Gift PlanningGifts of Mineral Interests
A gift of mineral interests (oil, gas, gold, silver or other precious metals) is an excellent way to make a gift to Washington County Community Foundation.
Benefits of gifts of mineral interests
- Receive a charitable income tax deduction
- Avoid income tax on royalties
- Create a lasting impact in our community
Gifts of mineral interests video
How gifts of mineral interests work
- Gift of Land with Mineral Rights—If you own land with mineral rights, you can donate all or part of it and receive a charitable income tax deduction in the year you make your gift. It's a meaningful way to support the causes you care about while also receiving tax benefits.
- Gift of Royalties—If income from oil or mineral rights is pushing you into a higher tax bracket, consider donating a portion (or all) of your royalties. This can help reduce your taxable income and allow you to meet your charitable goals at the same time.
- Charitable Life Estate—Want to continue using your home or farm during your lifetime and make a future gift? A charitable life estate allows you to do both. You'll receive an income tax deduction now, and your property will benefit the community after your lifetime.
- Charitable Remainder Trust—To retain income and still make a lasting gift, you can place your land into a charitable remainder unitrust. The trust will pay you (or someone you choose) income for life or up to 20 years. You'll also receive a charitable tax deduction, and when the trust ends, the remaining value will support the causes you care about most.
More on gifts of mineral interests
Gifts of mineral interests are valuable property rights. You can use your mineral rights to fund a variety of different planned gifts.
Contact us
If you have any questions about gifts of mineral interests, please contact us. We would be happy to assist you and answer any questions that you have.
