Salvation Army Gets $16-Million for Donor’s Estate
June 15, 2007
The Salvation Army has sold the Rancho Santa Fe, Calif., home of the late McDonald’s heiress, Joan Kroc, for about $16-million, a steep drop from the original 2005 asking price of $28-million, reports The Wall Street Journal.
The nonprofit organization received the 12.5-acre property from Ms. Kroc, the widow of McDonald’s founder Ray Kroc, as part of a $1.5-billion bequest she earmarked to pay for community centers.
