This review list is intended to educate you on the subject of this document and to aid you in its preparation. This agreement is typically used by a subscriber to specify the conditions under which they will make a financial contribution to an organization in order to “challenge” others to make a similar contribution. Additionally, it protects the subscriber by allowing them to express their intentions in writing, ensuring that the charity cannot be critical of or legally liable for their acts if they adhere to this agreement.
- Make several copies. Maintain a copy in your safe. If you are too concerned about this process, do not commit to donating any money or valuables.
- If you are the charity, this is an excellent contract to obtain in order to bind the subscriber or potential subscriber to the agreed-upon plan.
Charity Subscription Agreement
Charity Subscription Agreement
I, __________________________, herewith subscribe and agree to contribute, and promise to pay on or before ____________________________, the sum of $_____ (_____________ & ___/100 dollars), in consideration of other subscriptions to be used for ________________ as a part of the ________________________ (Charity or Organization).
This subscription is contingent upon the CHARITY receiving subscriptions for _________________ totaling a minimum of $______ (________________________ & no/100 dollars) by no later than ________________________.
Said subscription, when paid, shall be limited strictly to the uses of ____________________________, _______________________.
This subscription is further contingent upon the amount donated being deductible from income tax. CHARITY shall provide upon demand by SUBSCRIBER official documentation or opinions of counsel satisfactory to SUBSCRIBER establishing the deductibility.
This is the entire agreement between the parties, and may only be altered in writing executed by the party to be charged.
Dated: ______________________For _________________________: Charity
_________________________________
For __________________________: Subscriber
_________________________________
Witness
Charity Subscription Agreement
Review ListThis review list is provided to inform you about this document in question and assist you in its preparation. This agreement is generally used by a subscriber to establish the rules under which they will give money to an organization to “challenge” others to give a substantial sum. It also protects the subscriber by allowing them to put, in writing, what they mean so the charity cannot be critical or legally contentious about their activities if they live up to this agreement.
1. Make multiple copies. Be sure to keep a copy in your safe. If you are unduly concerned about this process, don’t commit yourself to giving the money or assets at all.
2. If you are the Charity, this document is a good agreement to get signed to keep the subscriber or potential subscriber committed to the agreed upon plan.
Frequently Asked Questions
What is a charity subscription agreement?
A charity subscription agreement is a formal document in which an individual promises to contribute a specified sum to a charity or organization. It outlines the amount, payment deadline, and the purpose for which the funds will be used. The agreement may also include conditions such as a minimum total of subscriptions and tax deductibility.
What are the key elements of a charity subscription agreement?
The key elements include the subscriber's name, the contribution amount, the payment deadline, and the intended use of the funds. It also specifies contingencies, such as the charity receiving a minimum total in subscriptions by a certain date and the donation being tax-deductible. The agreement must be dated and signed by the parties.
Is my donation under a charity subscription agreement tax-deductible?
The agreement states that the subscription is contingent upon the amount donated being deductible from income tax. The charity is required to provide official documentation or legal opinions upon demand to establish deductibility. However, you should consult a tax professional to confirm your specific situation.
What happens if the charity does not reach the minimum subscription total?
The subscription is contingent upon the charity receiving subscriptions totaling a minimum specified amount by a certain deadline. If this condition is not met, the subscriber's obligation to pay may be void, as the agreement's terms are not satisfied. The subscriber should review the agreement for any further provisions.
Can I change the terms of a charity subscription agreement after signing?
The agreement states that it is the entire agreement between the parties and may only be altered in writing executed by the party to be charged. Therefore, any changes must be made in a written document signed by the party against whom the change is enforced. Oral modifications are not valid.
What is the payment deadline in a charity subscription agreement?
The payment deadline is a specific date inserted into the agreement by which the subscriber promises to pay the pledged amount. It is typically stated as 'on or before [date]'. The subscriber must ensure payment is made by that date to fulfill their obligation.
How is the donated amount used according to the agreement?
The agreement specifies that the subscription, when paid, shall be limited strictly to the uses of a particular purpose or program within the charity. This ensures that the funds are restricted to the designated use. The exact purpose is filled in on the form.
What documentation must the charity provide for tax deductibility?
The charity must provide, upon demand by the subscriber, official documentation or opinions of counsel satisfactory to the subscriber establishing the deductibility of the donation. This requirement is contingent upon the donation being tax-deductible. The subscriber can request this documentation at any time.
Who are the parties involved in a charity subscription agreement?
The parties are the subscriber, who promises to contribute, and the charity or organization, which is the recipient of the funds. The agreement includes spaces for the subscriber's name and the charity's representative. Both parties may sign and date the document.
What does 'entire agreement' mean in a charity subscription agreement?
The 'entire agreement' clause means that the written document constitutes the complete and final understanding between the parties, superseding any prior discussions or agreements. It ensures that only the terms written in the agreement are binding. Any changes must be made in writing and signed by the party to be charged.
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