Client AlertsLitigation & DisputesNonprofitMassachusetts and Rhode Island Charities: Unlocking Restricted Funds
By Elizabeth O. Manchester, Morgan E. Hedly, and Paul M. Kessimian For many charitable institutions, accepting gifts subject to certain donor-imposed restrictions is in the normal course of business. While these restricted funds are quite common, their usefulness can occasionally become impractical. This frustration of purpose is particularly common for gifts made many decades ago. ...