FundSvcs Community

Expand all | Collapse all

liabilty with a donation

  • 1.  liabilty with a donation

    Posted 21 days ago
    We have a potential donor to our Formula Society of Automotive Engineers (SAE) program who is a bit reluctant due to liability. His concern is that if there were to be an accident with the car, he could be held liable just for being a sponsor with a monetary donation.

    1)Is this in any way true?
    2) Is there any type of liability release or language that could be used in a gift agreement?

    Appreciate any insight!


    ------------------------------
    Jodi Bruns
    Sr. Director of Advancement Services
    Minnesota State University, Mankato
    jodi.bruns@mnsu.edu
    ------------------------------


  • 2.  RE: liabilty with a donation

    Posted 21 days ago
    I trust you are being given the car.  Not just the use of it for a race.  If so, I do think it very possible to draw up a deed of gift and ownership transfer documents that will hold the donor harmless.  But these are documents only your Counsel can advise on - and the donors' attorney approves.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987