Gift agreement for restricted gifts
===================================

Gift agreement

This agreement is between [DONOR NAME(S)] ("the Donor") and [ORGANIZATION NAME], a nonprofit corporation in [STATE] ("the Organization"). It is effective on [DATE].

1. The gift

The Donor agrees to give the Organization $[AMOUNT] [IN CASH / IN [DESCRIBE NON-CASH PROPERTY]].

The gift will be paid:

- [ ] in full on or before [DATE], or
- [ ] as a pledge in [NUMBER] payments, as follows:

| Payment | Amount | Due date |
|---|---|---|
| 1 | $[AMOUNT] | [DATE] |
| 2 | $[AMOUNT] | [DATE] |
| 3 | $[AMOUNT] | [DATE] |

2. Purpose

The Organization will use the gift for: [PURPOSE, DESCRIBED BROADLY ENOUGH TO LAST].

[OPTIONAL: The gift may be used for these costs of the purpose: [FOR EXAMPLE: STAFF TIME, SUPPLIES, A SHARE OF OVERHEAD AT UP TO [NUMBER]%].]

[OPTIONAL TIME RESTRICTION: The gift will be used between [DATE] and [DATE].]

[OPTIONAL ENDOWMENT: The gift will be held as an endowment fund. Spending from the fund will follow the Organization's spending policy and the law of [STATE]. GET LEGAL ADVICE BEFORE USING THIS OPTION.]

3. Recognition

- [ ] The Donor will be recognized as: [NAME AS IT SHOULD APPEAR], in [WHERE: ANNUAL REPORT, WEBSITE, PLAQUE].
- [ ] The Donor wishes to remain anonymous. The Organization won't publish the Donor's name.
- [ ] [NAMING: The [ROOM / PROGRAM / FUND] will be named "[NAME]" for [PERIOD / AS LONG AS THE PROGRAM CONTINUES]. If the gift isn't paid in full, or if naming would harm the Organization's reputation, the Organization may end or change the naming after talking with the Donor.]

4. Reporting

The Organization will send the Donor a short report on how the gift has been used [ONCE A YEAR / AT THE END OF THE PROJECT], by [DATE OR MONTH]. The report will include [THE AMOUNT SPENT, WHAT IT PAID FOR, AND RESULTS].

5. Acknowledgments

The Organization will send a written acknowledgment for each payment, including the information the IRS lists for acknowledging contributions of $250 or more. [The Organization will provide no goods or services in return for this gift.] [OR: In return for this gift the Organization will provide [DESCRIBE], with an estimated value of $[AMOUNT].]

6. If the purpose can't be carried out

If the Organization's board decides in good faith that the purpose in Section 2 has become impossible, impractical, unlawful or no longer needed, or that part of the gift isn't needed for it:

1. The Organization will tell the Donor, explain why, and propose a new use as close as possible to the Donor's original intent.
2. If the Donor agrees in writing, the Organization will use the gift for the new purpose.
3. If the Donor has died, can't be reached after reasonable efforts, or can't act, [THE DONOR'S NAMED REPRESENTATIVE, [NAME] / THE ORGANIZATION'S BOARD] may agree to a new use that is as close as possible to the Donor's original intent, in line with [STATE] law, including any court approval or notice to the state attorney general that the law requires.
4. [OPTIONAL: Any part of the gift not needed for the purpose will be used for [SECOND PURPOSE / THE ORGANIZATION'S GENERAL CHARITABLE PURPOSES].]

7. Pledge payments

If the Donor can't make a pledged payment, the Donor will tell the Organization as soon as possible. The Organization will use any payments received for the purpose in Section 2, and may adjust recognition in Section 3 to match the amount actually given. [STATE WHETHER THE PLEDGE IS INTENDED TO BE BINDING ON THE DONOR'S ESTATE. GET LEGAL ADVICE ON THIS CLAUSE.]

8. General terms

- The Donor has not received any promise from the Organization except as written here.
- The Organization will keep this agreement with its permanent records.
- Changes to this agreement must be in writing and signed by both parties.
- This agreement is governed by the laws of [STATE].

Signatures

Donor

Name: [NAME]

Signature: [SIGNATURE]

Date: [DATE]

For [ORGANIZATION NAME]

Name: [NAME]

Title: [TITLE]

Signature: [SIGNATURE]

Date: [DATE]

Approved by the board (or authorized officer) on: [DATE]