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Charitable Bargain Sales
How it works
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You sell your residence or other property to Wayne Presbyterian Church for a price substantially below the appraised market value, resulting in a transaction that is part charitable gift and part sale.
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Wayne Presbyterian Church usually elects to sell the property and uses the net proceeds of sale for the purpose or purposes you specify.
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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 can have the satisfaction of making a significant gift to Wayne Presbyterian Church during your lifetime.
More
Your interest in planned giving to Wayne Presbyterian Church is greatly appreciated. If you would like to learn more about charitable bargain sales, please contact Rev. Steven Harberts, Associate Pastor at stharberts@waynepres.org or (610) 688-8700; or the Chair of the Planned Giving Committeee, M. Parker Blatchford at mpblatchford@aol.com or (610) 688-9030; or complete the Information Request Form.
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