The Gift Acceptance Procedure ensures that all gifts accepted by the non-profit agency further the mission or goals of the agency, do not conflict with the agency’s ethical values and principles, and are accepted in accordance with sound business and fiscal practices.
No gift will be accepted where there is no obvious charitable intent on the part of the donor. The greater the number of donors and the greater the number of transactions involved in a gift, the greater will be the caution about accepting the gift. The Board of Directors must review and approve the acceptance of gifts, which may require expenditure of funds by the agency at any time.
The Gift Acceptance Procedure applies to all gifts offered to the non-profit agency, including cash, pledges, securities, trusts, insurance policies, real estate, and other gifts-in-kind. (6 pages, 1,651 words)
All contributions should be recognized within 48 hours of receipt, and under no circumstances less than five working days of receipt of the gift. All gifts should also be recorded accurately and a weekly report issued to the Executive Director, senior staff, President of the Board of Directors, Board members, and all development volunteer leadership.
If the donor or some other person or persons retains or obtains a right, interest, or benefit in a gift, the Board of Directors must determine that the gift has adequate value to sustain that right, interest, or benefit, pay related expenses, and still provide a significant benefit to the agency. All property appraisals must be premised on the property being sold within a reasonable period to time, generally one year.
The Gift Acceptance Policy includes specific guidelines for each type of gift. For example, it tells you that in-kind gifts of property or services are to be valued by the donor and reported to the Executive Director and that if the in-kind valuation of the donor is suspect, the agency may request an independent appraisal.