[ORGANIZATION NAME] GIFT ACCEPTANCE POLICY Adopted by the [Board of Directors / Vestry / Session / Board of Trustees] on [Date]. Last reviewed: [Date]. =============================================================================== 1. PURPOSE =============================================================================== [Organization Name] welcomes gifts that advance its mission. This policy sets out which gifts [Organization Name] will accept outright, which it will review before accepting, and which it will not accept, so that staff and volunteers can respond to a donor consistently and the [Board] can decline a gift without it becoming personal. A gift is accepted only when it furthers the mission and does not expose [Organization Name] to undue cost, liability, or restrictions it cannot honor. Nothing in this policy obligates [Organization Name] to accept any particular gift. =============================================================================== 2. GIFTS ACCEPTED OUTRIGHT (no prior review needed) =============================================================================== The following gifts may be accepted by [staff / the treasurer] without prior review by the [Board / Gift Acceptance Committee]: - CASH AND CASH EQUIVALENTS. Currency, checks, online and card gifts, ACH, and payroll-deduction gifts payable to [Organization Name]. - PUBLICLY TRADED SECURITIES. Stocks, bonds, and mutual-fund shares traded on a public exchange. [Organization Name]'s policy is to SELL donated securities promptly upon receipt rather than hold them, unless the [Board] decides otherwise. Securities are delivered to [Organization Name]'s brokerage account at [brokerage / firm name]. =============================================================================== 3. GIFTS REVIEWED BEFORE ACCEPTANCE =============================================================================== The following gifts must be reviewed and approved by the [Gift Acceptance Committee / Board / Treasurer] BEFORE [Organization Name] agrees to accept them. The reviewer weighs the gift's value to the mission against its cost, risk, and any conditions attached. - REAL ESTATE. Reviewed for marketability, mortgages or liens, carrying costs (taxes, insurance, maintenance), and ENVIRONMENTAL RISK. [Organization Name] may require an environmental assessment at the donor's expense before accepting any real property. - NON-CASH / IN-KIND GIFTS (tangible personal property). Equipment, vehicles, inventory, collectibles, and similar property. Reviewed for whether the item can be used in the mission or readily sold, and for any cost to store, insure, transport, or dispose of it. [Organization Name] does NOT appraise or assign a value to donated property — see Section 6. - RESTRICTED GIFTS. A gift the donor limits to a specific purpose, program, or time. Accepted only if the restriction fits the mission and [Organization Name] can actually carry it out and track it; gifts that are too narrow, impractical, or off-mission are declined or renegotiated with the donor. Accepted restricted gifts are tracked separately as restricted funds. - PLANNED / DEFERRED GIFTS. Bequests, charitable gift annuities, charitable remainder trusts, retirement-plan and life-insurance beneficiary designations. Reviewed with legal/tax counsel where appropriate (Section 5). - CLOSELY HELD OR NON-PUBLICLY-TRADED SECURITIES, partnership interests, and other illiquid assets. Reviewed for marketability and any liability before acceptance. =============================================================================== 4. GIFTS [ORGANIZATION NAME] WILL NOT ACCEPT =============================================================================== [Organization Name] will generally decline a gift that: - carries conditions [Organization Name] cannot or will not meet, or that direct the gift away from its mission; - would, or could, expose [Organization Name] to legal liability, financial loss, or damage to its reputation; - involves real estate or property with known environmental problems or unclear title; - is too costly to keep, store, insure, or dispose of relative to its value; - requires [Organization Name] to take on debt or ongoing obligations it does not wish to assume; or - is inconsistent with [Organization Name]'s values or [statement of faith / mission]. =============================================================================== 5. WHO DECIDES, AND THE USE OF LEGAL/TAX COUNSEL =============================================================================== - Gifts in Section 2 may be accepted by [staff / the treasurer]. - Gifts in Section 3 are decided by the [Gift Acceptance Committee / Board / Treasurer], which may consult [Organization Name]'s legal or tax counsel. - [Organization Name] will seek the advice of legal counsel on, at minimum: gifts of real estate; gifts that may obligate [Organization Name] to a future commitment; planned gifts and trust or annuity arrangements; gifts with unusual conditions; and any gift where the cost or risk is unclear. - Donors are urged to consult their OWN independent legal and tax advisors. [Organization Name] does not provide legal or tax advice to donors and does not value their gifts for them. =============================================================================== 6. RECEIPTING AND VALUATION (the no-valuation rule) =============================================================================== [Organization Name] acknowledges every gift in writing. - For NON-CASH (in-kind) gifts, the receipt DESCRIBES the donated item but does NOT state a dollar value. The DONOR is responsible for determining the fair market value of donated property for their own tax records; the charity does not appraise it. - For a non-cash gift the donor values at more than $5,000, the donor generally must obtain a qualified appraisal and file IRS Form 8283, which [Organization Name] signs only to acknowledge RECEIPT of the item (not its value). - For gifts of $250 or more, the donor needs a contemporaneous written acknowledgment stating whether any goods or services were provided in return. This section governs gift INTAKE. For how to write the acknowledgment itself, use [Organization Name]'s donation-receipt and year-end statement templates. =============================================================================== 7. REVIEW OF THIS POLICY =============================================================================== The [Board] reviews this policy at least every [two] years and amends it as needed. ------------------------------------------------------------------------------- NOTES FOR CHURCHES ------------------------------------------------------------------------------- - A church that incorporates is a 501(c)(3), so the same gift-acceptance rules apply. Wherever this template says "[Board]," use your own body — vestry, session, elders, deacons, or board of trustees. - A gift a member earmarks for one specific individual (for example, routed through a benevolence fund for a named person) is generally NOT a deductible charitable gift and should not be acknowledged as one. The test is whether the church, or the donor, controls where the money goes. - A pledge of designated giving ("for the building fund") creates a restricted gift you must track and spend only on that purpose. Treat it under Section 3. ------------------------------------------------------------------------------- This is a general template, not legal or tax advice. Gift, property, and charitable rules vary by state and change over time — have your own attorney or tax advisor adapt this policy to [Organization Name]'s situation before the [Board] adopts it. IRS references for the valuation points above: - IRS Publication 526, Charitable Contributions: https://www.irs.gov/pub/irs-pdf/p526.pdf - IRS Publication 561, Determining the Value of Donated Property: https://www.irs.gov/pub/irs-pdf/p561.pdf