Charitable Bargain Sale

 

Click to play video which describes a gift of charitable bargain sale

How It Works

  • You sell your residence or other property to Cooperman Barnabas Medical Center (formerly Saint Barnabas Medical Center) for a price below the appraised market value—a transaction that is part charitable gift and part sale.
  • Cooperman Barnabas Medical Center may use the property, but usually elects to sell it and use the proceeds of the sale for the gift purposes you specified.

Benefits

  • You receive an immediate income tax deduction for the discount you took from the appraised market value of your property.
  • You pay no capital gains tax on the donated portion of the property.
  • You can receive payment from us in a lump sum, or in fixed installments.