Gift Acceptance Policy of March, 2020
Summary
In the course of its regular fundraising activities, the Episcopal Church of Saints Andrew and Matthew will accept donations of money, real property, personal property, stock, and in-kind services. Having a gift acceptance policy in place is considered a “best practice”. The IRS Form 990 asks whether a nonprofit has a “gift acceptance policy” and requires nonprofits that respond “Yes” to complete Schedule M, as well as report any non-cash contributions/in-kind gifts.
Purpose
A written gift acceptance policy helps manage the expectations of donors (while treating them with respect) and also serves as guidance for vestry and staff members who are either on the asking, or receiving end of contributions.
A written policy that is adopted by the vestry will help expedite a process that otherwise might be delayed, and provides volunteers and staff with a consistent way to handle unanticipated and unusual situations.
Policy
- Donations will generally be accepted from individuals, partnerships, corporations, foundations, government agencies, or other entities, without limitations.
- Some gifts may lead to legal obligations that the nonprofit is not otherwise ready to handle. Gifts of real property may raise property tax issues; gifts of motor vehicles or boats may raise issues about disposal of hazardous waste or licensing issues. Donors are encouraged to seek professional advice prior to making a gift. The organization will not provide advice directly to the donor, avoiding a conflict of interest.
- For maximum financial transparency, the policy will be posted on the SsAM website, published in the Weekly Vision, and added to the organization policy manual.
- The Episcopal Church of Saints Andrew and Matthew will form a “Gift Acceptance Committee” consisting of vestry and property committee members with appropriate expertise and experience to evaluate gifts and decide whether or not to accept the gift.
- The gift, accepted or not, will be tracked: name of donor, description of gift, date gift is offered.
- The gift acceptance policy will be evaluated annually to insure compliance.
Click here to see the page about Financial Contributions on this website.
