Donate Your Home (or a Portion of It)
Donate Your Home — Leave a Legacy of Housing Equity
Give the Gift of a Home, Change a Life Forever
Donating a home is one of the most powerful gifts you can make — one that directly reshapes the future of a family in need. When you choose to give your property to First Key Fund, you’re not just parting with real estate — you’re planting the seeds of stability, dignity, and opportunity for someone who’s been shut out of today’s housing market.
We understand this is a significant decision, and we’re here to walk you through it with care, transparency, and gratitude.
What Happens When You Donate Your Home
Whether it’s your primary residence, a rental property, an inherited home, or a vacation retreat that no longer suits your needs, donating a home means transferring full ownership to First Key Fund. This charitable contribution may qualify for a tax deduction based on the property’s fair market value.
Once received, your property will be thoughtfully integrated into our mission. In some cases, we provide the home directly to a qualified first-time buyer through our affordable homeownership program. Other times, we may renovate the property and sell it at a reduced price to help a family build equity in a way that would otherwise be out of reach. In certain neighborhoods, we retain the home as part of our long-term affordability strategy, helping to keep housing costs stable for generations.
For example, if your home is valued at $400,000 and you donate it in full, you may be eligible for a charitable tax deduction in that amount — which can often be used to reduce your taxable income up to 30% of your adjusted gross income, with any excess eligible to carry forward for up to five years. It’s a win-win: you make a lasting difference while gaining meaningful financial benefit.
Why Donors Choose This Path
Donating a home is more than a generous act — it’s a way to simplify your life, reduce future obligations, and make a bold stand for housing equity. Many of our donors come to us with a home they no longer need or wish to manage, but want to ensure it’s used for good. Others are considering their legacy and want to leave something behind that truly matters.
By giving your home to First Key Fund, you can eliminate property taxes, insurance, and upkeep costs. You’ll also bypass capital gains taxes on highly appreciated properties — and, most importantly, you’ll know that your gift is transforming lives in real, lasting ways.
What to Expect
The process is straightforward, and we handle most of the logistics for you. Once you contact us, we’ll schedule a confidential consultation to understand your goals and answer any questions you may have. From there, we’ll coordinate a professional appraisal and walk you through the steps of transferring the property. You’ll receive a formal donation letter for your records, and from that point forward, your gift becomes part of something far greater than a transaction — it becomes a key to a better future for someone else.
Your Home. Their First Key.
A home once filled with your memories — or perhaps one you’ve outgrown — now has the chance to become someone’s first step toward financial stability, homeownership, and a brighter future. Your generosity has ripple effects: helping close the wealth gap, rebuilding communities, and restoring hope.
This isn’t just a tax deduction. It’s an act of transformation.
Ready to Begin?
We’re here to make it easy, personal, and meaningful.
Reach out today — let’s talk about how your home can unlock new beginnings.
Donate a Portion of Your Home’s Value
Create Impact While Still Receiving Proceeds
You don’t have to give up everything to make a meaningful difference. If you’re planning to sell a property and want to support affordable housing in the process, donating a portion of your home’s value to First Key Fund is a powerful and flexible option.
This kind of gift — often called a “bargain sale to charity” — allows you to sell your home to First Key Fund below market value. You receive immediate cash for the portion we purchase, and the difference between that sale price and the appraised fair market value is treated as a charitable donation.
It’s a creative way to support our mission, reduce your tax burden, and still benefit financially from your property.
How It Works
Here’s how a partial home donation typically unfolds:
Let’s say your home is valued at $400,000. You agree to sell it to First Key Fund for $300,000. The remaining $100,000 — the amount you’re donating — may qualify as a charitable deduction on your taxes. You receive the $300,000 in cash from us, and we take ownership of the home to provide to a qualified first-time buyer or use within one of our affordable housing programs.
In addition to receiving immediate funds and tax benefits, you also save significantly by avoiding traditional realtor commissions. Because we purchase directly from you, there’s no need for a listing agent or broker — saving you up to 6% of the sale price, or $24,000 in this example. That’s more value in your pocket and more impact for the community.
This approach is efficient, flexible, and mutually beneficial.
Why It Matters
Partial donations help us move quickly to secure housing opportunities in competitive markets. With each home we acquire — even at a reduced price — we’re able to bring another affordable option to a family that would otherwise be priced out. At the same time, you unlock charitable tax benefits while maintaining financial flexibility.
It’s a collaborative approach: part sale, part gift — all impact.
Let’s Talk Through the Options
We understand this type of giving may be new to you, and we’re here to walk you through every step. From fair market appraisals and purchase agreements to donation acknowledgments and tax documentation, we’ll handle the process professionally and with respect for your intentions.
