sample restricted gift agreement

The donors intentions may be expressed in ways which may not alert the charity (on receipt of the gift) of the possibility that donor intended it to be used only for a specific purpose.
The donation agreement can include a representation on the part of both the donor and the donee that each has relied on its own professional advisors guidance with respect to the donation and not any advice from the other or the others consultants or agents.
No deduction unless donor gives up control For federal tax purposes, a contribution is deductible only if it is made to or for the use of a charitable organization.
The organization also risks a pattern of donors coming to see the organization first as a service provider to the donor and only secondarily (if that) as an independent organization dedicated to the broader public interest.
Landowners may wish to donate their farm to a land trust with requirements restricting use of the land to sustainable agricultural production and educational purposes.Broad language in solicitation materials also covers the happy circumstance when the solicitation raises more money than needed for the solicited project.The donation agreement also affords the donee the opportunity to consider the long-term consequences of accepting a gift with strings attached.If the donor wants to include a specific purpose clause, the purpose should be broadened beyond the specific program to include other programs and projects large printable gift tags free christmas to protect endangered species or, even broader, such other programs benefiting natural habitat as are determined in the discretion.

The intent of this provision is to commit the donee to the donors specified purpose for as long as feasible, as determined by the board, with documented permission by the donor to redirect the use of the gift in the discretion of board without the.
Environmental liability is an obvious concern; other liabilities are not as readily apparent.
Since restricted park and fly oakland discount coupon gifts present special challenges, a conservation organization is well served by establishing a gift acceptance policy that addresses restricted gifts; also, essential to proper administration is a system to keep track of restrictions so that the organization doesnt inadvertently violate the terms.
If the donor intends a gift to be restricted, a donation agreement between the donor and donee that spells out the gifts restrictions and addresses related matters helps prevent misunderstandings and, if relations sour badly, litigation.
If a donor places a restriction on the use of contributed property that affects the propertys marketability, the value of the gift as determined for tax purposes must be reduced accordingly.Let Charitable Directors Direct: Why Trust Law Should Not Curb Board Discretion over a Charitable Corporations Mission and Unrestricted Assets, 80 Chi.-Kent.Less fun for donors, but better results for the causes served by charities.10 170(a) Internal Revenue Code.For example, if the land trust solicits donations to acquire land for a preserve and, for some reason, closing does not occur, can it apply the funds collected to other land acquisition projects?

Smart charities honor donor wishes as expressed at the time of gift acceptance, whether or not those wishes are made mandatory with gift restrictions.
All donations to the project will be applied to Happy Hollow real property purchases or placed in a restricted stewardship fund that ensures permanent care for the Trusts Happy Hollow conservation lands.