Cohousing-L Mailing List: Re: Resale Donation Logistics

[Ann Zabaldo (zabaldo]

Hey Morgan!

How good to hear from you!  

Now I dying to know about your resale program at Vashon!  Are you the first to 
make this tribute?

Generous of you to acknowledge your community w/ a gift upon the sale of your 
home.  And you are staying in your community!  Vashon is twice blessed.

At Takoma Village there is no tax implications to the HoA for receiving a 
monetary donation.  We are a non-profit under the District of Columbia’s CONDO 
law not under Federal law which is how many people think of non profits — you 
know like environmental groups, organizations that help the homeless, etc.  
Now, I don’t know if there is a tax deduction that the seller can take for the 
donation.  My guess is this is all going to depend on your state’s rules and 
regulations regarding condominiums or Homeowners Associations.  At Vashon, do 
you have a Legal or Finance team that could handle the question for you?  Or a 
lawyer who advises your community?  Or you can do the tedious work of finding 
the answer in your condo act.  Ah.  There’s one other way.  If your community 
has a membership in the Community Association Institute — CAI — you can ask a 
question to your chapter organization’s lawyer.  (I totally recommend joining 
this organization:  https://www.caionline.org/pages/default.aspx 
<https://www.caionline.org/pages/default.aspx>)

The donations to TVC are handled after settlement.  The donors just write a 
check made out to the HoA.  But there’s no reason the settlement agent can’t do 
it as part of the closing.  Save you writing a check …

Let us know how this all works out for you and your community, Morgan.  I’m so 
happy to hear that other communities are adopting this resale process that 
acknowledges the interests of the seller, the buyer and the community.  The 
community plays a big role in the sale of units at TVC.  Bet it does at Vashon, 
too!

Best --

Ann Zabaldo
Takoma Village Cohousing
Washington, DC
Member, Board of Directors
Mid Atlantic Cohousing
Principal, Cohousing Collaborative, LLC
Falls Church, VA
202.546.4654

I’m …

 “it’s 8:30 pm and you want to start a movie this late?” 

… Years Old.  

(From a series of DIY embroidery quotes by The Twilight Sewn)



> On Aug 5, 2019, at 1:14 PM, Frost, Morgan <frostm [at] seattleu.edu> wrote:
> 
> Hi Cohousers,
> 
> For those who have donated a portion of resale proceeds to the community, any 
> logistic tips? We are moving from one house in our community to a different 
> (bigger) house. We'd like to donate 1% of the sale back to our community 
> (inspired by those on this listserv!). What are the tax implications for my 
> community in receiving a large gift? What are the tax implications for me for 
> donating a large sum to a non-profit this year?
> 
> I assume we can send the funds directly to the cohousing account at closing 
> with the title office and send the rest to other accounts of ours. Is this 
> correct?
> 
> *Ann Zabaldo, can't find your contact info but would LOVE your input!
> 
> Thank you!
> Morgan
> Vashon Cohousing
> Washington State
> 
> 
> 
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