“The purpose of this gift acceptance policy is to govern the acceptance of gifts and to provide guidance to donors and their professional in completing gifts.”
Kindah Foundation, Inc., solicits and accepts gifts that are consistent with its mission and that support its core programs, as well as special projects. Acceptance of any contribution, gift or grant is at the discretion of Kindah Foundation, Inc., Kindah Foundation, Inc., will not accept any gift unless it can be used or expended consistently with the purpose and mission of Kindah Foundation, Inc.
No irrevocable gift, whether outright or life-income in character, will be accepted if under any reasonable set of circumstances the gift would jeopardize the donor’s financial security.
Kindah Foundation, Inc., will provide acknowledgments to donors meeting IRS substantiation requirements for property received by the charity as a gift. However, except for gifts of cash and publicly traded securities, no value shall be ascribed to any receipt or other form of substantiation of a gift received by Kindah Foundation, Inc.
Kindah Foundation, Inc., will respect the intent of the donor relating to gifts for restricted purposes and those relating to the desire to remain anonymous. With respect to anonymous gifts, Kindah Foundation, Inc., will restrict information about the donor to only those staff members with a need to know. Kindah Foundation, Inc., will not compensate, whether through commissions, finders’ fees, or other means, any third party for directing a gift or a donor to Kindah Foundation, Inc.
Kindah Foundation, Inc., urges all prospective donors to seek the assistance of personal legal and financial advisors in matters relating to their gifts, including the resulting tax and estate planning consequences. The following policies and guidelines govern acceptance of gifts made to Kindah Foundation, Inc., for the benefit of any of its operations, programs or services.
Use of Legal Counsel — Kindah Foundation, Inc., will seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate. Review by counsel is recommended for:
A. Gifts of securities that are subject to restrictions or buy-sell agreements.
B. Documents naming Kindah Foundation, Inc., as trustee or requiring Kindah Foundation, Inc., to act in any fiduciary capacity.
C. Gifts requiring Kindah Foundation, Inc., to assume financial or other obligations.
D. Transactions with potential conflicts of interest.
E. Gifts of property which may be subject to environmental or other regulatory restrictions.
Restrictions on Gifts — Kindah Foundation, Inc., will not accept gifts that (a) would result in Kindah Foundation, Inc., violating its corporate bylaws, article of incorporation, (b) would result in Kindah Foundation, Inc., losing its status as an IRC § 501(c)(3) not-for-profit organization, (c) are too difficult or too expensive to administer in relation to their value, (d) would result in any unacceptable consequences for Kindah Foundation, Inc., or (e) are for purposes outside Kindah Foundation’s mission. Decisions on the restrictive nature of a gift, and its acceptance or refusal shall be made by the Executive Committee, Treasurer in consultation with the Executive Director and President.
Donations and other forms of support will generally be accepted from individuals, partnerships, corporations, foundations, government agencies, or other entities, subject to the following limitations:
Gifts Generally Accepted Without Review —
Gifts Accepted Subject to Prior Review — Certain other gifts, real property, personal property, in-kind gifts, non-liquid securities, and contributions whose sources are not transparent or whose use is restricted in some manner, must be reviewed prior to acceptance due to the special obligations raised or liabilities they may pose for Kindah Foundation, Inc.
Examples of gifts subject to prior review include, but are not limited to:
Criteria for acceptance of gifts of real estate include: Is the property used for the organization’s purposes?
Is the property readily marketable?
Are there covenants, conditions, restrictions, reservations, easements, encumbrances or other limitations associated with the property?
Are there carrying costs (including insurance, property taxes, mortgages, notes, or the like) or maintenance expenses associated with the property?
Does the environmental review or audit reflect that the property is damaged or otherwise requires remediation?