Donations of money collected for the project are provided by – as project agents and held in trust and paid only to finance the acquisition of the property. If the acquisition is not completed on or before a given date, the donation deposited by the donor under this agreement is returned to the donor. The donation is not recognized as received by the donor unless the donor waives in writing a right to repay the donation, either under this Agreement or by other means under existing legislation. Donations must be directed to the organization at the address below. All donations are transferred to the property of the organization after delivery and are not refundable, unless otherwise provided by this donation contract. This donation contract is the full approval of the donor and the Organization and completely replaces all prior or oral written or oral statements of the parties or any behaviour of the parties. A provision may be included in the donation contract to establish that the gift is returned to the donor if the money or other donated item has never become the donor`s property. For example, if both parties make promises in the agreement, then a more specific recitation of the consideration can be included. An example is the following in a fiduciary financing contract: the landowner may also have objectives in terms of tax planning, estate planning or land use planning.
The donation agreement gives both parties the opportunity to discuss these objectives, the extent to which the organization is committed to promoting these objectives, and the circumstances under which the landowner may withdraw if it is not met. Some potential donors of facilities do not want or cannot afford to fund facilitation management or to permanently reduce their real estate value without a federal income deduction available. The donation contract gives them the opportunity to negotiate withdrawal rights if they are not satisfied with the potential tax benefit estimated by their tax advisors and appraisers. The donation contract provides the conservation organization with the opportunity to clarify that it assumes no responsibility for agreeing facilitation provisions that do not support its objectives or are contrary to its guidelines and procedures. A well-developed donation contract will include a description of the investment in time and money or other potential inconveniences that could arise to the conservation organization based on the promised donation. Unless otherwise agreed, a donation is generally not refunded once it has been received by the organization. A provision of the donation contract can make this clear. For example, a simple pledge can be all an organization needs from a donor. However, before investing considerable time, money and credibility in a larger project, an organization could try to minimize the potential for misunderstandings and make a donor`s promise to support the project a legally binding obligation.
A carefully crafted donation contract can do this; it can ensure that there is a meeting between the heads of a donor and a donor on the amount and timing of the donation and other important issues that may need to be addressed in order to ensure a satisfactory experience for both parties.