Good Deed Reward
Regardless if your real estate is unwanted or hard to sell it does not lessen the good your donation can do in helping support our efforts.
By donating to a tax-exempt 501(c)(3) organization, you should be able to receive a tax-deduction for the appraised value¹.
Keep from wasting more money on upkeep, utilities, insurance, and property taxes for an unwanted or hard to sell real estate.
Our real estate professionals will attend to the details and guide you through the process¹, which typically is within 14 days.
Phone888.718.0989 ext. 1
Even though the United Relief Foundation does its due diligence, we advise that you speak with your own expert who is knowledgeable in the legal aspects and tax benefits of donating real estate. Richard A. Valentino, Attorney – United Relief Foundation.
What types of real estate would United Relief Foundation consider?
Single and Multi-Family Residential as well as Commercial, Retail and Vacant Property located within the city limits of Chicago or its neighboring suburbs.
Will United Relief Foundation consider real estate that is in need of repairs or I can’t sell?
Yes. Even if your property is in less than ideal condition or you’re having difficulty selling, it still may be determined to have some value.
Do I need to be present at closing?
No. You, or your attorney, will be mailed all the necessary documents for your signature. In addition, after the deed is transferred to the United Relief Foundation, we will mail you the appropriate IRS form and a receipt of your donation as well as a thank you letter on behalf of United Relief Foundation and the Veterans we serve.
Will I be charged any fees and do I need an appraisal?
You will not have to pay for closing and recording fees. However, in order to receive your tax deduction, you’ll need a current appraisal on the property. According to IRS regulations, United Relief Foundation cannot pay for the appraisal or recommend any appraisers.
How long does the process take?
If all papers are in order, the title is clear and there are no outstanding issues, the process typically takes between 7 to 14 days.
1. United Relief Foundation (URF) is an Illinois chartered non-profit
2. URF is a tax=exempt 501 (c)(3) organization – EIN #20-4374530
3. URF uses third-party real estate, legal and tax professionals
4. You will be required (IRS regulation) to have an independent real estate appraisal performed at your expense
5. Your real estate will be subject to URF’S acceptance criteria and condition evaluation process
6. Your real estate will be assessed for its potential to be sold to support URF operations and activities
7. Your real estate donation may not be accepted. Since the cost of owning, renovating and maintaining real estate requires substantial monetary and human resources that would better serve Veterans in need, United Relief Foundation’s third-party professionals thoroughly review and carefully assess every offer to donate real estate for sale potential
8. Should your real estate be accepted, you shall receive a standard “donation” agreement to start the transfer process
By utilizing third party real estate and legal professionals, we have made the real estate donation process as simple as possible:
1) Upon receipt of your real estate donation inquiry, you will receive a confirmation that your inquiry has been received and our process steps
2) You will receive a call from a United Relief Foundation real estate expert to gather information and answer questions you may have.
3) The Foundation’s real estate expert will inspect your property, which includes a title, tax and lien search and provide a report to the Foundation.
4) Should the Foundation determine your property has value (real estate is sold to support efforts) our real estate expert will guide you through the transfer steps.
4a) Even though the United Relief Foundation does its due diligence, please be advised to seek advice from legal and tax experts.
5) If everything is in order on your end, the real estate transfer process goes relatively smoothly and at no cost to you.
6) You will receive a confirmation from the United Relief Foundation that your real estate donation has been accepted and completed.
The Internal Revenue Service has strict rules governing donations of non-cash property to tax-exempt nonprofit organizations. For gifts of property valued at over $250, the organization must provide the donor with a written acknowledgment of the donation that includes information required by the IRS. The organization is required only to acknowledge receipt of the property; it should not use the acknowledgment to establish the property’s value. It is the donor’s responsibility to establish the fair market value — or FMV — of the donated property based on IRS rules and to indicate the value when the deduction is listed on the donor’s tax return. If the organization or the donor fails to follow the rules, the donor can lose the right to deduct the donation, and both parties can face IRS fines and penalties.
United Relief Foundation advise that you speak with a tax professional and visit the IRS website [click here] for additional information.