Good morning Colleagues!
I have a situation that is rather unusual and I would like your input on what is the best way to handle it.
We were raising money to fund the construction of a building on campus. Unfortunately after a number of years of fundraising efforts there was not enough philanthropic interest to fund the project. We went back to the donors and asked whether they would like their money returned or redirect to another fund. One of the donors came back and requested that his donation to be transferred to another 501C3 organization. Is that acceptable?
Thank you in advance for your input!