusted gross income, or $60,000, in the year of the gift. In the five years following, she can continue to use up the remaining $190,000 deduction. Elena is happy in her new condo and is satisfied knowing that the gift of her property will make a big difference supporting Friends and Bocconi.
 
Make a Gift Today
Learn more about the many ways to use real estate to support Friends of Bocconi University in the guide 7 Ways to Donate Real Estate.  Download My Guide >
 
Next Steps
  1. Contact Cahill Zoeller at (609) 240-3700 or cahill.zoeller@friendsofbocconi.org for additional information on giving a gift of cash.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Friends of Bocconi University in your plans, please use our legal name and federal tax ID.
  4. Let Cahill Zoeller know if you have included Friends of Bocconi University in your plans so that we can invite you to join the Ettore Bocconi Society.
          Legal Name: Friends of Bocconi University, Inc.
          Address: 555 Madison Avenue, 11th floor, New York, NY 10022
          Federal Tax ID Number: 36-4769050

 

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.