Gifts of Personal Property
Real Estate
Real estate is a compelling asset to consider donating to Beth El. Whether a residence, vacation home, or undeveloped land, this type of gift is a great way to have an impact.
Because each property is unique, Beth El will need to collect and review information about each property before the gift is accepted. Please contact our Director of Charitable Giving, Matt Walzer, at 952.873.7309 or mwalzer@bethelsynagogue.org to discuss your proposed contribution.
Ways that gifts of real estate may be given to Beth El are:
- Outright gift
- Gift through a will or trust
- Transfer on death deed (TODD)
- Charitable Remainder Trust (CRT)
- Retained life estate
Tangible Personal Property
When you give a gift of tangible personal property to Beth El, you may be able to claim a charitable income tax deduction for either the fair market value of the gift or the property’s cost basis, which is usually, the price you paid for the item. Beth El’s gift acceptance committee review potential gifts of tangible personal property. If you are interested in making a donation of this type, please contact our Director of Charitable Giving, Matt Walzer, at 952.873.7309 or mwalzer@bethelsynagogue.org to discuss your proposed contribution.
Once a gift is accepted, under IRS guidelines, you are responsible for substantiating the value of your gift. For donations valued at greater than $250, Beth El will provide a gift acknowledgement. Please note that the IRS also states:
- For gifts valued at more than $500, you are required to submit an IRS form 8283 with your federal income tax returns.
- For gifts valued at more than $5,000, you are required to obtain a qualified appraisal and the signature of the charitable organization (Beth El) on Form 8283 verifying the property has been received.
DISCLAIMER
Information on this website is not intended as legal or tax advice. Please consult your professional advisor for information on how any gift may affect your tax situation.