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Barter Firm Offers Program to Donate Excess Real Estate to Charity

STAMFORD, CT-ICON International, a corporate finance barter company, has launched a program that it says allows corporations to give their excess corporate real estate to charity without harming their bottom lines.

By John Jordan | Updated on December 22, 2000

STAMFORD, CT-Just in time to benefit a corporation’s year-end bottom line, ICON International, a corporate finance barter company based here, has launched a program whereby corporations can rid themselves of excess commercial real estate, while helping a charitable organization.

ICON officials report that the firm has instituted a program in partnership with Save the Children, a non-profit international organization that helps disadvantaged children and families in more than 40 countries. Under the terms of the partnership, ICON will use its asset management expertise to turn companies’ commercial real-estate donations into tangible dollars for Save the Children programs.

If a company chooses to participate in the program, its real estate will be contributed to a special-purpose LLC formed between the donating company and ICON. The company then donates its ownership interest in the special-purpose LLC rather than the real estate itself to Save the Children. Save the Children receives a security rather than the actual real estate.

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