As Advisors in Philanthropy, we want to provide a full spectrum of giving options to our clients. Many of our high net worth clients have real estate assets that may be appropriate for philanthropic solutions. This presentation will offer the challenges and opportunities that real property create for clients and their beloved charity(ies). We will explore in detail the process to nurture gifts of real estate; to manage the due diligence in assessing a gift of real property; to coordinate allied professionals in support of a real estate gift; and to manage expectations of both your client and their charity. All planned gifts represent emotional moments for your client. Gifts of real estate may be even more emotional for your client given the personal involvement that ownership of real estate requires. We will review the issues that a charity may have with acceptance of various types of real estate gifts. We will focus on the tax treatment of real estate gifts and how to properly document the deductibility of such gifts. We will discuss the challenges of marketing real estate and how the value may be different between your client and a charity. This presentation will be highly interactive and open dialogue between the presenter and the audience. By the end of the presentation, the attendee will have a greater comprehension of how the process of gifting real estate can be managed to minimize the risks and maximize the value to your client and their charity. The advisor will have a greater comfort level in counseling his/her client with respect to philanthropy with real property.
The philanthropic advisor will:
- Understand the spectrum of issues involved in promoting very complex real estate gifts with his/her clients.
- Be prepared to proactively offer solutions to particular issues and outcomes with real estate gifts his/her clients wish the complete.
- Receive specific details about protecting his/her clients best interests when gifting real property to charity.
Allen Thomas, JD, CFRE, CAP®, President, Thomas Charitable Adviors, LLC, Bryn Mawr, PA
Allen Thomas JD, CFRE, CAP, Chief Philanthropic Advisor, has served for the past 32 years as a senior executive in the not-for-profit community, first with the Devereux Foundation and then with The American College. He most recently served as Vice President of Advancement at The American College in Bryn Mawr, PA.
Allen is a nationally recognized consultant and speaker on philanthropic best practices. He has a specialty in gifts of real property and frequently lectures on this underutilized opportunity of giving. Allen previously presented to National Conference on Philanthropic Planning (AKA NCPG) in 2003, 2005, 2007, 2011 and 2013. Allen is President of Thomas Charitable Advisors, LLC, consulting with numerous charitable organizations, providing real estate expertise at both the gift policy level and on a property transactional basis. www.ThomasPG.com
Allen joined The Devereux Foundation in 1985 as Vice President of Real Estate and President of Devereux Properties, Inc. He was elected Vice President of Planned Giving and Real Estate in 2002. He served in that position until 2009. Prior to joining Devereux, he worked in the real estate finance groups of Massachusetts Mutual Life Insurance Company and Aetna Life and Casualty Company.
Allen has served on the Board of Directors of the Philadelphia Gift Planning Council and is a past President of the Council. He is a member of the Leadership Institute at the National Association of Charitable Gift Planners. Allen is also a member of the International Association of Advisors in Philanthropy.
Allen Thomas received a Bachelor of Science in Economics from American International College in Springfield, MA and his Juris Doctor from Western New England University, School of Law, also in Springfield, MA. He earned his Chartered Advisor in Philanthropy (CAP) designation from The American College.