On Second Thought: Changing the Purpose of Yesterday's Gifts
Charitable gifts that are restricted by donors to a particular purpose can be a mixed blessing. Sometimes the donor's restrictions turn out to be impractical, and charities wind up with endowment funds or restricted funds that are difficult for the charity to use. Other times, it's the donors (or their family members) who change their minds, and ask to redirect their previous donations to a different use. This workshop will review the legal rules for modifying the purpose of restricted funds under the Uniform Prudent Management of Institutional Funds Act (UPMIFA), using a variety of case studies. We will also consider how planned giving donors can work with charities to change the gift purpose designations in the CRTs and CGAs they established in prior years.
 
Author Name
Barbara Rhomberg
Source
National Conference on Philanthropic Planning
Publication Year
2016
Topic
Administration
Document Type
Model
Career phase
Enhancing Program
Featured Content?
Yes
File
On Second Thought:  Changing the Purpose of Yesterday's GiftsOn Second Thought: Changing the Purpose of Yesterday's Gifts984 KB
Keywords
NCPP2016, Syllabus 4.02
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