Consider making a gift of real estate to the University of Kentucky Real Estate Foundation. UK provides you a variety of ways to support the programs and students on campus, including donating residential or commercial property, transferring your farm or forest land or designating your mineral rights to the foundation.
Your property will be sold, and the sale proceeds will be used to benefit your chosen area at UK (e.g. to establish a scholarship or to support a college or program). Real estate can also become a resource for future growth and expansion. A home, farm, office building or undeveloped lot can greatly benefit UK.
Under current statutes, you receive a tax deduction for the full fair market value of your real estate gift, up to 30 percent of your adjusted gross income. Any unused portion of the gift deduction can be carried forward for up to five years.
Gifts of real estate also could be personally beneficial, allowing you to avoid capital gains tax or be used to fund a Charitable Remainder Trust, generating income for you and your beneficiary for life.
Learn more about your real estate giving options.
For additional information, contact the Foundation’s Executive Director Ford Stanley at (859) 257-7882 or ford.stanley@uky.edu.