Whether you’re managing an estate, transitioning out of a second home, or simply looking for a meaningful way to give back, a partial donation could be the ideal solution.
Reach out today to explore how a portion of your home’s value can support the next generation of homeowners — and still bring value back to you.
Together, we can open the door to something better.
OUR PROMISE TO YOU
No Hassle. Full Support. A Smart Way To Give.
100% Tax Deductible
When you donate your home in full you claim the property’s full appraised value on your tax return. When you sell your home to us and choose to donate a portion of the value, that donated amount is 100% tax-deductible. We’re a registered 501(c)(3) charity.
Easiest Transfer Ever
From title work to closing, our seasoned team takes care of everything making the entire donation process stress-free. We’ll also cover all associated fees.
Turn Property Into Purpose.
Your home—whether donated in full or in part—can help unlock the dream of ownership for a family that’s been priced out of the market.
By gifting real estate, you’ll receive significant tax benefits while transforming lives and communities.
The benefits of donating your house
Donating a house or property comes with a bunch of benefits not only to the charity of your choice, but to you, too. Here are the main ones to consider:
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- Getting a major tax deduction: This one’s the biggie. According to Chris DiLorenzo, a certified public accountant with Nussbaum Yates Berg Klein & Wolpow in New York City, you may be able to use the cost basis of your home (its value when you purchased it originally) as the amount of your charitable deduction. This allows you to take a deduction of up to 60% of your adjusted gross income. If you take your deduction based on the appreciated basis, which is the value of your home right now, your deductions are limited to 30% of your adjusted gross income. It’s a bit complicated, so talk to your trusted financial advisers before moving forward.
- Avoiding capital gains taxes: “You can avoid capital gains taxes on the appreciated value of the house, and the charity can also avoid those taxes,” says Josh Zimmelman, president of Westwood Tax & Consulting in Rockville Centre, NY. “Your donation is worth more than if you sold the home yourself and donated the proceeds after taxes.”
- Minimizing estate taxes: Transferring your property to a charity instead of leaving it to someone in your will removes your property from your estate, saving money on estate taxes, according to Zimmelman.
- Making a difference: Donating a house allows you to make a sizable donation that might not otherwise be possible, and you can do it without the hassle and stress that typically goes with a home sale.
Considerations when donating your property
Donating a house or property is a bit more complex than other types of donations, but it doesn’t need to be daunting. Here are the steps to ensure you have a smooth home donation process:
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- Third party professional appraisal. “You want an appraisal in order to give credence to the value of the property you would be giving,” says James G. Aaron, attorney and partner at Ansell Grimm & Aaron in Ocean, NJ. “You’re going to want to take [the donation] as a tax deduction, and you want it to pass muster with the IRS.” Although you can look up your property value online or through your local municipality, a professional appraisal may give you a higher value and lends your appraisal more weight if your donation comes under scrutiny. We provide this service as part of the process.
- Talk to your advisers. A tax adviser can guide you regarding the potential tax benefits of your deduction. DiLorenzo recommends taking an estimate of the fair market value, a record of your purchase date and the original cost of the property, and the amount you’ve spent on capital improvements to your adviser meeting.
- Pay off your mortgage. If you haven’t already, consider paying off your mortgage. This simplifies the donation process immensely and keeps the receiving organization from having to pay unrelated business income tax if they sell the property. In general, it’s best for all parties involved to donate a home with a clear mortgage, but if this isn’t possible or realistic, talk to your advisers and us to find out the best path for proceeding with the donation.
- Sign over the property and get a receipt. Once everyone is on the same page, proceed with the property transfer. We will coordinate with you regarding utilities and any belongings that need to be removed from the home. We provide full documentation of the entire transaction and process.
How our Process Works
Provide your property’s details
We’ll need some basic information about your property. Submit the details through our quick online form.
We begin the review process
We’ll perform a standard review, including a title search, tax and lien checks. This helps us confirm we can accept your property.
We close on the property
Your property is in good hands with us. We’ll take over to ensure you experience a hassle-free transfer.
You sign the closing documents
We’ll send the paperwork and arrange a notary to come to you—no trip needed.
We coordinate the transfer
We take on all taxes, maintenance, and insurance, and provide you with a tax-deductible receipt.
Request More Information
Thank you for your interest in donating property to the First Key Fund.
We’re truly grateful that you’re considering such a meaningful way to support our mission of restoring access to homeownership.
The information you’re submitting will be used solely to conduct an initial review of the potential property donation and to contact you directly if we have any questions.
We deeply respect your privacy and want to assure you that your details will not be used for any other purpose.