Real Estate Gifts Offer Unique Opportunity for Charities and Property Owners

FOR IMMEDIATE RELEASE
San Luis Obispo, California, United States of America (Free-Press-Release.com) December 14, 2011 -- SAN LUIS OBISPO, CA – Holidays are the time for giving. Most people donate food, money or clothes, yet property is often overlooked as a way to give. The Real Estate Foundation of San Luis Obispo County offers an opportunity for people to donate unwanted or underutilized property, with the proceeds from the sale then given to a local charity. The foundation is a division of the San Luis Obispo County Community Foundation.

According to the Real Estate Foundation, only two percent of gifts given to charities are in the form of real estate, yet forty-four percent of the total U.S. net worth is real estate. Charities are reluctant to receive property as gifts because of legal complexities, so the Foundation facilitates the sale of the property and gives the proceeds to the seller’s charity of choice.

“The Real Estate Foundation can accept the donation on behalf of the nonprofit, facilitate it, and then transfer the proceeds to the nonprofit. The nonprofit, in other words, is happy because it benefits from the gift and doesn’t get bogged down in the details. The donor is happy because the gift is managed professionally and the nonprofit gets the money,” said Barry VanderKelen, vice president and treasurer of the Real Estate Foundation.

The properties that are commonly donated include rental or commercial property that has been depreciated. Rather than recapitalize or continue putting up with tenants, the property is donated. The property’s value to the donor is increased because the gift is valued at current market price, which includes all of the capital gains built over the years of ownership. The donation may allow a large tax write-off.

“I see the foundation as a central place to donate to the organizations that have needs in our area. Although I am a SLO County enthusiast and long-time community member, my specialty is real estate, not non-profits. Donating where the need is greatest is often a challenge for me. The Foundation is positioned to make the giving easy and makes me confident that the funds are directed to real community needs,” said Dawna Davies, owner and broker at the Davies Company, who has worked with the foundation as a professional resource.

For more information on the Real Estate Foundation and how to donate, visit www.realestateslo.org.

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Dawna Davies joined the Davies Company in the early nineties and is now owner and broker. She has over 25 years of experience in the sale of homes, investment properties and property management in the San Luis Obispo County area. She is a single–sided broker and has signed over 4,000 closed sales, purchases and leases in her real estate career. For more information, visit http://www.daviesco.com/ or follow her on Twitter @DawnaDavies.

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