In 2017, Utah State University made an administrative decision to maintain scholarship criteria that could be problematic in gift contracts established before 2017. It was agreed that any agreement that will be amended after 2017 and that contains problematic scholarship criteria will be repealed or amended at the time of the amendment. The donation and deposit form records the donor`s intent and signature and is considered a signed promise. The total amount promised is recorded in the university`s donations at the time of signing. (However, donor-advised commitments are counted when funds are received.) When a donor plans to recommend a grant from an FAD/CF to create a designated fund, a letter of intent is used instead of a donation agreement. ConservationTools.org, which was managed by the Pennsylvania Land Trust Association, has been very thorough in creating a useful donation manager from the perspective of a conservation organization. You can check here. Some other questions and points from Philanthropy Works to consider when you have your formal agreement, writing: Look at an example of a gift agreement from the University of Alabama at Birmingham provided by the Association of Gift Relations Professionals here. The days of “Take my money and do with it what you want” are fortunately behind us. Our charities do so much more when we have real partnerships with donors, because they have so much more to offer us than just their financial support. However, this more engaged relationship requires us to carefully review and document what the donor expects and for the charity to be engaged. Gift agreements, often referred to as declarations of intent, serve explicitly to achieve both objectives.
This resource contains useful information on why a gift deal may be necessary and important and how you can start with an agreement. The following section, entitled `Gift Template Agreement`, contains a gift agreement that has been modelled by an agreement established by the Community Foundation of Collier County. Look at these pages for more gift deals: As a non-profit organization must keep accurate records of the donations received, so a donor must register the donations they have made, especially when it comes to tax time. A specific agreement on gifts and other financial documents will help keep the non-profit organization and donor on the same page. If a scholarship gift of $10,000 or more is fully spent within one year of receipt, there is no need to execute a gift contract. However, the scholarship criteria must be approved by the Promotion Services Office. Scholarship gifts of less than $10,000 are deposited in a scholarship fund (usually general scholarship accounts) established in agreement with the donor. If a donation contract requires information or measures that are not included in the approved model, the Senior Director of Approval Services and/or Vice President of Recommendation Approval should be consulted.