{"id":12633,"date":"2025-05-15T06:35:11","date_gmt":"2025-05-15T06:35:11","guid":{"rendered":"http:\/\/localhost\/mcn\/blog\/building-and-being-an-effective-board-of-directors-for-your-nonprofit-understanding-key-roles-and-responsibilities-at-your-organization\/"},"modified":"2026-06-05T19:27:09","modified_gmt":"2026-06-05T19:27:09","slug":"building-and-being-an-effective-board-of-directors-for-your-nonprofit-understanding-key-roles-and-responsibilities-at-your-organization","status":"publish","type":"post","link":"https:\/\/gc.gcdev3.com\/mcn\/blog\/building-and-being-an-effective-board-of-directors-for-your-nonprofit-understanding-key-roles-and-responsibilities-at-your-organization\/","title":{"rendered":"Pledges & Promises: Gift Acceptance Policy Guidelines"},"content":{"rendered":"

A promise is a promise. But that doesn\u2019t always mean that it can or will be\u00a0enforced \u2014 especially in the area of charitable giving. Donors sometimes make charitable pledges, but intervening events, such as an economic downturn or dissatisfaction with how the charity uses the gift, may cause donors to delay or even fail to fulfill their pledges.<\/p>\n

Documenting major gift transactions can help avoid misunderstandings on both sides. For most gifts, maintaining simple written records of the gift promise and documentation of receipt is sufficient. For major gifts (i.e., capital improvements or endowments), it is a good idea for the donor and charity to sign a gift agreement outlining the terms of the gift. This ensures that both sides have the same understanding of the terms of the gift when the gift is made.<\/p>\n

The terms of these agreements can vary, but at a minimum should:<\/p>\n