Donation Agreement Contract

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. The Guide Giving Shares and Other Securities discusses the benefits of donating shares rather than cash, the procedure for doing so, and the applicability of gift agreements in certain circumstances. A gift or donation agreement, which should not be confused with a gift acceptance policy, is specifically intended to spell out and document what the donor expects and what the nonprofit has committed to do. Any gift that reaches the primary gift status set by your organization should require a gift agreement, including at the monthly gift level. A thorough gift deal can ensure that your nonprofit and the donor are on the same side and agree with the different aspects of the main gift. Gift agreements are made and signed to avoid any misunderstandings and show your donor that you are interested and that he is appreciated and important. Here`s an example of a gift deal for the University of Alabama at Birmingham, provided by the Association of External Relations Professionals. According to the Pennsylvania Land Trust Association, a written agreement is required for: one of the fundamental purposes of any agreement proving a gift of money is to determine the amount of the donation and the required payment date(s) period(s). As a general rule, the promised amount must be paid in full on or before a given date. other payment arrangements may work well in other cases; For example, a donation may be more affordable if it is made according to a payment plan over time or upon the arrival of a future event.

An Introduction to Stewardship Funding Arrangements and model Stewardship Funding Covenant contain examples of rules relating to deferred funding of a cash donation that can be adapted to apply to donations of money (whether donations are for stewardess purposes that are at the heart of this guide and template). Here`s an example of Lynne Wester`s language from Donor Relations Guru that you can have checked by your general counsel and then have in your gift agreement: Philanthropy Works published an article about entering into a gift agreement oriented towards a departmental direction perspective…