Preferenced Gift

A preferenced gift is one in which a preference indicated by a giver expressing the giver’s wishes, desires, or advice on how or when the gift will be used but is not restricted for a specific individual. Preferenced gifts are generally recorded as temporarily restricted because the gifts are restricted for a certain purpose and the preference relates to greater specificity than the ministry’s overall purpose.

 


This text is provided with the understanding that ECFA is not rendering legal, accounting, or other professional advice or service. Professional advice on specific issues should be sought from an accountant, lawyer, or other professional.

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