In a highly competitive charitable fundraising environment, it is important that charities have a plan to deal with restricted gifts. Gifts may be restricted as to their purposes (e.g. Scholarships) and to the timing of their expenditure (e.g. Long-term endowments).
It is vital to understand restricted gifts and the antiquated legal framework we have in Canada before accepting such gifts. A small amount of effort before accepting restricted gifts can potentially protect a charity from huge costs, inflexibility and ultimately disappointed donors and other stakeholders.
Unfortunately, in many cases, the courts following really old legal precedents, will not assist charities that have not taken certain measures to assist themselves. In other words, you can be ‘successful’ in fundraising, but ultimately, as the world changes, the restricted funds may be of limited use to your charity and what your charity really needs.
In this course, we will look at:
- Defining restricted gifts – legal and practical definitions
- The strategic decision as to whether and how to accept restricted gifts
- The regulatory framework for restricted gifts
- Structuring donor and funding agreements
- Applying new rules on existing endowment funds
- The dangers of restricted funds and how they can perpetually haunt you.
- When can you have the restrictions modified or eliminated
- Suggestions for avoiding problems with restricted gifts and some case studies on restricted gifts
This course will be of interest to charities, including their board members, fundraising staff and financial management personnel. It will also be helpful to philanthropists and their advisors considering how to have maximum impact with their gifts and avoid major mistakes with gifts.
Those who attend this course will have access to a recording of the course for 1 year after the event.
$249 (early bird special until July 21, 2024 of $199)
If you have questions, please call Daniela Campos at 416-361-1982 ext. 252 or e-mail daniela@blumbergs.ca.