Gifts to Charitable Organizations
The Attorney General and Inspector General have been clear that gifts, grants, and contributions made by State public authorities to charitable organizations be within the core mission of the State authority. Now it appears that a number of IDAs are increasingly providing grants to private and not-for-profit entities… and, in some instances, the grants may be well outside the intended mission of the granting IDA. If this proves to be the case, it’s likely that the ABO will wade in and seek to reaffirm the limitations on an IDA’s beneficence. More to come.