Description
Clear gift acceptance policies and agreements take on new meanings in the age of COVID. They can fulfill the traditional role of protecting a charity from accepting a gift that will cost the charity far more than it is worth, and from personally insulting a potential donor whose collection of beer bottle caps you don't really want. They can also protect the charity when the purpose is no longer legal or practical. In the age of COVID, they may also give the donor some comfort that the pledge is not enforceable if the organization goes out of business before the gift is finalized. This webinar will explore the outlines of good gift acceptance policies and agreements and the considerations that should go into creating them for your organization.
If a donor wants to give you something other than cash or publicly traded securities, how should your charity react? Good gift acceptance policies will provide guidelines for handling the unusual gift, such as real estate, S corporation stock, and personal property, including collections. They can provide guidelines on the donor-restrictions that you will not accept. They can also give guidelines on whose gift you want to accept, especially when the donor wants naming rights for a new building or program. Do you really want a gift from a reputed mob boss?
We will also deal with gifts from a donor's family foundation, donor-advised fund (DAF), or IRA. What should you be considering in connection with those gifts?
This webinar will discuss the important issues you should consider in delegating responsibility for performing "due diligence" on unusual gifts you are willing to accept, and providing a review board to make final decisions in circumstances that may justify a variance.
Once you have decided to accept a gift, do you need a specific gift agreement if the gift is restricted in any way? What clauses should be included to provide the right to change the purpose if it becomes illegal or impractical? How do you deal with naming issues? Who has the right to enforce restrictions?
Nonprofit Issues® editor Don Kramer will be joined as co-presenter by Lise Twiford, a fundraiser with more than 30 years of experience who is now Director of Development at Germantown Friends School in Philadelphia.
Once you have purchased this webinar, you will be emailed the link and password to access the video. The login credentials will go to the email that you list when you checkout. If you have any questions, please contact PANO’s Administrative Coordinator, Casey Colsher, at casey@pano.org or 717-265-9387.
