Property Donations | Newport News Green Foundation

Can it work for you?

A gift of real estate may be for you if:
– You hold residential, commercial or undeveloped real estate that has risen in value and that you no longer wish to maintain.
– You are concerned about rising real estate taxes and the capital gains cost of selling the property.
– The property is useful to our mission and would benefit the residents City of Newport News as a green space.

How you may benefit

How it works

– Your first step should be to contact us to discuss the property and its eligibility for donation.
– After our initial discussion, properties eligible for donation will go through several committees for approval and a final board vote.
– Donors will be responsible for drafting a deed of gift to the Foundation and, if claiming for a tax deduction, for a Fair Market A of the property Appraisal which is required by the IRS.
– Once the donation is complete, the Foundation will send all necessary recognition of the contribution to the donor.

Some considerations

When considering a donation of property, the Newport News Green Foundation weighs it against the following guidelines:
– In most cases, we would like the property and title to be completely free of all encumbrances (mortgages, leases, etc.). However, we can and do consider bargain sales of properties and can help relieve a donor of outstanding debts on the property. Each circumstance is considered on a case by case basis.
– Typically, we do not sell or accept conservation easements but will consider deed restrictions on a case by case basis.
– Properties with environmental hazard concerns are not ideal, but also will be considered on a case by case basis.
– Properties on a major thoroughfare, those that are wholly situated in the City of Newport News, Virginia, and/or those with significant preservation value are prioritized.