US Legal Forms
Legal Resources
Questions & Answers
Donations
What is the correct terminology for a monetary donation?

What is the correct terminology for a monetary donation?

Q: What is the difference between a gift and a charitable donation?

A gift is a voluntary transfer of property or money without expecting anything in return, while a charitable donation specifically refers to contributions made to nonprofit organizations for charitable purposes. All charitable donations are gifts, but not all gifts qualify as charitable donations.

Q: What is another way to say in lieu of gifts?

Another way to say 'in lieu of gifts' is 'instead of gifts' or 'as an alternative to gifts.' This phrase indicates that something else, such as money, is being offered instead of traditional gifts.

Q: How to word 'in lieu of gifts donations'?

You can phrase 'in lieu of gifts donations' as 'donations instead of gifts' or 'monetary contributions in place of gifts.' This clarifies that the intention is to give money rather than physical items.

Q: What is the word for giving money to charity?

The term for giving money to charity is 'donation.' This refers to the act of providing financial support to a charitable organization or cause.

Full question:

I have seen the wording 'Deed of Gift' used for charitable contributions of money as well as in-kind donations, but wonder if you agree that this is correct/satisfactory terminology for a monetary donation.

Category: Donations
Date: 04/07/2025
State: New York

Answer:

A deed of gift is a signed, written instrument containing a voluntary transfer of title to real or personal property without a monetary consideration. Cash is considered personal property. Gifts-in-Kind (GIK) are generally defined as non-cash donations, other than real and personal property, of materials and long-lived assets. It is acceptable to use a deed of gift to make a monetary donations. The deed of gift often is used to specify the terms attached to the donation. The terminology and procedures used often depend on the policies of the entity involved.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

How do you say money in lieu of gifts?

The phrase 'money in lieu of gifts' can be expressed as 'monetary donations' or 'cash gifts.' This terminology indicates that instead of giving physical gifts, one is contributing money to a cause or individual.