For many charitable institutions, accepting gifts subject to certain donor-imposed restrictions is a normal course of business. But what about those restrictions that have outlived their purpose or failed to evolve with the times? This is particularly common for gifts made many years or decades ago where the restriction is the only thing that has not changed. Fortunately, when certain situations arise, Ohio law affords charities the opportunity to release or modify the restriction under certain conditions. This article outlines three different opportunities available to Ohio charities to address this issue.
