TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Monday, November 27, 2006

WSJ: A Prenup for Donors

Interesting article in the Wall Street Journal:  A Prenup for Donors; Burned Nonprofits Try to Make It Harder to Renege on Gifts, by Sally Beatty & Vauhini Vara:

After a spate of damaging incidents in which donors backed out of high-profile gifts, many colleges, cultural centers and other nonprofits are making it tougher for philanthropists to renege on pledges. A number of institutions, including the San Francisco Symphony, are asking donors to sign legally binding gift agreements rather than rely on the looser arrangements some used in the past. Others, such as New York University, are keeping better tabs on pledges, sending frequent reminders or calling givers to keep better track of money coming in. Some are investigating the finances of potential givers to ascertain their ability to complete pledges.

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No way would I sign, those are the only strings I have to influence the organization.

Posted by: Sandy P | Nov 27, 2006 10:00:14 AM