The Office of University Development is committed to the continued advancement of Benedictine University. We challenge our alumni and donors to support the University in order to transform our future and ensure the growth and development of the institution and our students.
A charitable bargain sale takes place when you sell real estate or other property to Benedictine University at a price substantially below appraised market value. Benedictine pays you the agreed upon price which allows you to retire your mortgage or use the cash for other purposes. The University will usually sell the property and use the net proceeds for its general purposes, or, if you prefer, a designated purpose.
Benefits of a Charitable Bargain Sale
- Avoid capital gains taxes on the donated portion of the property
- Receive a tax deduction for the appraised value of the donated portion of property
- Receive cash from the non-donated portion of the property