Learn how donor intent is established, enforced, and adapted, plus practical tips for crafting effective gift agreements for donors and charities.
Donors gain personal satisfaction and tax benefits by supporting their favored charitable causes. However, donors and charities must work together to understand a donor’s intent and make sure it is carried out. This presentation will help attendees understand the different ways that donor intent is established and documented, who can enforce the donor’s intent, and what changes can be made if a donor’s intent cannot be carried out. Attendees will also hear about practical ideas of what to include in a gift agreement from a donor’s perspective and a charity’s perspective.
Learning Objectives
- You will be able to discuss how a donor’s intent may be enforced and by what party.
- You will be able to explain how a donor’s intent may be modified.
- You will be able to review gift agreements from the perspective of a donor and a charity.
- You will be able to define cy pres.
Agenda
How Can Donor Intent Be Defined by the Donor?
- Estate Planning Documents
- Gift Agreements
- Mission Statements
Who Can Enforce Donor Intent?
- Donor
- Attorney General
- Family Members
- Other Named Organizations
What Does the Donor Need to Think About?
- What Restrictions Does the Donor Want to Impose? Naming Rights, Specific Programming Criteria, Other?
- Does the Donor Want to Continue to Be Involved During the Use of the Gift?
- Is There an Alternative to a Restricted Gift, Such as a DAF or Private Foundation?
What Does the Charity Need to Think About?
- What Restrictions Are Imposed on the Gift? Are These Restrictions Established by a Written Gift Agreement, Through Donor Correspondence or Solicitation Materials, or Governing Documents?
- Should the Charity Retain the Ability to Change the Restrictions?
- Case Studies
What Can Be Done With a Donor’s Intent Can No Longer Be Carried out?
- Cy Pres
- Deviation
- Change in Recognition (May Require Return of Funds or Other Resolution)
- Modification Provision
- Old and Cold Provision
Speakers
Jason J. Kohout,
Foley & Lardner LLP- Associate, Foley & Lardner, LLP, practices in tax-exempt and political law areas
- Co-writer, “Bellco Credit Union Decision Extends Tax-Exempt Royalty Treatment to Income from Insurance Sales,” Taxation of Exempts, Sept./Oct. 2011 Issue
- Co-writer, Tax Chapter, Guide to Wisconsin Nonprofit Law, Wisconsin Bar Association Deskbook
- Assists with the representation of a large membership organization and several healthcare organizations with specific concerns relating to unrelated business income tax
- Co-developed Foley Charitable Academy, a series of presentations to prepare professionals for board service and involvement with nonprofits as pro bono advisors
- J.D. degree, Harvard Law School; A.B. degree, Harvard College
Emmaline S. Jurgena,
Foley & Lardner LLP- Associate, Foley & Lardner, LLP, practices in estate and tax planning
- Co-Chair, Milwaukee Association for Women Lawyers
- Assists with initial formation, ongoing administration, tax counseling and tax return preparation, assistance with IRS audits, and litigation for a wide variety of tax-exempt organizations including colleges and universities, hospital systems, religious organizations, museums, private foundations, social welfare organizations, and other tax-exempt and nonprofit organizations
- Assisted with transfer and tax planning for $24 million dollar bequest to large charity involving an innovative tax structure with multiple partnerships and redemptions
- J.D. degree, University of Chicago Law School; B.A. degree, summa cum laude, Marquette University
Who Should Attend
This live webinar is designed for accountants, executive directors, controllers, tax managers, CFOs, CEOs, business owners and managers, board members, treasurers, and attorneys.
