You sell your residence or other property to Jersey City Medical Center Foundation for a price below the appraised market value—a transaction that is part charitable gift and part sale.
Jersey City Medical Center Foundation may use the property, but usually elects to sell it and use the proceeds of the sale for the gift purposes you specified.
Benefits
You receive an immediate income tax deduction for the discount you took from the appraised market value of your property.
You pay no capital gains tax on the donated portion of the property.
You can receive payment from us in a lump sum, or in fixed installments.
