Summer Institute for Advancement Services Pre-Institute Sessions-Gift Agreements and Compliance

Gift Agreements and Compliance - Harrell McCrory 2023 Final

Pdf Summary

This document discusses gift agreements and compliance in the context of charitable organizations. It highlights the importance of documenting donor intent and outlines the various ways donor intent can be recorded. The document also explains the purpose of gift agreements and the benefits they provide, such as increasing donor trust and reducing donor relations issues. It identifies the risks of poorly executed gift agreements, such as unspent or overspent funds, non-impactful philanthropy, donor dissatisfaction, and public embarrassment. The document then lists the elements of healthy gift agreements, including clear revenue sources, broad and flexible terms, compliance with legal and business policies, and proactive education and communication. It also addresses the distinction between preferences and requirements in gift agreements and provides examples of criteria that cannot restrict or limit recipients based on various factors. The document emphasizes the importance of asking questions and digging deeper when drafting gift agreements, as well as respecting perpetuity and leaning on gift acceptance policies. It concludes with a discussion and questions section, as well as technical appendices that provide more detailed information on the parties involved, funding sources, fund structure, use information, fund administration, governing laws, and relevant laws, policies, and regulations.

Keywords

gift agreements

compliance

charitable organizations

documenting donor intent

benefits of gift agreements

risks of poorly executed gift agreements

elements of healthy gift agreements

distinction between preferences and requirements

drafting gift agreements

perpetuity