What Every Tiger Needs to Know About Real Estate Charitable Gifts

For Roger A. Philips ’67 P98, an investment property had become a case of “good news/not-so-good news.” The good news was that the property, which he’d owned for more than 10 years, had doubled in value. The not-so-good news was that maintaining and managing the property had become a hassle. The obvious solution was to sell. But Philips did some research, and a gift to Princeton was his preferred option.

It’s a decision that made sense for him on several levels. Donating the property had attractive tax advantages, gave him immediate income and also provided a new way to support the University in its educational mission. “My belief is that higher education is critical to the future of our country,” Philips said. “Young people need to learn how to tell truth from falsehood.”

Working with Princeton’s Gift Planning team and consultant Gary Snerson, Philips chose to create a charitable gift annuity (CGA). One of the benefits was the “attractive rate of return on the CGA, a percentage that would be very hard to beat in the market,” he said. He now receives quarterly annuity payments by direct deposit, a large percentage of which are tax-free.

Real estate is often the most valuable asset in any portfolio, whether it’s a vacation home, a commercial property, a tract of land or the home you’ve shared with your family. When the time comes for downsizing or deaccessioning property, a donation can be an appealing option.

To help break down the many financial aspects of real estate gifts, the 1746 Society is hosting a special webinar, “Real Estate Charitable Gifts: Replace Tax Due with Tax Deduction,” on Thursday, Nov. 14, from 4 to 5 p.m. EST.

In this webinar, consultant Snerson, senior vice president of Charitable Solutions, LLC, and a longtime real estate attorney, will highlight how to:

• learn capital gains tax strategies
• reduce estate taxes
• qualify for a charitable income tax deduction
• generate income to the donor/beneficiary for life

And of course, beyond the financial benefits of a real estate gift are the rewards of building your Princeton legacy while supporting future generations of Tigers. All planned gifts, large and small, provide critical support for the University’s exemplary financial aid program and for the programs, research, facilities and faculty that together make the experience of being a student at Princeton truly transformative.

Real estate gifts can turn a “good news/not-so good news” situation into a “win-win,” as they did for Roger Philips.

“Donating my property worked out well for me,” Philips said. “And I’m pleased to be able to support higher education this way.”

Register for the Webinar

What: “Real Estate Charitable Gifts: Replace Tax Due with Tax Deduction”
When: Thursday, Nov. 14, 4 p.m. EST
To register: Click here to sign up for the interactive webinar.

For additional information, visit the 1746 Society’s website.
Questions or need help with registration? Please contact Princeton Gift Planning through email at 1746soc@princeton.edu, or by phone at 609.258.6318.