What Is The Charitable Gifting Of Real Estate (CGRE)?

Jul 26, 2022

Do you have an extra piece of property that you don't know what to do with? Have you ever considered donating it to charity? If so, then you may be interested in learning about the charitable gifting of real estate (CGRE). CGRE is a process by which individuals can donate their real estate holdings to charity. This can be a great way to get rid of unwanted property and receive a tax deduction at the same time! In this blog post, The REAL Agents of Change will discuss the basics of CGRE and how it can benefit both donors and charities alike.

Exchange of Wealth

When you donate property to charity, it is considered a "gift." For tax purposes, gifts are divided into two categories: cash and non-cash. Cash gifts are pretty straightforward — they are simply monetary donations given to charity. Non-cash gifts include things like stocks, bonds, and, you guessed it, real estate. Charitable gifting in the form of an exchange of wealth instead of a cash donation can be more beneficial for both the donor and the charity.

Donate From a "Bucket of Wealth"

If you're looking for a different way to donate to charity, then a CGRE is a great option for you. CGRE allows you to donate from a vast "bucket of wealth" instead of having to liquidate assets in order to make a cash donation. This means that you can donate appreciated assets — like real estate — and take a tax deduction for the full market value of the property, without incurring any capital gains taxes.

Donation Multiplier Effect

Another great thing about CGRE is that it can have a "multiplier effect" on your donation. When you donate cash to charity, the charity can only use that money for their general operating expenses. However, when you donate property, the charity can either sell the property or use it to further their mission. This means that your donation can go much further than it would if you had simply given cash.

Give More by Giving Smarter

By donating real estate through a CGRE, you can get rid of unwanted property, receive a tax deduction, and help further the mission of your favorite charity — all at the same time! So if you're looking for a smart way to give back, consider giving through a CGRE. The REAL Agents of Change would be happy to help you with any questions that you may have about this process.

If you're interested in learning more about CGRE or donating property to charity, we encourage you to contact The REAL Agents of Change today. We would be happy to answer any of your questions and help you get started on the process. Giving back has never been easier — or more gratifying! Thanks for reading and we hope to hear from you soon.

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