Known Information: JD Foundation has $79 million of investment assets and $3 million in cash for the period ending Q3 2022. Jane has indicated that JD Foundation should have a $3 million cash reserve at all times. Additional contributions and/or withdrawals of the invested assets are permitted on the first calendar Day of each month, and cash can be used to make gifts from the Foundation at any time. All grant Commitments are paid in cash. Jane turns 50 years old in December 2022 and plans to spend down the Foundations assets over the Next 10 years. Jane has expressed that she would like to give $5 million more to JD Foundation, timing to Be determined. As shown in Exhibit A, JD Foundation has already made a number of commitments. JD Foundation has also made a contingent commitment to organization ZYX stating that any funds Remaining in JD Foundation at the end of 10 years, after all known grants are fulfilled, will be granted in Full to organization ZYX. If there are no funds remaining, organization ZYX will not receive a grant.

Estimated Payment Start Date	Organization Name	Grant Duration	Total Commitment
1/1/2023	ABC Charity	5-year Commitment	25,000,000
1/1/2023	DEF Charity	5-year Commitment	25,000,000
6/1/2023	GHIF Charity	5-year Commitment	20,000,000
6/1/2023	JKL Charity	5-year Commitment	10,000,000
10/1/2023	MNO Charity	5-year Commitment	1,000,000
1/1/2023	PQR Charity	5-year Commitment	7,500,000
1/5/2023	STU Charity	10-year Commitment	5,000,000

Build an excel model showing foundation grant obligations and cash flow through the specified time period. a. Consider: (1) Investment and/or withdrawal from investments,(2) Duration and cadence of grants, and (3) Remaining dollars after all grants are satisfied