Outright Gifts of Tangible, Personal Property
The Urban Homesteading Assistance Board accepts gifts of all types of personal property. If UHAB can, and is expected to, use your gift of property towards the furtherance of its mission and you have owned the property for more than one year, you will be eligible for a fair market value income tax charitable deduction without having to recognize the capital gain on any appreciation. If the property is not of the type the Urban Homesteading Assistance Board can use, and your intention is that UHAB sell the property to use the proceeds, then your income tax charitable deduction is limited to the lesser of your cost basis or fair market value.
Your plan administrator may require the following information: the Homesteading Assistance (U-hab), Inc. is a "public foundation," incorporated in the State of New York on November 30, 1978, and is classified as tax-exempt under Internal Revenue Code 501(c)3. The tax identification number for the Urban Homesteading Assistance Board is 13-2902798.
Before making a donation to the Urban Homesteading Assistance Board, we recommend that you consult your advisor or attorney for full advice on the effect of your gift.
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