An article in the Boston Globe explains a recent trend towards donors giving real estate to favorite charities. This is often the greatest asset a family has, and is often overlooked as a way to make a significant gift.

Real estate philanthropy has become increasingly common in recent years. A growing number of nonprofits have become willing to accept non-cash gifts, and donors are catching on to the fact that such philanthropy can provide benefits beyond the satisfaction of a good deed. Older homeowners, in particular, often find it an attractive way to convert a difficult-to-maintain vacation or second home into retirement income, tax deductions, and the ability to support a favorite cause.

Although real estate is the largest single item of net worth for most households, it currently only represents 3 percent of charitable giving, according to Dennis Bidwell, principal at the Northampton-based real estate consultancy firm Bidwell Advisors. "It is still a largely untapped resource, but I see that changing throughout the nonprofit sector," he says. "There's this sense that, my goodness, we're missing out on a tremendous amount of gift potential by not pursuing real estate. Especially during these cash-constrained times, we've got to look beyond cash gifts." Read more