FundSvcs Community

Claire, I meant to reply to your note last week but got sidetracked.

The short answer is yes, you can find vendors that offer these services through a basic Google search. The longer answer is that real estate is a far trickier asset to donate, and I am not sure I'd use a vendor - not for the charity and not for the donor.

As with the automobile donation intermediaries, the legal donation is made to the vendor's 501(c)(3) arm. The ultimate beneficiary receives only the proceeds. Those proceeds are net of all closing costs and expenses, and you cannot retain the property (if desired), make improvements for a future sale, or negotiate the purchase price. The charity often ends up receiving a fraction of what they might have had they accepted the donation directly.

I cannot think of a client who used such a service. I have only worked with Gift Acceptance committees that first evaluate the pros and cons of accepting the property, then engage their counsel and CFO to hash out the details with the donor and their representatives. That's what we did when I was at Duke and NC State, too.

John