In addition to making a positive difference for charity, donating real estate can eliminate maintenance costs and avoid depreciation recapture
(PRUnderground) February 28th, 2025
Driving Successful Lives (DSL) is transforming neglected industrial properties into opportunities for community growth and social good. Following the recent donation of a defunct truck terminal in Saginaw, Michigan, the charity has demonstrated its unique approach to solving urban challenges while supporting people in need.
The truck terminal had sat unused for 30 years, accruing expenses for its owners, including property taxes, maintenance, and insurance. Facing difficulties selling the property due to the cost of capital gains and recapture of depreciation, the owners found a smart solution by donating it to DSL.
“By donating the terminal, the owners avoided significant financial burdens and received a valuable charitable deduction,” explained DSL Director Mark Maupin. “More importantly, this donation allowed us to generate funds that directly support individuals and families in need.”
Proceeds from the terminal’s sale helped DSL continue its mission to assist veterans, provide reliable transportation to job seekers, and offer aid to families facing economic hardship. Testimonials from those touched by DSL’s work speak volumes about its transformative impact.
This success story underscores the mutual benefits of donating vacant industrial sites. For cities, blighted properties are returned to productive use, fostering economic growth. For businesses, the donation avoids costly expenses and unlocks tax advantages.
“We’re eager to help other cities and companies facing similar issues,” Maupin said. “It’s a win-win for everyone involved.”
To explore the benefits of donating unused properties, visit www.drivingsuccessfullives.org/real-estate.
About Driving Successful Lives
Driving Successful Lives’ mission is to help raise funds and improve the lives of veterans, homeless families, children, those with addictions while helping donors generate a tax deduction, often with property or vehicles they might no longer want.
Every time a person gives to the charity of their choice it may also create a tax benefit for them. Car donations, real estate donations or money donated to non-profit institutions throughout the tax year may be tax deductible which means that they could make a positive difference for people while reducing the amount of income taxes they pay. Contributing to charities can be a very convenient way to reduce taxes and help others.
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Original Press Release.
