Legal Question in Business Law in Arizona

We are a 501(c)3 organization that has received donations 8 years ago from our members that were earmarked to build a small building. After much research the decision was made we could not afford to construct the building or to maintain it. We would like to know if we could move those funds to our general account.


Asked on 4/26/10, 12:33 pm

1 Answer from Attorneys
Lance Davidson Lance S. Davidson, P.C.

Hi, it depends on your enabling instruments, and any restrictions imposed by the donors on the donations, and the use of the general account.

You should consult with an attorney to assure your actions are properly carried out. You may contact my office via my website at www.CleverLegal.com to discuss your options. Your issue may be time-sensitive and may result in loss of rights if you do not act in time. Thank you.

Disclaimer: This answer does not create an attorney-client relationship and is for informational purposes only. It is not, nor is it intended to be, legal advice and you should not rely upon it as more specificity in a consultation may reveal facts or other information which could change the result. You should consult an attorney for legal advice addressed to your individual situation.

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Answered on 5/01/10, 1:11 pm


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