Grantmaking and Gift Planning
What is an Endowment?
Black’s Law Dictionary, 9th ed., defines an endowment as: A gift of money or property to an institution (such as a university) for a specific
December 27, 2021
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Starting a nonprofit
Top Five Nonprofit Legal Risks
Too often, we see nonprofits signing contracts that are presented to them by vendors without appropriate legal review. Many vendors use form contracts that are extremely one sided in the vendor’s favor on the theory that many clients will sign whatever is given to them without scrutinizing the terms.
February 11, 2015
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Grantmaking and Gift Planning
Managing Donor Restricted Gifts
Giving donors the power to restrict their gifts for a specific purpose or program or to restrict the timing and amount of expenditures can be a powerful giving incentive. Restrictions give donors comfort that their gift will be used as they envision.
April 14, 2014
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Grantmaking and Gift Planning
Nonprofit Law Jargon Buster: What is the Cy Pres Doctrine?
From time to time, charities are faced with what to do with a restricted gift when the terms of the donor’s restriction can no longer be fulfilled. The doctrine of cy pres permits the courts to modify the charitable purpose of a charitable trust to a purpose that reasonably approximates the designated purpose, where the designated charitable purpose becomes unlawful, impossible, or impracticable to carry out or where it becomes wasteful to apply all of the property to the designated purpose.
January 9, 2013
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