Summary of Requirements:
Donations of Real Property to Be Sold for the Benefit of YMCA Camp Tecumseh
Purpose:
To simplify and clarify for donors the requirements of YMCA Camp Tecumseh's policy regarding Acquisition & Disposition of Real Property Gifts.
Policy:
- Gifts of real property must be approved by YMCA Camp Tecumseh's Investment Committee and settlement documents must be signed by the board treasurer.
- Generally, YMCA Camp Tecumseh's practice is to liquidate gifts of real property as rapidly as possible, provided this remains consistent with market conditions and professional prudence.
- Property must not have an encumbrance greater than 10% of fair market value or $100,000, whichever is greater.
- Documentation required to be submitted to YMCA Camp Tecumseh at least 14 days prior to desired closing date:
- Contract and/or document proposing terms and conditions of property transfer.
- Written appraisal from a qualified appraiser determining fair market value.
- Certified building inspection identifying condition of building structure, roof, electrical, plumbing, fireplace, furnace/flue, sewer/septic system, heating/air-conditioning system, termite/rodent damage, etc.
- Certification from local building department affirming compliance with all building and safety codes (fire escapes, extinguishers, kitchen hoods, firewalls, furnace rooms, stairways, etc.).
- Environmental "Phase I" report from a qualified environmental assessor.
Special Notes:
- If value of donation is reasonably believed to be in excess of $5,000, IRS 8283 form (Non-cash Charitable Contributions) must be completed by donor and then signed by YMCA Camp Tecumseh's Executive Director. Donors should consult tax counsel in this regard.
- YMCA Camp Tecumseh is precluded by IRS regulations and by the Evangelical Council for Financial Accountability from valuating non-cash contributions.
To receive additional information,
complete the confidential online
Gift Planning Information Request Form.
For all questions on how to set up credit card gifts, electronic fund transfers, a lost receipt or any other general giving questions, call Dave Wright at 765-564-2898
For more information on setting up a planned gift to benefit YMCA Camp Tecumseh, please contact:
Dave Wright
Executive Director
YMCA Camp Tecumseh
12635 W. Tecumseh Bend Rd
Brookston, IN 47923
Phone:765-564-2898
Fax: 765-564-3210
E-mail: giving@camptecumseh.org
*The information contained herein is for explanatory purposes only and is not intended to be used as tax advice. YMCA Camp Tecumseh recommends that you contact a professional tax advisor who can provide you with additional information on how your participation in the above program may affect your personal tax situation.
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