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 The opportunity: More wealth is held in real estate than in stocks and bonds combined – a total that includes 44 percent of all capital value in the U.S. and an estimated 50 percent of all individual wealth. This untapped potential for charitable giving is tremendous, both for charitable people and the causes they care about.
The challenge: Cost, complexity and liability involved with giving real estate restrict its use in philanthropy.
The solution: Top real estate professionals simplify the process of accepting, marketing and selling your real estate asset through the , a public charity affiliated with The Community Foundation of Greater Birmingham. These experts offer their volunteer services to streamline the process and make it less expensive, avoiding and risks and maximizing the value upon sale.
Recent gifts: In 2006, the Charitable Real Estate Foundation received a 65-unit apartment complex in Montevallo (value: $1.5 million) and facilitated a bargain sale of commercial property in Irondale. In the bargain sale, the increased value of the property went to charity, allowing the donor to reinvest the principal for future growth and, one day, another gift.
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