Oklahoma Baptist Homes for Children

 

Giving Real Estate

A vacant lot. A vacation home. A few acres of raw land. Many friends of OBHC have real estate like this. They have property and they don’t quite know what to do with it.

One possibility is to donate all or a portion of the property to OBHC, either as an outright gift or in exchange for a lifetime of income.

Consider Mr. and Mrs. Bond. They had five acres of raw land that appraised for $100,000. They purchased it years ago for $5000, thinking they might build a house on it someday. That plan never materialized, but they continued to hold the land.

They thought of selling it more than once, but the idea of paying capital gains tax on the sale slowed them down. Also, they were overwhelmed just thinking about all the time and trouble it would take to market and sell the property. And so they just let it sit there.

Then they learned that OBHC was willing to receive the land and to sell it, using the proceeds to create an endowment fund through The Baptist Foundation of Oklahoma in their name. They were also pleased to discover that they would receive an income tax charitable deduction for the gift.

Another couple, the Jones, gave a vacation home to OBHC in trust, and made arrangements to receive income from the trust for the rest of their lives. Like the Bond’s, they avoided capital gains tax and obtained an immediate income tax charitable deduction.

Vice President for Planned Giving, Neal Wooldridge, is available to assist you in thinking through the opportunities and issues related to real estate gifts. He will be happy to come to your home or talk with you on the phone. Neal is a knowledgeable gift planner, and you will like him because he listens well and keeps confidential.

To arrange a meeting with Neal and/or to request assistance with planned giving, use our handy response form. You can also reach Neal by phone at (405) 570-9836 or email Neal Wooldridge.


Go to top of page

Your gifts help provide hope to children and families.

DONATE NOW