Purpose of the Policy
The purpose of the Policy is to govern the acceptance by the Foundation of lifetime gifts, pledges, bequests, and other planned gifts, and to provide guidance to prospective donors. The Policy applies to all proposed gifts for potential receipt by the Foundation.
All decisions to solicit and/or accept potential gifts will be made by the Foundation Board of Directors and at its discretion seek the advice of legal counsel in matters to gift acceptance.
Accepted Giving Sources
Cash – Currency (USD only), Check, Wire Transfers, or Electronic Payment Vehicle.
Publicly Traded Securities – The value of a gift of publicly traded securities will be determined by the value assigned at time of execution on the date of liquidation.
Non-marketable, Thinly Traded, or Closely Held Securities e.g. partnerships, limited partnerships, limited liability companies, S-Corp, C-Corp, and stock of entities will not be accepted.
Distributions from the following:
- Bequests Intentions – The foundation will accept and retain documentation of bequest intentions from wills and trusts, beneficiary arrangements from financial instruments (IRAs, 401(k)s, 403(b)s, transfers on death accounts, etc.)
- Charitable Remainder Trusts – CRATs (annuity trust) & CRUTs (unitrust).
- Charitable Lead Trusts
- Life Insurance Annuities
- Qualified and non-Qualified Retirement Plans
- Donor Advised Funds (DAFs)
Tangible Personal Property – e.g. Art work, automobiles, equipment, jewelry, etc. Proposed gifts of this nature must be approved by the Foundation Board prior to acceptance. The criteria for acceptance shall include:
- The proposed gift is related to the mission of the Foundation.
- Evaluation of the financial value of, and any potential liabilities associated with the proposed gift.
- Evaluation of the costs for receiving, maintaining, or liquidating the proposed gift (including costs of insurance, shipping, storage, care, and/or appraisals).
- Any restrictions on the use or sale of the proposed gift.
- It is the responsibility of the donor to determine the value of a gift of personal property for tax purposes. Internal revenue Service (IRS) Forms may apply.
- The gift acknowledgement issued to the donor for a gift of personal property will not show a value for the property. The receipt will reflect only a description of the property received.
Real Estate – Proposed gifts of real estate must be approved by the Foundation Board prior to acceptance. The criteria for acceptance shall include:
- The value of the proposed gift.
- Evaluation of the property and the marketability for liquidation within a six (6) month period.
- Any restriction, reservations, easements, or other limitations associated with the property are known and minimal.
- The appraisal/survey reflects that the property is sound and in acceptable condition for resale.
- The cost of obtaining necessary documents and fees associated with risk assessment and any/all EPA and environmental remediation studies; property taxes, maintenance, management and insurance appraisals, surveys, title reports and retaining legal council will be borne by the donor.
- Costs for carrying the property may too be considered with associated expenditures being known and deemed manageable e.g. profitability, insurance, property taxes, mortgages, or notes, and maintenance.
In-Kind Donations
Proposed gifts of this nature must be evaluated and approved by the Foundation Board prior to acceptance.
- Shall be limited to professional services rendered such as Legal counsel, marketing support, or IT assistance.
Virtual Currencies
Proposed gifts of this nature must be approved by the Foundation Board prior to acceptance. The criteria for acceptance shall include:
- Any such donation must be of a type which is transferable, have the availability of immediate liquidation, and the ability to settle for cash such asset through a cryptocurrency exchange by use of a platform acceptable to the Foundation.
Gift Entry Receipts
IRS regulations require that Foundation to issue a written receipt to each individual who makes a gift valued at $250 or greater. The foundation will provide donors with a gift receipt that is prepared in accordance with applicable government requirements.
All donors will receive personalized receipt and acknowledgement within 10 business days of receipt of the gift.
The Foundation must have at a minimum the following information to record a gift and issue a receipt:
- Name of the Donor(s)
- Official Address of the Donor(s)
- Date of the gift
- Description of the gift property
Donations to the Foundation are not refundable.
Ethical Compatibility
Whereas there is the potential for a conflict of interest, the acceptance of a potential gift should be measured against the following:
- Values—whether the acceptance of the gift compromises any of the core missions of the church and/or foundation.
- Compatibility—whether there is continuity between the intent of the donor and the use of the gift by the foundation.
- Public Relationships—whether acceptance of the gift could present a conflict and/or compromise in any manner with the stated missions of the church and/or foundation, or create a compromise to the future consideration of proposed gifts.
Gift Classification
Gifts accepted by the foundation will be align with the Purpose & Mission, and Intent statements defined in Sections 1 and 2 of the Foundation Bylaws. Accepted gifts will be identified by one of two (2) distinctions:
Unrestricted – Allocation/distribution of these funds (principle and/or investment income) is determined by the Foundation Board of Directors.
Restricted/New Endowment Formation: requires a minimum initial investment of $25,000 and two-thirds (2/3) Foundation Board membership approval. The donor shall provide a statement of purpose, and disbursement guidelines prior to Foundation Board approval and acceptance.
This page reflects DRAFT Rev VI of the Foundation Acceptance Policy dated August 9, 2026. For questions about a proposed gift or the policy, please contact the Foundation.