Daniel Snyder donates mansion to American Cancer Society

Eight months after he sold the Washington Commanders, Daniel Snyder donated his mansion overlooking the Potomac River in Maryland to the American Cancer Society, reaping what could be a significant tax deduction on a property that had been on the market for more than a year.

Snyder purchased part of the property from the estate of King Hussein and Queen Noor of Jordan in 2001 for $8.64 million. He went on to acquire additional parcels, amassing 15 total acres, according to property records. The 30,000-square-foot estate, which he named River House, was completed in 2004.

The home, which served as Snyder’s primary residence for close to two decades, went on the market in February 2023 with an asking price of $49 million. Snyder reduced the price to $34.9 million after it sat on the market for six months.

The listing was removed Monday, according to Zillow.

Property records show that ACS Development Company I Inc., which owns and operates real estate for the American Cancer Society, purchased the home for $0 on March 7. A spokesperson for the American Cancer Society said the organization intends to sell the property and use the proceeds “to advance our mission of improving the lives of cancer patients and their families.”

Snyder’s wife, Tanya, the former co-CEO of the Commanders, was diagnosed with breast cancer in 2008 and, after undergoing surgical treatment, was a noted advocate for cancer awareness. She helped launch the NFL’s “Think Pink” campaign, and ACS recognized her as its “Mother of the Year” in 2013.

“We are incredibly grateful for the gift, and the generosity cannot be overstated,” Karen Knudsen, CEO of the American Cancer Society, wrote in a release by the organization.

The donation has significant tax benefits for Snyder. He had reportedly been trying to sell River House since 2018, and absent a buyer, donating the property was a more practical solution than sitting on it and paying taxes; the property’s assessed tax value for 2022 was close to $18 million.

By donating the real estate to a charity, Snyder can claim a deduction to his income tax that is equal to the appraised value of the property. So, for instance, if the property were appraised at $45 million, he would receive a tax deduction of $45 million. And he would not pay taxes on the gain, which he would have had he sold the property to a private buyer.

Snyder could not be reached for comment.

In a 2022 filing in the United Kingdom, Snyder listed England as his usual residence.

Snyder also owns a 16.5-acre property near Mount Vernon that he purchased for $48 million in November 2021 as well as property in Aspen, Colo.

English

Daniel Snyder donates mansion to American Cancer Society