Attorney Launches Charity Land Exchange

Friday, February 10, 2012

YOUNGSTOWN, Ohio -- Charity Land Exchange Inc., a newly formed nonprofit corporation, has begun accepting applications for real estate donations to charity. A donor can donate the property, receive the full benefit of having the donation be tax deductible and designate a charity to which the proceeds should be directed.

Youngstown attorney Joseph C. Bishara, who spearheaded the formation of the Section 501(c)(3) corporation, said its purpose is to revitalize distressed real estate through facilitating donations for charity and managing or conveying the property with the proceeds being distributed to other charities.

"A church or synagogue, for example, may be ill equipped to accept a donation of a building, perhaps because it does not want to take ownership of a distressed property with all of the liabilities that it may entail," Bishara explained. "Similarly, a landowner may want to donate real estate -- whether it is for the tax benefits or for some other reason -- yet may need the assistance of professionals to do so. Charity Land Exchange is designed to be the intermediary."

The organization will not accept donations of every property, but will evaluate each potential donation on a case-by-case basis, Bishara added.

Bishara is a director of the Youngstown law firm of Roth, Blair, Roberts, Strasfeld & Lodge, and has more than 15 years experience in the area of real estate law. The other principals of Charity Land Exchange are Joseph T. Joseph, a construction contractor, real estate developer and community philanthropist, and Craig Steinhoff, a certified public accountant with Hill Barth & King of Boardman.

Potential donors may call Bishara at 330 744 5211 for additional information and an application.

Published by The Business Journal, Youngstown, Ohio.