SYSTEMS AND METHODS FOR ENABLING CHARITABLE CONTRIBUTIONS FROM PROPERTY
First Claim
1. A method of charitable giving comprising:
- providing a donor with an ownership interest in a property, wherein the property is suitable as collateral for a loan;
generating a loan of an amount of money from a funding source, wherein the loan is secured by the donor'"'"'s ownership interest in the property;
gifting at least a portion of the proceeds from the loan to one or more charitable organizations; and
generating a tax benefit to the donor corresponding to the gifted portion of the loan.
1 Assignment
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Accused Products
Abstract
Systems and methods that provide new methods of charitable giving that increase the flow of contributions from donors to charities. In this way, the present invention helps many charitable causes that are desperately in need of financial support. Most wealth is in real estate, and the new form of charitable giving in accordance with the present invention allows individuals and companies to donate a donor-selected portion of this illiquid asset. A charitable giving liaison organization, in some cases in partnership with an investment bank or any other third-party investor, provides the service to transform this illiquid real estate donation into a liquid donation for the charities and the donors. The charitable giving liaison organization may be a for-profit organization.
59 Citations
19 Claims
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1. A method of charitable giving comprising:
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providing a donor with an ownership interest in a property, wherein the property is suitable as collateral for a loan;
generating a loan of an amount of money from a funding source, wherein the loan is secured by the donor'"'"'s ownership interest in the property;
gifting at least a portion of the proceeds from the loan to one or more charitable organizations; and
generating a tax benefit to the donor corresponding to the gifted portion of the loan. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A business system for charitable giving comprising:
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a funding source;
a donor owning property;
a charitable organization; and
means for generating a loan of funds from the funding source to the charitable organization, wherein the loan is secured by a note from the donor and a security interest in the donor owned property.
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9. A method for providing a charitable donation liaison service comprising:
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contacting a charitable organization;
contacting donors having property assets from which they desire to make charitable gifts;
accepting an application from the donor, the application indicating information about the donor'"'"'s identity, social security number, donor'"'"'s stated income, collateral identity, stated value of the collateral, and amount of the loan;
documenting the donor'"'"'s application; and
causing a funding source to provide an amount of liquid assets to the charitable organization resulting in a corresponding tax benefit for the donor. - View Dependent Claims (10)
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11. A method of operating a lending entity to benefit charitable organizations, the method comprising:
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accepting a loan application from a donor;
determining whether to approve the loan application;
upon approving the loan application, securing the loan using property owned by the donor; and
disbursing funds to a charitable organization, whereby the donor receives an immediate tax benefit as a result of the funds received by the charitable organization. - View Dependent Claims (12, 13, 14, 15, 16, 17)
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18. A method of operating a charitable organization comprising:
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receiving a request from a donor, wherein the request states a desire on the part of the donor to make a gift to the charitable organization based on wealth that is held in property owned by the donor;
causing the donor to obtain a loan for specified funds from a funding source that is secured by the property owned by the donor; and
receiving the specified funds from the funding source. - View Dependent Claims (19)
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Specification