Gifting Real Estate to CBSI

When you give CBSI appreciated property that you have held title to longer than one year, you qualify for a federal income tax charitable deduction. This eliminates capital gains tax (taxes paid on the appreciated assessed valuation at the time of the gift). And you no longer have to deal with that property’s maintenance costs, property taxes or insurance

A gift of real estate can be completed in a variety of ways.... 

Make a direct gift today

If you own the property, simply donate it to CBSI. You qualify for an income tax charitable deduction equal to the property’s fair market value and eliminate capital gains tax on the property’s appreciation. This is a good option if you have property that is no longer of use.

Donate your home, but keep living there

With a retained life estate, you deed a personal residence or farm to CBSI now. You retain the right to occupy the home for life and continue to pay taxes, maintenance and insurance. After your lifetime – or the lifetime of your spouse or another person you choose to retain rights to live in the home – we take possession.

Give through your Will or Living Trust

If you are not comfortable making an irrevocable gift of property right now, consider leaving it to CBSI in your will or revocable living trust. This can be the perfect way to support CBSI because you are able to help us in the future without impeding assets today, and it can be created or changed at any time.

Fund a charitable gift annuity with property

You may wish to consider donating your property to CBSI in exchange for a charitable gift annuity. With a charitable gift annuity, you make a gift and, in return, you (and someone else, if you choose) receive a fixed amount each year for the rest of your life.

Make a Bargain Sale

A bargain sale occurs when you sell real estate that you’ve owned for more than one year to CBSI for less than its current fair market value, subject to our agreement. After we purchase your property:

1. You receive a cash payment from CBSI for the sale price, 

2. You qualify for a charitable deduction for the difference between the sale price and the higher fair market value, and 

3. We receive the property at a bargain price

You benefit financially, and so do we. 

Use property to fund a FLIP charitable remainder Unitrust

Another approach is to use your property to fund what’s known as a FLIP charitable remainder unitrust. Such a trust can be set up to make lifetime payments to you, or any other recipient you name, after the property is sold. Upon your death, CBSI receives the balance (remainder) in the trust. Donating property to a charitable remainder trust may provide you with a number of potential benefits, such as an up-front capital gains tax elimination on the increase in the property’s value since you bought it, an income tax deduction for the present value of the remainder interest and income from the trust for the rest of your life once the property is sold.

Establish a Memorial or Endowment Gift

A gift of real estate is a perfect way to honor your loved one through a memorial or endowment type gift. If you have a loved one whose life has been impacted by CBSI, we hope you’ll consider making a gift to us in honor of that person. When you make an endowed gift, your contribution is invested 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.

Make a big impact with a future gift with your Estate Planning 

(“Estate” being of those lands, cash and investment in your name at the time of your passing).

When you include The CBSI in your estate plan, your generosity helps engage current members, campaign for new members, expand perspectives and empower the greater Highland Clan societies and community at large,  ensuring that CBSI can impact our community well into the future. 

“This eliminates capital gains tax ... and you no longer have to deal with that property’s maintenance costs, property taxes or insurance”

A Gift in your Will

With as little as one sentence, you can make a gift in your will or trust that significantly impacts the high-quality programing and outreach services of CBSI. Whether you choose to give a set amount or a percentage of your estate, your support ensures we are able to continue our work for years to come.

Beneficiary Designations

Naming CBSI as a beneficiary of one of your assets, such as your retirement plan or life insurance policy, is a convenient way to ensure we can continue to serve our community through continuous learning, truthful reporting of our Highland Heritage and Clan identity, healthy dialogue and amplification of diverse voices. 

All it takes is a few minutes and a simple form.

Use your Individual Retirement Account (IRA)

If you are 70½ years old or older, you can take advantage of a simple way to give to CBSI and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity without having to pay income taxes on the money.

Charitable Gift Annuity

Feel confident that you have dependable income in your retirement years with a charitable gift annuity. This gift can provide you with regular payments and provide CBSI with the resources to support the future of our highland culture. You can also qualify for a variety of tax benefits, including a federal income tax charitable deduction when you itemize.  

Charitable Remainder Trust

This type of trust provides you, or other named individuals, income each year from assets you give to the trust you create. At the end of the trust term, the balance in the trust goes to CBSI.

Donor Advised Fund

A donor advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to CBSI and other qualified charities.  

Endowed Gift

When you give to the CBSI and advise us to establish an Endowment fund, you give a gift with both immediate and long-term benefits.   Endowment donations are invested. A portion of the annual income from the investment is used to address immediate needs at CBSI. The remaining funds are reinvested to ensure indefinite support.