Re: Capital Campaigns
Posted by Judi Margolin  on 2/12/2009, 12:51 pm, in reply to "Capital Campaigns"
Interesting question Martha. I posed it of our own Vice President for Development. She does not pretend to be an expert on this topic, but has many years of fundraising experience. Here is her reply:
Are you saying that they will not be able to purchase any building, as promised to their donors, or will they look for another building to purchase?
If the latter, it's less serious - they can communicate apologetically with the donors that the plans have been delayed, but will move forward, "we expect", within 2 years. (I would be more self-conscious about a delay longer than 2 years) and of course their grant will be invested (in CDs) for that specific purpose.
It the plan to purchase a building is off the table, then they must write or call to explain why, and ask each individual donor if they would allow the organization to apply the funds for another purpose. But their auditors and the IRS would absolutely require that the donor must confirm this willingness IN WRITING. Otherwise the money must be returned, and soon.
Martha, we have a number of books here in the Catalog of Nonprofit Literature on starting and running Capital Campaigns, including this newer one:
Title: CAPITAL CAMPAIGNS & MAJOR GIFTS 101 (2007 ed)
Publisher Name: Sinclair, Townes & Company
Place of Publication: Atlanta, GA
Year of Publication: 2007
Pagination: iv, 80 p
Call Number: 713 SIN CAP
Record Type: Monograph
I looked through several of the books here at our headquarters library using the indexes, but couldn't find treatment of this specific issue.
I hope this helps.
|
|
|
|
