Do you mean that you want to donate the entire facility, turning it over to the college, or do you mean that you want to donate the USE of the facility? You can claim a deduction for a donation of real estate if you are the owner of the facility and you give full ownership of the facility to the college, but you cannot claim a deduction for donating the use of the facility if you retain ownership of it. If you are not the owner of the facility, i.e. you are renting it from someone else, there is nothing you could claim a deduction for.
