Michael Rorman

City of Hope's Charitable Remainder Trust (CRT) program enables apartment owners to bypass capital gains tax when selling appreciated property. Additional benefits include creating a new source of lifetime income for yourself and potentially others, a charitable income tax deduction and is a viable option to a 1031 exchange for those who would like to downsize or retire from the property ownership and management business.
In accordance with the IRS Code, a Charitable Remainder Trust (CRT) is a separate legal and charitable entity. When transferring property into a CRT first, the trust can sell the donated property and bypass capital gains tax at the time of the sale.
After the donor's lifetime, City of Hope will have access to the remaining funds for use towards research and treatment, making a difference in the lives of people with cancer, diabetes and other life-threatening illnesses.
City of Hope’s main campus is located in Los Angeles with other locations in Atlanta, Orange County, CA, Chicago and Phoenix. We are a world leader in cancer research, treatment and prevention. Physicians here partner with scientists to transform laboratory breakthroughs into treatments that outsmart cancer, as well as diabetes and other life-threatening diseases. Among many accomplishments, we are a pioneer in bone marrow transplantation and developed synthetic insulin which is used by patients with diabetes around the world.