Real Estate

Learn more about the many ways to use real estate to support St. Mark's in the FREE guide 7 Ways to Donate Real Estate.

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A gift of real estate can benefit both St. Mark's and you. When you give us appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. You avoid paying capital gains tax. And you can eliminate that property's maintenance costs, property taxes, and insurance.

Another benefit: You can also eliminate the difficulties of selling the real estate.

Ways to Give Real Estate

You can give real estate to St. Mark's in the following ways:

Submit a few details and see the benefits of an outright gift.

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An outright gift. When you make a gift today of real estate you have owned longer than one year, you qualify for a federal income tax charitable deduction equal to the property's full fair market value. By donating the property to us, you also eliminate capital gains tax on its appreciation.

A gift in your will or living trust. A gift of real estate through your will or living trust allows you to potentially make a larger gift than you could during your lifetime. In as little as one sentence or two, you can ensure that your support for St. Mark's continues after your lifetime.

Submit a few details and see the benefits of a bargain sale.

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The terms of a bargain sale offer the ability to sell your property to St. Mark's for less than what it is 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 both give a gift and receive some value from the property.

Submit a few details and see the benefits of a charitable remainder unitrust.

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A charitable remainder unitrust. Sometimes appreciated real estate can fund a trust that can provide an income stream for life or a term of up to 20 years. Your estate planning attorney, who will draft your trust, can give you more details.

A charitable lead trust. This gift can be an effective way for you to benefit St. Mark's and simultaneously transfer appreciated real estate to your family tax-free. You should consider funding the charitable lead trust with real estate that is income-producing and expected to increase in value over the term of the trust.

An Example

Janet purchased a rental property years ago and has watched it grow steadily in value. Still active in her career and traveling frequently, she's beginning to find management of the property more and more of a hassle. At this stage of her life, Janet has decided to move to a 55+ condominium development, where all exterior maintenance is provided and she doesn't have to worry about security issues. Janet sees this as an opportunity to give her rental property to a charity that's important to her while realizing valuable tax benefits.

Janet avoids capital gains tax on the appreciation and qualifies for a federal income tax charitable deduction of $250,000, which is the property's fair market value today. She is able to claim 30 percent of her $200,000 adjusted gross income, or $60,000, in the year of the gift. In the five years following, she can continue to use up the remaining $190,000 deduction. Janet is happy in her new condo and loves knowing that the gift of her property will make a big difference supporting our mission.

Next Steps

  1. Contact Scott Jolly at (214) 346-8132 or jollys@smtexas.org to discuss the possibility of giving real estate to St. Mark's.
  2. Seek the advice of your financial or legal advisor to make sure this gift fits your goals.
  3. If you include St. Mark's in your plans, please use our legal name and federal tax ID.

Legal Name: St. Mark's School of Texas
Address: 10600 Preston Road, Dallas, TX 75230
Federal Tax ID Number: 75-0827460

Not Sure How to Begin Planning?

Download our FREE Personal Estate Planning Kit

A charitable bequest is one or two sentences in your will or living trust that leave to St. Mark's a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to St. Mark's, a nonprofit corporation currently located at 10600 Preston Road, Dallas, TX 75230, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to St. Mark's or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to St. Mark's as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to St. Mark's as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and St. Mark's where you agree to make a gift to St. Mark's and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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