Legal Question in Business Law in Illinois

Re: Donations

IF someone collects money for a charitable purpose in excess of $4,000, they are subject to the Illinois Charitable Trusts Act. In relevant part:

This Act applies to any and all trustees, as defined in Section

3, holding property of a value in excess of $4,000.

Sec. 3. "Trustee" means any person, individual, group of individuals,

association, corporation, not-for-profit corporation, estate

representative, or other legal entity holding property for or solicited

for any charitable purpose; or any chief operating officer, director,

executive director or owner of a corporation soliciting or holding

property for a charitable purpose.

So, if your collection will result in these amounts, you should consult an attorney about the requirements.

Our comments are based on treating your question as a hypothetical. Accordingly, our comments could be substantially and materially different were we advised of all of the relevant facts and circumstances. Our comments are by necessity general in nature, and should not be relied upon in taking or forgoing action in your circumstances without retaining an attorney. In order to fully explore your legal matter, you should meet with us or another attorney and bring to any such meeting all relevant documents and correspondence, and any other relevant facts.

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As you are aware, in Illinois there are various deadlines for filing a complaint, filing an answer to a complaint, or taking other action in order to preserve your legal rights, and avoid a complete loss of those rights. You should retain counsel immediately in order to be fully advised of your rights, and to be fully informed of the applicable time period within which those rights must be asserted. If you were to delay in doing so, it might result in your potential cause of action being forever barred.