When Donors Can't Keep Their Pledges

As wealthy donors watch their portfolios shrink, a number of philanthropists are finding they may not be able to fulfill a multi-year pledge or continue annual contributions to charities they support. Although a pledge is a legally enforceable contract in most states, charities typically don't enforce them. But a donor's ethics and reputation may still be on the line. If you have been a steady supporter of a charity but have to cut back on your usual gifts this year, get in touch with the charity right away and consider alternative forms of donations.

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