Gifts of Real Estate, Securities, Life Insurance, and Other Property
Real Estate
You can make an outright gift of your property to Garden now or through your estate, or use your property to fund a life income gift such as a trust or an annuity. You can also use one of the following techniques to activate your property as a valuable asset for Garden while providing resources for yourself and your family. We encourage you to contact us for more information, and to discuss your plans with your advisor.
Retained Life Estate
By making a simple agreement between you and Garden School, you can give your home or other property to Garden now, and live in that property for the rest of your life. While you will still be responsible for upkeep and taxes on your property during your lifetime, you receive an immediate income tax deduction (subject to a qualified independent appraisal of your property) and peace of mind that your property will not be taxed as part of your estate.
Bargain Sale
Subject to a qualified independent appraisal, you can sell your property to Garden School at a reduced cost and take a charitable deduction for the difference between the fair market value of your property and the price at which you sold it to Garden. This kind of gift allows you to avoid a capital gains tax on the property, achieve an immediate charitable deduction, and still benefit from the sale. In addition, Garden School may then use the property, or the net proceeds from its sale, to further our mission.
Securities
You can transfer a gift of stock directly to The Cooper Union, achieving an immediate charitable deduction while avoiding capital gains tax on gifts of appreciated securities.
Life Insurance Policies
Have a life insurance policy that you no longer need? You can use your policy to make a gift to Garden School. If you transfer ownership of the policy to Garden School and designate Garden as the beneficiary, you are entitled to an immediate charitable deduction for income tax purposes. If you continue to pay the premiums so that Garden can keep the policy in force, each payment may count as a deductible charitable donation. In addition, the policy will be removed from your estate, which can mean significant estate tax savings.
Other Property
If you would like to make a gift in kind of books, tools and other resources to Garden School, contact us to learn more or to arrange your donation.
The information contained herein is not intended as legal or tax advice. We recommend that you consult with your attorney or financial advisor for questions concerning your individual situation.
