What is charitable subscription?

Contracts Law. A charitable subscription, also called a charitable pledge, is a donor's written or oral promise or statement of intent to contribute money or property to a charity.

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Charity Subscription Agreement

Charity Subscription Agreement

Name: Charity Subscription Agreement
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.84 (430 reviews)

Category:

Contracts - Charity

State:

Multi-State

Control #:

US-1032BG

Format:

Instant download

Description

A subscription agreement is a legal obligation to make a payment in money or its equivalent in furtherance of a charitable, business or other undertaking, A 501(c)(3) organization is a corporation, trust, unincorporated association, or other type of organization that is exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. For example, 501(c)(3) tax-exemptions apply to entities that are organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes.

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FAQ

It is a unilateral promise without consideration. California Civil Code Section 1146 defines a gift as follows: A gift is a transfer of personal property, made voluntarily, and without consideration. Section 1147 says that a verbal gift is generally unenforceable unless the means of obtaining possession and control

In California, a pledge is enforceable as a binding contract only if there is consideration. In certain other states, the rules are less strict: Even a promise to make a payment to a charitable organization without anything given in return may be enforceable as a matter of public policy.

Contracts Law. A charitable subscription, also called a charitable pledge, is a donor's written or oral promise or statement of intent to contribute money or property to a charity.

A gift is a voluntary and gratuitous transfer of property from one person to another, without something of value promised in return. Failure to follow through on a promise to make a gift is not enforceable as a breach of contract because there is no consideration for the promise.

Charity Subscription Agreement

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