District of Columbia Gift Agreement Between Donors and University Foundation with Purpose of Gift to Construct Building to be Named after Donors

• Category: Gifts - Donations
• State: Multi-State
• Control #: US-13369BG
• Format: Word; Rich Text

Description

This form is a sample gift agreement between donors and a university foundation with the purpose of the gift to be construction of a building to be named after the donors. The District of Columbia Gift Agreement Between Donors and University Foundation with Purpose of Gift to Construct Building to be Named after Donors is a legal document that outlines the terms and conditions of a donation made by individuals or organizations ('donors') to a university foundation in Washington, D.C. This specific type of agreement focuses on the construction of a building that will bear the name of the donors as recognition for their generous gift. The Gift Agreement serves as a legally binding contract between the donors and the university foundation, detailing the rights, responsibilities, and obligations of both parties. It ensures transparency, clarity, and accountability regarding the donation and its intended purpose. Keywords: District of Columbia, Gift Agreement, Donors, University Foundation, Construct Building, Named after Donors, Legal document, Terms and Conditions, Donation, Individuals, Organizations, Washington, D.C., Recognition, Generous Gift, Legally Binding Contract, Rights, Responsibilities, Obligations, Transparency, Accountability, Intended Purpose. Types of District of Columbia Gift Agreement Between Donors and University Foundation with Purpose of Gift to Construct Building to be Named after Donors: 1. Standard Gift Agreement: This is the most common type of District of Columbia gift agreement, in which donors make a monetary or non-monetary donation to the university foundation specifically designated for constructing a building. The agreement outlines the terms, conditions, and timeline of the donation, including the rights of the university foundation to use the funds, the schedule for construction, and the naming rights of the building after the donors. 2. Conditional Gift Agreement: In this type of agreement, the donors may attach certain conditions to their gift. For example, the agreement might state that the building can only be named after the donors if specific criteria are met, such as the completion of certain academic programs or the achievement of certain benchmarks within the university. This ensures that the donors' intended purpose for the gift is fulfilled before the building is named after them. 3. Endowed Gift Agreement: An endowed gift agreement involves donors establishing an endowment fund that will provide ongoing financial support for the maintenance and operation of the building in perpetuity. The agreement outlines the terms of the endowment, including its purpose, management, and the use of generated income to support the building named after the donors. This type of agreement ensures the long-term sustainability of the building and its upkeep. 4. Grant Gift Agreement: In some cases, donors may offer a grant to the university foundation to support the construction of the building. The grant gift agreement outlines the terms and conditions of the grant, including the purpose, amount, duration, reporting requirements, and any specific deliverables or outcomes expected from the funding. This type of agreement may also include provisions for the naming of the building after the donors as a gesture of appreciation for their grant.

The District of Columbia Gift Agreement Between Donors and University Foundation with Purpose of Gift to Construct Building to be Named after Donors is a legal document that outlines the terms and conditions of a donation made by individuals or organizations ('donors') to a university foundation in Washington, D.C. This specific type of agreement focuses on the construction of a building that will bear the name of the donors as recognition for their generous gift. The Gift Agreement serves as a legally binding contract between the donors and the university foundation, detailing the rights, responsibilities, and obligations of both parties. It ensures transparency, clarity, and accountability regarding the donation and its intended purpose. Keywords: District of Columbia, Gift Agreement, Donors, University Foundation, Construct Building, Named after Donors, Legal document, Terms and Conditions, Donation, Individuals, Organizations, Washington, D.C., Recognition, Generous Gift, Legally Binding Contract, Rights, Responsibilities, Obligations, Transparency, Accountability, Intended Purpose. Types of District of Columbia Gift Agreement Between Donors and University Foundation with Purpose of Gift to Construct Building to be Named after Donors: 1. Standard Gift Agreement: This is the most common type of District of Columbia gift agreement, in which donors make a monetary or non-monetary donation to the university foundation specifically designated for constructing a building. The agreement outlines the terms, conditions, and timeline of the donation, including the rights of the university foundation to use the funds, the schedule for construction, and the naming rights of the building after the donors. 2. Conditional Gift Agreement: In this type of agreement, the donors may attach certain conditions to their gift. For example, the agreement might state that the building can only be named after the donors if specific criteria are met, such as the completion of certain academic programs or the achievement of certain benchmarks within the university. This ensures that the donors' intended purpose for the gift is fulfilled before the building is named after them. 3. Endowed Gift Agreement: An endowed gift agreement involves donors establishing an endowment fund that will provide ongoing financial support for the maintenance and operation of the building in perpetuity. The agreement outlines the terms of the endowment, including its purpose, management, and the use of generated income to support the building named after the donors. This type of agreement ensures the long-term sustainability of the building and its upkeep. 4. Grant Gift Agreement: In some cases, donors may offer a grant to the university foundation to support the construction of the building. The grant gift agreement outlines the terms and conditions of the grant, including the purpose, amount, duration, reporting requirements, and any specific deliverables or outcomes expected from the funding. This type of agreement may also include provisions for the naming of the building after the donors as a gesture of appreciation for their grant.