Charitable Bargain Sales

CLICK HERE FOR A DETAILED EXPLANATION

How it works

  You sell your residence or other property to GBMC Foundation for a price below the appraised market value, resulting in a transaction that is part charitable gift and part sale.

  The GBMC Foundation may use the property, but it usually elects to sell it and uses the net proceeds of sale for the gift purpose(s) you specified.

Benefits

• You receive an immediate income tax deduction for the appraised market value of the portion of the property you donated.
• You pay no capital gains tax on the donated portion of the property.
• You can receive cash from the sale portion to retire a mortgage or for other purposes.
• You have the satisfaction of making a significant gift to GBMC during your lifetime.

More

• Is this gift for you? Click here.
• Read more detail. Click here.

To learn more about charitable bargain sales, Email us, complete the Information Request Form, or call us at 443-849-3303 so that we can assist you.

GBMC Foundation
6701 North Charles Street
Baltimore,MD 21204
443-849-3303 | Fax: 443-849-3739
E-Mail: JJeppi@GBMC.org