Barbara Rhomberg

 

Charitable gifts that are restricted by donors to a particular purpose can be a mixed blessing. Sometimes the donor's restrictions turn out to be impractical, and charities wind up with endowment funds or restricted funds that are difficult for the charity to use. Other times, it's the donors (or their family members) who change their minds, and ask to redirect their previous donations to a different use. This workshop will review the legal rules for modifying the purpose of restricted funds under the Uniform Prudent Management of Institutional Funds Act (UPMIFA), using a variety of case studies. We will also consider how planned giving donors can work with charities to change the gift purpose designations in the CRTs and CGAs they established in prior years. 
 
CFRE: Approved for 1 point
CAP: Approved for 1 PACE credit