Want to make a big gift to the University of Houston without touching your bank account? Consider giving us real estate. Such a generous gift helps us create a brighter future for our students for years to come. And a gift of real estate also helps you. When you give us appreciated property you have held longer than one year, you get a federal income tax charitable deduction. You avoid paying capital gains tax. And 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 UH or ask your attorney to add a few sentences in your will or trust agreement.
Ways to Give Real Estate
You can give real estate to the University of Houston in the following ways:
Submit a few details and see the benefits of an outright gift.
An outright gift. When you make a gift today of real estate you have owned longer than one year, you obtain 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. Furthermore, the transfer is not subject to the gift tax, and the gift reduces your future taxable estate.
A gift in your will or living trust. A gift of real estate through your will or living trust allows you the flexibility to change your mind and the potential to support our work 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 the University of Houston continues after your lifetime and that your estate will benefit from a federal estate tax charitable deduction.
Submit a few details and see the benefits of a retained life estate.
A retained life estate. 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 the University of Houston 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 we would not actually take possession of the residence until after your lifetime, since your gift cannot be revoked, you receive an immediate federal income tax charitable deduction for a portion of your home's value.
Submit a few details and see the benefits of a deferred charitable gift annuity.
A deferred charitable gift annuity. Are you tired of the hassles of maintaining your property such as paying taxes, utilities and repair bills? Consider donating the property to University of Houston in exchange for reliable payments for life for you (and someone else, if you choose). When you arrange a charitable gift annuity, you're allowed a federal income tax charitable deduction in the year you set up the gift annuity when you itemize on your taxes. If you use appreciated real estate to make a gift, you can usually eliminate capital gains tax on a portion of the gift and spread the rest of the gain over your life expectancy. A gift of unmortgaged property to fund a deferred gift annuity is preferable and generates the greatest tax benefit.
Submit a few details and see the benefits of a bargain sale.
A bargain sale. 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 our organization 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 at the same time.
Submit a few details and see the benefits of a charitable remainder unitrust.
A charitable remainder unitrust. You can contribute any type of appreciated real estate you've owned for more than one year, provided it's 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.
A memorial or endowed gift. A gift of real estate may be a perfect way to honor your loved one in perpetuity. When you make an endowed gift of real estate, your contribution is invested with and becomes part of our endowment. An annual distribution is made for the purpose you designate. Because the principal remains intact, the fund will generate support in perpetuity.
Supporting Athletics Then and Now
Doug Allums '52 is a longtime fan of UH sports and attributes his dedication to his college experiences and the strong school spirit on campus.
"The football games brought a strong camaraderie to the student body," Doug said. "And the marching band brought so much entertainment to a game."
Because he is an enthusiastic university supporter, Allums decided to make a real property bequest in support of athletics, the Cougar Marching Band and the Bauer College of Business-where he earned a degree in business administration in 1952. By giving real estate through his will, Allums ensures that the value of the property he bequeathed will qualify for a charitable deduction that will lessen the estate tax burden for his heirs.
Just as Allums' memories of UH are a part of him, he has become a part of the university.
- Contact Office of Gift Planning at 713-743-8680 or firstname.lastname@example.org to discuss the possibility of giving real estate to the University of Houston.
- Seek the advice of your financial or legal advisor to make sure this gift fits your goals.
- If you include the University of Houston in your plans, please use our legal name and federal tax ID.
Legal Name: University of Houston
Address: 4800 Calhoun Road, Houston, TX 77004
Federal Tax ID Number: 74-6001399
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under this agreement, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.