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Asset Donation Agreement

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. In a donation contract entered the most important details of the relationship of the parties: things like the identity of the parties, a description of the donation and, if you wish, things like the form of receipt that was given and the intended use for the donation. A good donation contract also deals with withdrawal (if the donation can be withdrawn) and cost liability. A well-developed donation contract form contains a description of the investment in time and money or other potential disadvantages that grant commitments could cause for the organization. Some other questions and points from Philanthropy Works that must be taken into consideration when drawing up your formal agreement, writing: A donation contract is established if a party wishes to donate a fortune to another party. Through this agreement, the donor agrees to transfer a given property to another person or non-profit organization free of charge. These assets may include ownership, company shares or even cash. If the parties agree to document the various aspects of the pledge, this will result in a donation contract. The agreement may also mention that all disputes arising from the agreement fall within the exclusive jurisdiction of a particular jurisdiction. Here is a model gift scheme created for real estate by Tulsa County.

A moral clause or moral clause is a small but important segment that you can add to your gift contracts. A moral clause is used to define certain circumstances that would be inconvenient or detrimental to the reputation and values of an organization. According to Lynne Wester, not-for-profit organizations must protect their organizations from unreasonable risks. Most non-profit organizations depend on the goodwill of the public service to attract donors. A close relationship with someone whose name has been severely damaged can damage the reputation of the non-profit organization and its ability to gain support. Since a not-for-profit organization must keep accurate records of donations received, a donor must keep a donation record, especially when it comes to the tax period. A specific agreement on gifts and other financial documents will help keep the non-profit organization and donor on the same page. Look at an example of an example gift deal example from the University of Alabama at Birmingham provided by the Association of Gift Relations Professionals here. Here`s an example of Lynne Wester`s language at Donor Relations Guru for checking you through your general counsel and then in your gift contract in place: Philanthropy Works has published a coin on entry with a gift deal geared towards a service management perspective.