What Are Charitable Special Assets?
Considerable wealth is held in real estate, and related or auxiliary tangible personal property, and other personal and investment property (whether tangible or intangible).
Such assets can be used to either:
- Directly accomplish a charitable purpose, or
- Liquidate such assets and to use the proceeds therefrom for charitable purposes, which give these assets significant charitable potential
However, the complexities, costs and liability issues surrounding gifts of these kinds have typically restricted its use.
As a sophisticated investor, you could own one of any number of types of real estate that might be used to fund your charitable goals, perhaps into future generations.
What We Do
The Charitable Special Assets Fund (CSAF), which gains public charity status by virtue of its affiliation with Rancho Santa Fe Foundation, is managed by a separate board of directors comprised of local leaders in the real estate profession, who may also serve on RSF Foundation’s board of directors.
The CSAF Board oversees the process that converts commercial and residential property, and related or auxiliary tangible personal property, and other personal and investment property (whether tangible or intangible) into charitable dollars.
Each potential gift of real estate is unique and will be evaluated on a case-by-case basis according to the policies and standards set forth herein.
What to Give
- Real estate
- Condos and townhomes
- Vacation homes
- Commercial buildings
- Rural and agricultural land
- LLC’s or LLP’s
- Artwork, collectibles or other tangible property
- Closely held stock
What is the Charitable Special Assets Fund (CSAF) at Rancho Santa Fe Foundation?
Who can donate to the CSAF?
What is the minimum appraised value of a donated property?
What guidelines are in place to govern a donation to the CSAF?
Besides the tax deduction, what are the other benefits of donating real estate?
- A streamlined process
- Reduced transactional costs
- Avoid undue complications and risks
- Helps to maximize the value upon sale
What is the role of RSF Foundation?
How may I use the proceeds from the sale of Gifted Property?
Typically, donors will simultaneously establish a donor advised fund at Rancho Santa Fe Foundation. At such time as proceeds have been realized from the sale, and all carrying costs have been met (see Gift Acceptance Policy for more details), the funds will be transferred from the CSAF to the RSF Foundation and placed in the donor advised fund. Immediately, you will be able to make grant recommendations from your fund. There are no annual “pay-out requirements” for a donor advised fund so this one gift might benefit you and your family members for generations to come.
Donors may also choose to establish a permanent endowment at the Foundation from which annual grants will be made according to a donor’s wishes.
Donors may also donate other special assets to the CSAF and request that the proceeds be transferred immediately to one or more nonprofit organizations. Generally, this is preferable to donors who wish to make one-time only charitable gifts to the organizations of their choice which do not have the ability to accept gifts of real estate on their own. A fee will apply (see Gift Acceptance Policy for more details).
CSAF Board of Directors
Richard Montaño, Board Liaison to CSAF
Gregory R. Hillgren
Don Oliphant, Chairman