In The News

Tax Counsel Explains Importance of Flexibility in Gift Agreements in The Chronicle of Philanthropy

Practices: Tax, Tax-Exempt Organizations

Tax counsel Morey Ward is quoted in a March 2 Chronicle of Philanthropy article about how nonprofits and donors can structure multiyear pledges to ensure that gift commitments are met. In the article, Ms. Ward outlines the basic provisions a gift agreement should contain, including clauses that provide flexibility to deal with unforeseen developments, including circumstances in which the donor cannot meet the full commitment amount.