Charitable foundations
I was researching for an upcoming project and noticed a couple odd things. I know nothing about charitable foundations or how they operate and this may be totally normal. A parcel on a main highway was valued at $100,000 in 1990. In 2016 it was donated to a charitable foundation. In 2019 it was valued at $300,000. In 2020 the value was $200,000. In 2022 it was $100,000. This year it sold for $100,000. Two months later is sold again. This time for $115,000. The security deed filed after the second sale was for the amount of $276,000. There have been no changes to the large vacant lot.
Something just doesn’t seem right about all that. Does anyone know anything about charitable foundations and if that’s some normal procedure?
Thanks
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