Net Gift Estimate
Net Gift Estimate
Timeline
TIMELINE | DATE | DAYS |
---|---|---|
DONATION AGREEMENT DATE | 01/01/2020 | 0 |
DUE DILIGENCE | 01/31/2020 | 31 |
DONATION DATE | 02/15/2020 | 15 |
SALE DATE | 04/16/2020 | 61 |
OWNERSHIP TERM | 2.00 Months |
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TOTAL GIFT CYCLE | 3.50 Months |
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net gift
DONATION | |||
---|---|---|---|
APPRAISAL | 100% | 700,000 | |
DONATION | 75% | 525,000 | Not Taxable + Tax Deduction |
CASH PAYMENT (Debt Payoff/Other Uses) | 25% | 175,000 | Taxable (on prorated basis) |
DUE DILIGENCE | 500 | ||
COMMISSIONS, CLOSING COSTS & PRORATIONS | 2,000 | ||
HOLDING COSTS | 1,500 | ||
REPAIRS | 1,000 | ||
OTHER COSTS | - | ||
DONATION COSTS | 180,000 | ||
|
|
|
|
SALE | 100% | 700,000 | |
RETURN OF DONATION COSTS | 180,000 | ||
COMMISSIONS, CLOSING COSTS & PRORATIONS | 48,000 | ||
COST OF FUNDS | 2,000 | ||
NET PROCEEDS | 470,000 | Funds to Nonprofits | |
|
|
|
|
REALTY GIFT FUND | 35,000 | 7.4% | |
GRANTS TO OTHER NONPROFITS | 435,000 | 92.6% | |
NET GIFT | 470,000 | 100% |