How it works
- You sell your residence or other property to MICA for a price substantially below the appraised market value, resulting in a transaction that is part charitable gift and part sale.
- MICA usually elects to sell the property and uses the net proceeds of the sale for the purposes you specify.
- 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 MICA during your lifetime.
Need more assistance?
Some gift arrangements have minimum age and contribution guidelines to help us be wise stewards. Contact the Development Office for more information about your particular situation. We look forward to helping you.
Office Telephone: 410-225-2262