DONATIONS OF LAND OR REAL ESTATE:
The Center for the Environment at Catawba College accepts gifts of undeveloped land and developed real estate, as well as remainder interests in personal residences, vacation homes, or farms. Acceptance of gifts of this type may require the approval of the Catawba College Board of Trustees. Also, in some cases, an initial environmental review may be required to ensure that the property is not contaminated.
Gifts of Land:
As a donor of land, you would generally receive an income tax deduction for the full fair market value of the property. Depending upon the condition and location of donated land and your wishes, the Center may explore placing the land under conservation easement, or may sell the property and utilize the proceeds to fund its environmental initiatives.
Gifts of Real Estate:
The Center accepts gifts of approved residential and commercial properties. As a donor of real estate, you would generally receive an income tax deduction for the full fair market value of the property. Depending upon the condition and location of the property, the Center may sell it, with the proceeds going to its various environmental initiatives.
You may even donate your residence, vacation, or farm to the Center, while you retain full lifetime use of the property. You would receive an immediate income tax deduction for a portion of the fair market value of your property. You will also maintain responsibility for insuring, maintaining, and paying property taxes.
The Center will accept a remainder interest in a personal residence, farm, or vacation home, subject to property review and approval by the Catawba College Board of Trustees.You, as the donor, or other occupants, may continue to occupy the property for the duration of the stated life.Upon death of the donor, the Center may use the property or sell it and utilize the proceeds for its environmental initiatives.