Nonprofit organization wanting to buy land in New Jersey
I could really use some advice. I have a nonprofit organization and want to buy land in NJ. Can I use a USDA loan to buy land as a nonprofit? Or if someone donates the land do they get the value back as a tax write off? Or is there another that I could get the land with the nonprofit?
[{"id": "hylx4l2", "text": "USDA loans are for rural improvement. Browse the USDA website for a map or list that tells you whether your project site is in an area designated as \"rural\" for purposes of the specific program.\n\nRe: donation, the grantor should talk to an accountant to figure out what benefits they stand to realize. There are limits to how much can be written-off relative to income.\n\nVariety of strategies for land acquisition. The real questions are whether you have a plan and program for the property, ability to fund acquisition and improvements, and capacity to secure all necessary entitlements.", "replies": [], "depth": 1}]