Charitable Bargain Sale
Make a gift to us while getting cash to meet your obligations, or an assured stream of income for retirement.
How It Works
- You sell your residence or other property to the Elim Park Foundation for a price below the appraised market value—a transaction that is part charitable gift and part sale.
- The Elim Park Foundation may use the property, but usually elects to sell it and use the proceeds of the sale for the gift purposes you specified.
Benefits
- You receive an immediate income tax deduction for the discount you took from the appraised market value of your property.
- You pay no capital gains tax on the donated portion of the property.
- You can receive payment from us in a lump sum, or in fixed installments.
Next
- More details on Charitable Bargain Sales.
- Frequently asked questions about Charitable Bargain Sales.
- Contact us so we can assist you through every step.
The Elim Park Legacy Foundation is a 501(c)(3) organization that secures philanthropic support to elevate the resident experience at Elim Park Baptist Home by funding enhanced amenities, specialized care, and innovative wellness programs that promote the quality of life while providing donors with a sense of purpose, tax benefits, and a lasting legacy.