Major Agreements including Gift Agreements, Contribution Agreements, Fundraising Agreements
Charities are often dealing with contracts and entering into binding obligations. Some are relatively routine and involve little risk and charities have systems in place to deal with them and charities are comfortable taking the risk involved in those contracts. Other contracts are complicated, infrequent, and involve large amounts of money and charities should obtain legal advice. Some examples of major agreements include gift agreements, contractor agreements, fundraising agreements with third parties, government funding or contribution agreements, leases, and significant procurements.
In certain circumstances an agreement involving a charity may be similar to other contractual agreements that affect for-profit entities. But in many cases, there are unique requirements for charities and the agreements they sign. If those requirements are not met then the charity may have significant regulatory or practical issues that it has to contend with and the consequences can stretch on for decades. An example is a "simple" restricted gift agreement that creates a perpetual endowment. Another example is a "boilerplate" multi-year fundraising contract with a third party fundraising firm.
We assist charities in reviewing, modifying, and if requested negotiating various types of agreements. Contact us if you wish to retain our services.