From Lakeside to Aggieland: How One Couple’s Property Turned Into a Tax Deduction and Student Support

As a fish in the Corps of Cadets, Company D-1, David Rubenstein ’77 learned four key responses: “yes, sir,” “no, sir,” “no excuse, sir,” and “I don’t know, sir.” However, when it came to meeting students’ needs on campus, whether through funding various scholarships, supporting Hillel Center and Memorial Student Center building reconstruction projects or making a real estate gift, there was only one right answer: a resounding “yes!”
 

Real Estate With Reason 

Not only have the Rubensteins fervently given of their time and talents to Texas A&M, but they have also generously given of their treasures through a real estate gift.  

The couple created their gift after learning through Texas A&M Foundation publications that writing a check was not the only way to support Aggieland. Reflecting on property they purchased in 1977 and no longer needed, the Rubensteins reached out to the Foundation’s real estate services team.
 

Concerned about the liability of their undeveloped land, the Rubensteins used it to make an outright gift to the Foundation. Pat and David appreciated the immediate charitable income tax deduction, removing property management worries and receiving quick, helpful service from the Foundation’s team. “Everything was done very quickly by email and phone calls, and since we attend all home football games, we even conveniently signed the papers during a home football weekend.” David continued, “It took a matter of a month or two from the first phone call to signing the papers; it was effortless. The real estate team members know what they’re doing and provided answers to all our questions.” 

David shared that his and Pat’s overarching goal is to contribute in some small way to the long-term impact and success of Aggieland, and that their real estate was a beneficial way to do so. “For anyone who has property they no longer want or need and would like to see their asset used to advance Texas A&M, this is a convenient and selfless way to do it,” he said.