Benefits of the Legacy Property Fund
Keystone Conservation Trust designed the Legacy Property Fund to provide maximum financial and philanthropic benefits to individuals and non-profit organizations through the sale of homes and other real estate. The tool also provides conservation benefits, relieves one of the burden of moving, and offers a powerful mechanism to demonstrate philanthropic leadership in one's community - generating new capital for philanthropy.
Much like the donation of an appreciated security, the donation of part or all of one's property into the Legacy Property Fund allows a donor to minimize taxes and transaction costs while maximizing philanthropic benefits according to one's own personal timetable and needs:
- * Minimizes or eliminates capital gains tax at the time of sale, and
instead converts the saved tax into a charitable gift while receiving an income
tax deduction. How does this
impact my taxes?
- * Reduces transaction costs of the sale (i.e., transfer tax,
brokers' and legal fees)
- * Shifts the home from being an estate tax burden to a
significant charitable asset and gifting opportunity within one's wealth
- *Gives your preferred charity(ies) the full, higher donated
value of the asset gift, not reduced by taxes and transaction costs
With the Legacy Property Fund tool, Keystone Conservation Trust also provides non-tax benefits to the donor and non-profit organization(s):
- * Allows the donor to live on the property for as long
- * Handles all aspects (logistics and liability) of
the donation and sales transaction
- * Accepts and resells any residual property
(furniture, etc.) for charitable benefit
- * Distributes the net sales proceeds to
charity(ies) of the donor's choice
Through the Legacy Property Fund, Keystone Conservation Trust offers significant conservation benefits to the donor and organization(s):
- * Conserves the beauty of the donated
property forever at the time of re-sale
- * Magnifies the conservation impact
for an individual by pooling the individual's home sale proceeds in the Legacy
Property Fund with the monies from others. The pooling increases the total
amount and flexibility available through the Legacy Property Fund for critical
conservation projects in need.
- * Protects our cherished natural
and cultural resources from sprawling development
The Legacy Property Fund allows donors of all income ranges and property values to consider meaningful gifts to their favorite charity(ies) through their home'a gift which many have never considered, can provide individual tax savings and can translate the savings into philanthropic gifts. These 'Homes for Philanthropy' can demonstrate philanthropic leadership at all levels for many.