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Abstract: 

Many times as charitable planners we encounter situations in which our clients/donors have made a charitable pledge and would like to alter or adjust that pledge in some manner. This brief article examines the tax and practical implications of changing a charitable pledge. The dictionary defines a “pledge” as a “solemn promise or undertaking,” and within the context of charity, as “a promise to donate money or property.” Two main questions arise with a charitable pledge, one dealing with deductibility and the other dealing with enforceability.

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Affiliations:  1: Kallina & Associates, LLC; 2: Kallina & Associates, LLC.