Donors want tight knots; charities sometimes need scissors
In business transactions, each party generally seeks to maximize his advantage. But for charitable gifts, typically the donor and the charity have the same goal — to best further the charity's mission. Nevertheless, donors want their directions for the uses of their gifts followed, and charities want flexibility if other needs become more important or the original restrictions are no longer appropriate. In a perfect philanthropic world, the gift agreement would give flexibility to the ...
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