A bargain sale is a gift of property to the Foundation for an amount less than the property’s current fair market value as determined by a recent, qualified appraisal. The excess of the value over the sales price generally represents a contribution to the Foundation.
The Foundation, upon review and recommendation of the MSF Endowment Advisory Committee, may accept or purchase real estate or other property on a bargain sale basis. Ordinarily the purchase price for the property would not exceed 60% of its appraised value. The bargain sale price may be paid either in a lump sum or in installments. Agreements to these types of assets are subject to restrictions.