Outright
Simply stated, an outright gift is a gift of any asset (most generally cash) that is given to the institution for immediate use.
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Gift Planning
Bargain Sale: How to Accept
What follows is a best-practice scenario—your organization may well have similiar policies and procedures that differ in certain respects.
Bargain Sale: Tax Issues
Your donor's accountant and/or legal counsel likely is involved in very few bargain sales over the course of their career. Your organization's counsel or gift planning office will need to be involved in this gift early on. Be ready to work closely with all parties involved and, if possible, allow a minimum of six weeks for the transaction to happen.
From a documentation perspective, these are the required elements:
Bargain Sale: How it Works
Coming Soon.
Cash
What else can there be to do besides graciously accept the gift and say thank you?
Estate: How It Works
The core traits of an estate gift can be summed up in terms of benefits to a) the donor and b) your organization.
Real Estate: How To Value
From a tax perspective, the gift value of real property intended to be a charitable gift is based solely on the appraised value.
Real Estate: Tax Issues
Charitable giving of real estate offers donors two big advantages: