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| Re: Gift Acceptance Policy - including a time retriction to a gift
Posted by Tony Poderis   on 1/2/2012, 10:25 am, in reply to "Gift Acceptance Policy - including a time retriction to a gift"
VIP Poster | Message modified by user Tony Poderis 1/2/2012, 10:28 am
Cathy,
The answer to your question is yes, you should, once you answer this question:
A donor’s contribution may be regarded as being “forever,” but Is the program It supports as enduring?
An organization should carefully review an offer of a contribution when the donor desires that the funds (or endowment income) be restricted to supporting a specific program or service of the organization—especially a program or service which may have an uncertain future, i. e., your “time sensitive” comment.
Since donations on the part of some such givers may be thought by them of being “forever,” an organization should be concerned that the life of the funded program or service might, in fact, be much shorter.
If there is any chance that such a “perpetually” or expected long-term program or service could later be discontinued, or radically altered, there must be clear understanding and agreement with the donor at the time of the gift regarding an acceptable alternative application of such funds if and when that time comes.
Tony
Tony Poderis
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