Helen Klocko makes real estate gift
Helen found that it was much easier to give her property directly to the Foundation and have the Foundation deal with realtors and all the hassles of selling. She received an income tax deduction for the full fair market value of the property and owed no capital gains tax on the property’s appreciation. The Foundation then sold the real estate and endowed the net proceeds in the Thursday Club Scholarship. “It just made sense. But my true reward is the knowledge that my real estate donation is helping students who really need assistance. That means so much to me,” says Helen.
An asset you’ve had for generations can be a gift for generations of needy students to come. Gifts of real estate can frequently save you thousands of dollars in income and capital gains taxes, while providing a substantial benefit to the University of Maine Foundation. We accept many types of real estate from residential and commercial properties to undeveloped land.