Gifts 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 Luther College.
Benefits of gifts of mineral interests
- Receive a charitable income tax deduction
- Avoid income tax on royalties
- Receive lifetime payments
Gifts of mineral interests video
How gifts of mineral interests work
- Gift of all or an undivided portion of your land—If you own land with mineral rights, a gift of all or an undivided part of your land can produce a direct tax benefit to you and support the mission of Luther College. You will receive a charitable income tax deduction in the year you make your gift.
- Gift of royalties—If the income from your oil or mineral rights is pushing you into the upper tax brackets with higher rates and fewer deductions, consider a gift of your royalties. By giving Luther a portion or all of your royalties, you can lower your income and taxes while achieving your charitable goals.
- Charitable life estate—If you want to make a gift to the college while continuing to use your home or farm during your life, consider a charitable life estate. You will receive an income tax deduction for your gift. We encourage you to contact us to discuss the rights and responsibilities associated with this arrangement.
- Charitable remainder trust—To generate income while maximizing your charitable impact, consider placing your land in a charitable remainder unitrust. You will receive payments for your lifetime or for a term of up to 20 years, along with a charitable income tax deduction. At the end of the trust term, the remaining value will support Luther's mission.
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.
