BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Donation pledges are donors’ promises to give a certain amount of money to an organization over a set amount of time. Donors can make pledges that are conditional, meaning payment will only be made once a condition is met, or unconditional, meaning there are no strings attached.

Detailed explanation-2: -Most courts view charitable pledges as legally enforceable commitments. State law determines a pledge’s enforceability.

Detailed explanation-3: -A charitable pledge is enforceable if it is a legally binding contract. A legally binding contract exists when there is agreement between the parties and there has been “consideration” given in exchange for the pledge.

Detailed explanation-4: -A pledge is when you promise to give a certain amount of money to a cause, usually over time. A donation, on the other hand, is a one-time gift. To put it simply: does the money leave a donor’s wallet now or later and does that money end up in a nonprofit bank account now or later.