Want to make a profound difference at UNH without touching your bank account? Consider making a gift of real estate (i.e. personal residence, vacation home, farm, commercial property or undeveloped land). Such a generous gift benefits Wildcats for years to come. And a gift of real estate also helps you. When you gift appreciated property (having a fair market value greater than its original purchase) you have held longer than one year, you may qualify for a federal income tax charitable deduction. This eliminates capital gains tax. And, even better, you no longer have to deal with that property's maintenance costs, property taxes or insurance.
Another benefit: You don't have to hassle with selling the real estate. You can deed the property directly to UNH to make an impact today, or add a few sentences in your will or trust agreement to direct the proceeds of the sale of your home to further UNH programs and initiatives and help future UNH students.
Ways to Give Real Estate
You can give real estate to UNH in the following ways:
Want to sell us your property for less than the fair market value? A "bargain sale" may be the answer. When you make a bargain sale, you sell your property to UNH for less than what it's worth. The difference between the actual value and the sale price is considered a gift to us. A bargain sale can be an effective way to dispose of property that has increased in value, and it is the only gift vehicle that can give you a lump sum of cash and a charitable deduction (when you itemize) at the same time.
You can contribute any type of appreciated real estate you have owned for more than one year, provided it is unmortgaged, in exchange for an income stream for life or a term of up to 20 years. The donated property may be a residence (a personal residence must be vacant upon contribution), undeveloped land, a farm, or commercial property. Real estate works well with only certain variations of charitable remainder trusts. Your estate planning attorney, who will draft your trust, can give you more details.
This gift can be a wonderful way for you to make a valuable gift to UNH and simultaneously transfer appreciated real estate to your family tax-free. You should consider funding the charitable lead trust with real estate that is income-producing and expected to increase in value over the term of the trust.
When you transfer real estate to your donor-advised fund, you avoid capital gains taxes and qualify for a federal income tax deduction based on the fair market value of the property if you itemize your taxes.
When you make a gift today of real estate you have owned longer than one year, you qualify for a federal income tax charitable deduction equal to the property's full fair market value. This deduction lets you reduce the cost of making the gift and frees cash that otherwise would have been used to pay taxes. By donating the property to us, you also eliminate capital gains tax on its appreciation.
A gift in your will or living trust allows you the flexibility to change your mind and the potential to support UNH with a larger gift than you could during your lifetime. In as little as one sentence or two, you can ensure that your support for UNH continues after your lifetime.
Perhaps you like the tax advantages a gift of real estate to our organization would offer, but you want to continue living in your personal residence for your lifetime. You can transfer your personal residence or farm to UNH but keep the right to occupy (or rent out) the home for the rest of your life. You continue to pay real estate taxes, maintenance fees and insurance on the property. Even though UNH would not actually take possession of the residence until after your lifetime, since your gift cannot be revoked, you qualify for a federal income tax charitable deduction for a portion of your home's value.
Next Steps
- Contact UNH's Office of Gift Planning for additional information on making gifts of real estate so we can help you direct your gift to the UNH cause that means the most to you.
- Discuss the giving options with your personal advisors to be sure the gift vehicle you choose is the right fit for you.
- Please let us know if you have made this gift to UNH in your estate plans, and we would be happy to recognize you in our Thompson Society, a special community of forward-thinking UNH alumni and friends who have created their legacy here. It is important to complete simple documentation with UNH to ensure we honor your wishes down the line.
Please feel free to share the sample bequest language below with your attorney:
Sample Language “I give to the University of New Hampshire Foundation, Inc., at 9 Edgewood Road, Durham NH 03824, a New Hampshire nonprofit corporation, or its successor, Federal Tax Identification Number 02‐0437506, [insert here a description of the particular property]."
Please use and share the following legal information with your trusted advisors.
Legal Name: The University of New Hampshire Foundation, Inc.
Address: 9 Edgewood Road, Durham NH 03824
Tax ID: 02‐0437506
*Legal and ethical requirements, designed to protect the donor, the University and UNHF, prohibit the University from appraising most gifts. Such appraisals are to be conducted by appraisers independent from the University. The cost of an appraisal will be the donor’s responsibility.
We're here to help you!
Please contact the UNH Office of Gift Planning with your questions.
Email: gift.planning@unh.edu
Phone: (603) 862-3694
Welcome to the Thompson Society!
During the Celebrate 150 Campaign (2012-2018), more than 200 families made planned gifts to UNH, ranging from $10,000 to millions of dollars, which have already started to have an impact on future generations. But the story of legacy goes back to the origins of UNH when Benjamin Thompson left his farm and other assets to establish what would ultimately become the Durham campus of the University of New Hampshire.
The Thompson legacy has impacted hundreds of thousands of lives, and yours can, too.
As a legacy donor, you'll become a member of the Thompson Society, a distinguished group of supporters who have documented planned gifts to UNH. The UNH Office of Gift Planning will work with you to explore options that best meet your philanthropic goals and timeline--whether you wish to make an immediate impact, generate income with your gift, or make gifts through your will.
We look forward to welcoming you to this prestigious membership of generous donors providing support to generations of Wildcats to come, and we are honored to work with you to create your UNH legacy.
