Re: Cash gifts to community?
From: Ann Zabaldo (zabaldoearthlink.net)
Date: Tue, 29 Dec 2020 10:43:48 -0800 (PST)
hi all —

As part of our resale process here at Takoma Village we ask sellers for a 
donation to the community upon the successful completion of a sale.  We’ve 
received over $100k in the last 5 years.  We do not allow those gifts to carry 
a restriction.  The donations are added to our Special Projects reserved fund. 
The community decides how the funds will be spent.

Best --

Ann Zabaldo
Takoma Village Cohousing
Washington, DC
Member, Board of Directors
Mid Atlantic Cohousing
Principal, Cohousing Collaborative, LLC
Falls Church, VA
202.546.4654

One minute you’re young and fun.  And the next, you’re turning down the stereo 
in your car to see better.  www.bizwaremagic.com

NOTE: I am switching back to: zabaldo [at] earthlink.net.  Many apologies!  





> On Dec 29, 2020, at 1:36 PM, Elizabeth Magill <pastorlizm [at] gmail.com> 
> wrote:
> 
> I've never heard of it in cohousing outside of raising money for a specific
> project.
> 
> As a person with a great deal of experience with restricted funds in
> churches, I'd have a policy that says
> "we do not accept restricted gifts that will not have been spent in full in
> next 5 (or 7 or 9) years."
> and also
> "we do not accept gifts that do not have an agreement for how and when to
> spend the principal."
> 
> We are in the process of asking the attorney general to change our steeple
> lighting fund. Back when lights were expensive and we had to hire a lift to
> replace the light bulbs this was a generous gift. Now the lights are LED
> and will last years and the steeple itself is falling down and we can't
> spend the steeple lighting fund on fixing the steeple, while the steeple
> fund grows steadily. If we close we will be in the absurd place of finding
> another church with a steeple to give the money to.
> And this is the *easiest* of the "endowments gone awry" I've heard of.
> 
> Liz
> Mosaic Commons Cohousing in Berlin, MA
> 
> On Tue, Dec 29, 2020 at 12:17 PM Lyn Deardorff <lynpeachtree [at] outlook.com>
> wrote:
> 
>> Hello all,
>> Wondering how you all have handled accounting and guidelines for using
>> cash gifts to the community.  We have received two significant ones in the
>> last two years - one restricted and one unrestricted.  We would like to
>> establish guidelines for use for this one and future unrestricted gifts.
>> Isn't this a nice problem to have?  Please send any suggestions, past or
>> best practices you have.
>> 
>> Thanks!  And Happy New Year!
>> Lyn Deardorff
>> Sand River Co-Housing
>> Santa Fe, New Mexico
>> lynpeachtree [at] hotmail.com
>> _________________________________________________________________
>> Cohousing-L mailing list -- Unsubscribe, archives and other info at:
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>> 
>> 
>> 
>> 
> 
> -- 
> -Liz
> (The Rev. Dr.) Elizabeth Mae Magill
> Pastor, Ashburnham Community Church
> Minister to the Affiliates, Ecclesia Ministries
> www.elizabethmaemagill.com
> 508-450-0431
> _________________________________________________________________
> Cohousing-L mailing list -- Unsubscribe, archives and other info at:
> http://L.cohousing.org/info
> 
> 
> 

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