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Gifts of Land
There are many, popular ways for donors to use real estate
to support the mission of the New England Forestry Foundation.
Donations
of Real Estate Many families own forestland that has been managed as a
working forest for one or more generations and the current owners want the
forestland to continue as working forestland. A gift of these lands to
NEFF with a restriction providing that NEFF must continue to manage these
forestlands as working forestlands assures that these lands will be owned and
managed by NEFF in perpetuity.
Donations
of Real Estate (“Trade Lands”) Many families’ own lands or
commercial properties that are suitable for development or are a residence or
vacation home. Such property may be a financial burden because of
escalating property taxes or the need for ongoing up keep. The Foundation
encourages donors to consider a gift of such assets as trade lands to the New
England Forestry Foundation. The New England Forestry Foundation will sell
these properties and the proceeds used for forestland protection. Such
gifts are tax deductible with the deduction equal to the value of the property
based on an appraisal.
Bargain Sales For most
individuals, the price at which they purchased or the value at which they
inherited real estate is much lower than the property’s current value.
If this property is sold, a substantial capital gains tax will be paid for that
portion of the sale price that exceeds the original purchase price or inherited
value. The result is a much lower net gain. A “bargain sale” to
New England Forestry Foundation may be useful in many of these situations.
A bargain sale is a sale at a price less than appraised value and when the sale
is to a charitable corporation like New England Forestry Foundation, allows the
excess of the appraised value over the sale price to become a charitable
contribution.
The Pension
Protection Act of 2006 could help you maximize your tax deductions while
supporting NEFF and its mission.
To discuss your real estate gift or sale to NEFF, please
contact NEFF’s Director of Land Protection:
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Whit Beals
P.O. Box 1346
Littleton, MA 01460
Tel. (978) 952-6856
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wbeals@newenglandforestry.org
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Board of Directors
