A large number of alumni and friends of Florida State University are interested in contributing to the University's future, but some potential donors may overlook one of their most valuable assets—their property.
Giving property to the Florida State University Real Estate Foundation is another avenue donors to Florida State have for making gifts that may have been difficult to make in the past. Just like gifts of cash or securities, gifts of property may be used to benefit any area of the University that a donor chooses—whether it's for scholarships, faculty programs or capital improvement projects.
Established in 2011, the FSU Real Estate Foundation primarily exists to receive contributions of real estate to hold, manage, lease, mortgage, develop, administer or sell in order to contribute or distribute all or a portion of the net proceeds from such activity to Florida State University, the Florida State University Foundation or such other entity as the board and potential donors may determine appropriate.
The FSU Real Estate Foundation is registered as a separate corporation in the state of Florida and has been granted status as a direct support organization of the University. The IRS has determined that the corporation qualifies as a tax-exempt public charity, and contributions to the Real Estate Foundation are deductible under section 170 of the Internal Revenue Code.
The FSU Real Estate Foundation board comprises seven directors from across the state of Florida: Chair Beth A. Azor from Davie; Vice Chair Brian K. Swain from Winter Haven; Bob Breslau from Davie; Ed Burr from Jacksonville Beach; Leslie A. McKeon from St. Petersburg; Steve Pattison from Plantation; and Tom Jennings, Florida State University Vice President for University Advancement and President of Florida State's Foundation.
With the expertise of this board, Florida State can now more efficiently and professionally facilitate many types of real estate gifts. Whether it comes in the form of gifts to trusts to provide income, outright gifts or creatively thought bargain-sale opportunities, the Real Estate Foundation stands ready to facilitate real estate gifts that will ultimately enhance the mission of Florida State University.
"The Real Estate Foundation has the potential to help grow our University through alumni and friends' gifts of real estate and to assist the University in that growth by utilizing real estate principles at the right time and place," Beth says. "The Real Estate Foundation will counterbalance the negative impact of the current economic climate and assist in accomplishing fundraising goals that Florida State has wanted to achieve for many years."
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.