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
TOTAL GIFT CYCLE 3.50 Months
net gift
DONATION
APPRAISAL 100% 700,0000
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%