You sell your residence or other property to Soroptimist for a price substantially below the appraised market value, resulting in a transaction that is part charitable gift and part sale.
The Soroptimist usually elects to sell the property and use the net proceeds for the purpose or purposes you specify.
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 Soroptimist during your lifetime.
