Gift Agreement Best Practices

In other words, a well-written gift agreement is the best way to ensure that the donor and the organization have the same understanding of all the different aspects of the main gift and agree on this point. If the donor or his name may, at any time, compromise the trust or reputation of the public of the institution, including moral turpitude, the institution shall have the right, with the agreement of the board of directors, to withdraw the name or return the gift. Just as a not-for-profit organization must keep accurate records of donations received, a donor must keep records of the donations it has made, especially when it comes to the tax period. Having an accurate gift agreement and other financial documents on file will help keep the nonprofit and donor on the same page.

Share Button