Gifts of Real Estate
Almost any type of real estate can be given to the Shakespeare Theatre Company; because every piece of real estate is unique, and to be certain that your goals align with the Theatre’s for such property, please contact the Theatre in advance of making your gift. Real estate can be contributed in several ways:
- Outright gift: The entire property is given to the Shakespeare Theatre Company.
- Gift Subject to Life Income: The property is conveyed to a life income trust for the ultimate benefit of the Shakespeare Theatre Company. The income of the trust is paid for life to the donor and/or to another beneficiary named by the donor. As with an outright gift, you can alleviate capital gains tax liability on the appreciation in a life income gift of appreciated real estate.
- Bargain Sale: A charitable gift of mortgaged real estate under which the donor is considered to have sold the property to the Shakespeare Theatre Company for the amount of the outstanding mortgage. Your deductible gift is the difference between the mortgage and the market value of the property. There will be a partial capital gains tax on your appreciation in the property attributable to the amount of the mortgage, but not on the gift portion of the transaction.
- Giving real estate by Bequest
Click here to request more information or call Amy Gardner, Associate Director of Development at 202.608.6332.
Federal Tax Information
Your lawyer may ask you for some essential tax information about the Shakespeare Theatre Company. The Theatre's full legal name is “The Shakespeare Theatre,” and we are incorporated under the laws of the District of Columbia. The Theatre is a public charity exempt from income, gift and estate taxes under section 501(c)(3) of the Internal Revenue Code. Its federal tax identification number is 52-1405988.