The "Safeguarding Endowment Gifts Act" establishes legal protections for donors who impose restrictions on their contributions to charitable organizations through endowment agreements. The bill defines key terms such as "charitable organization," "donor," "donor-imposed restriction," and "endowment agreement," which clarify the roles and responsibilities of both donors and organizations. It mandates that charitable organizations must adhere to donor-imposed restrictions and outlines the process for donors or their legal representatives to file complaints if these restrictions are violated. Specifically, donors must provide written notification of any violations and may file a complaint within three years of discovering the breach.

Additionally, the bill allows charitable organizations to seek judicial declarations regarding their rights and duties under endowment agreements. If a court finds that a charitable organization has violated a donor-imposed restriction, it can order remedies that align with the charitable purposes of the agreement, but it cannot mandate the return of funds to the donor. The act is effective immediately upon passage and applies retroactively to endowment agreements made since January 1, 1975.