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Donations and contributions - whether from individuals, corporations, or foundations - are a critical revenue source for most nonprofits. Still, large gifts often come with strings attached, and those strings (as well as the funds) need to be managed with a full understanding of what is involved.
As a nonprofit leader, you probably have to answer questions from time to time about donated funds and gift restrictions. It is important to understand the details or have a quick way to find the answers. Phillips Financial Strategies works closely with nonprofit leaders to ensure that planning, policies, and practices are all neatly in place and in line with your donors’ intentions, as well as your organization’s by-laws and fiscal policies.
Here are a few common restrictions on gifts:
When you understand the details and variations among such things as endowments, charitable gift annuities, donor-advised funds, private foundations, and kinds of planned giving you will be better able to provide your donors with knowledgeable guidance about the best ways for them to make their gifts count - now and in the future.
REQUEST MORE INFORMATION ABOUT MANAGING DONATED FUNDS
More reading: (these are the kinds of things your donors need you to know and help them understand!)
Charitable Planning: Donor Advised Funds vs. Private Foundations
Tax Advantages of Charitable Gift Annuities
How Charitable Giving Can Really Pay Off