Call for a Donation Specialist
to Assist You Now!

800-237-8890

A Divison of Restoration America.
A 501(c)3 Charity.


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Information for Charities

Real Estate Donations

C/O Restoration America
86 N. Williams St.
Crystal Lake, IL
1-847-783-0232 Office
1-224-293-6110 FAX

Contact Real Estate Donations to Find out how We will pay you 4.5% annually on your property donation. To find out if donating real estate is right for you, click here to learn more about the tax benefits.
Click here for a list of acceptable property types.
We participate on Guidestar, the online standard for nonprofit accountability.


FAQs

Who Should Donate?

  • Those that want to help charities
  • Anyone that desires an IRS tax write-off
  • Uninsured catastrophes
  • Businesses with abandoned properties
  • Fully depreciated properties

What Kind of Real Estate Can Be Donated?

  • Residential
  • Industrial
  • Apartments
  • Any Type of Mortgages
  • Properties Subject to Life Estates
  • Commercial
  • Vacant Land
  • Hotels
  • Any Type of Land Contract

 

What Are The Benefits For Donors?

Donors receive a receipt for a tax deduction equal to the highest real estate appraisal of the donated property. The usual headaches associated with selling real estate with various challenges are eliminated. Donors can feel good about giving back to their community without stretching their budgets.

How do I Establish “Fair Market Value”?

The following rules apply in order to establish a “fair market value” acceptable to the Internal Revenue Service (IRS): The IRS requires that all property donated that has a value of five thousand dollars ($5,000.00) or more have a “qualified appraisal” to establish a “fair market value”. The appraisal must be performed by a “qualified appraiser” and must be attached to Form 8283 “Noncash Charitable Contributions” and made a part of your tax return. It is suggested that you keep a copy of the appraisal as part of your record of contribution.

How long does it take to see if the charity is interested in my property?

Typically the Specialist will be able to determine if the property will make a suitable donation at the appointment. If the Specialist recommends the donation, we can complete the Donation Package paper work at that time. Please note that if there is more than one owner of the property, or the property is owned by a married couple, all parties must be present to sign the documents. The Donation Package consists of 4 documents: 1. A Quit Claim Deed from the Donor to the Charity. 2.

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A Warranty Deed from the Donor to the Charity 3. A Donation Agreement 4. A Declaration and Deed of Gift

What is a suitable donation?

After the inspection the charity will decide if the property will make a suitable donation. This is a donation that the Charity is reasonably certain that it will be able to: 1. Quickly liquidate and convert the property into cash for the charity; 2. Be utilized immediately by the charity

How Long Does it take to Donate a Property?

Donations can be immediate and we prefer to get

them completed quickly. We are here to help you through the process. You will have expert advise you through the whole process and we will work with your accountants and CPA’s to insure you are getting the maximum benefit from your donation.

Can the Charity reject a property that was previously deemed a suitable donation?

Yes. Rarely, during the Liquidation Period the charity may decline the donation, even if it was previously determined to be suitable In rare cases, a property is accepted that the Charity is unable to liquidate. Reasons may include previously undisclosed or latent defects with the property, environmentally contaminated properties, or uncorrectable title issues. In this case, the entire Donation Agreement would be declared null and void, and the charity will rescind any interest in the property. If you are aware of any issue that may affect the liquidation of your donation, please disclose that to us during the initial phone call, or the initial inspection. Non-compliance may result in a later rejection of your donation.

Do I need to pay for title work?

No. The charity will pay for the Title Search, Title Work, and any Closing Costs.

When Can I claim the deduction?

You claim the deduction in the tax year the property was donated.

How Much Can I Claim?

You have 3 options: 1. You can pay for a Qualified Appraisal, and use that value for your deduction, 2. You may elect to use the tax assessed value assigned to the property by the local taxing authority. However, the IRS may contest this amount during an audit, 3. The IRS allows a Real Property donation of up to $4999 without a Qualified Appraisal. You should discuss your tax situation with your Accountant or Tax Professional or click here for our tax section.

Can you recommend a Qualified Appraisal to me?

ABSOLUTELY NOT! Federal Collusion Laws strictly forbid this. You can find one locally in your Yellow Pages, or ask a local real estate agent or mortgage broker for a referral.

Can I make a partial donation?

Yes. Sometimes it is more beneficial to sell a property, and make a partial cash donation at the closing to the Charity. If you have questions, Please contact one of our Donation Specialists , your Accountant or Tax Professional.

Do you Accept Vacant Land?

Sometimes. This is on a case-by-case basis.

Do you accept “environmentally contaminated” property?

Sometimes. These are on a case by case basis. Obviously the charity cannot expose itself to the liability of a serious hazard. If environmental tests have been

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completed (Phase I and/or “Baseline Testing) and the records are available, the donation process can be greatly accelerated.