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  • 1.  Real Estate - Land

    Posted 08-30-2023 07:34 AM

    Howdy aasp Community!

     

    I'm reaching out to seek guidance on a land gift.  This land is technically from the city – which I know can't be counted – given via their Economic Development Corporation (EDC).  The EDC is considered as a Texas non-profit corp and is governed by a seven-board member appointed by the city.   Of course, this land is appraised at $42M and my leadership wants to include this in the fundraising totals. 

     

    Personally, I don't think this can be counted because how this is tied to the city.  I'd like to weigh in the experts here for guidance. Happy to give more details if necessary.

     

    Thank you,

     

    Michele

     

     

     

    Michele Hicks, MPA

    Executive Director, Advancement Services

    University Advancement

    https://www.unt.edu

     



  • 2.  RE: Real Estate - Land

    Posted 08-30-2023 07:44 AM
    There are two questions that must be answered:
    1. Who owns the land being donated - the city or the nonprofit? I am not sure what you mean by "technically."
    2. If the nonprofit, are they at liberty to donate the land to absolutely any entity they wish, or are they being used as a passthrough?
    If owned by the nonprofit with absolutely no ties legally or otherwise to the city regarding the liquidation of their owned assets, you can probably make an argument for counting the gift.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


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