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Charitable Bargain Sales

CLICK HERE FOR A DETAILED EXPLANATION


How it works

You sell your residence or other property to The Latin School of Chicago for a price below the appraised market value, resulting in a transaction that is part charitable gift and part sale.

The Latin School may use the property, but it usually elects to sell it and uses the net proceeds of sale for the gift purpose(s) you specified.

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 have the satisfaction of making a significant gift to The Latin School during your lifetime.

More

To learn more about charitable bargain sales, E-mail us, complete the Information Request Form, or call us at (312) 582-6042 so that we can assist you.

Meet Donors

Dr. Richard Davis
“Latin's superb faculty always encouraged me to give my best effort,” recalls Dr. Richard Davis '43.


Good News! You can now make a tax-free gift from your IRA! Click here.