Gift Acceptance Policy – February 2019

Assistance League of Northern Virginia – a chapter of Assistance League

[PDF version of the Gift Acceptance Policy.]

Definition

Assistance League of Northern Virginia, a nonprofit 501(c)(3) corporation, solicits and accepts gifts that are consistent with its mission and that support its programs. The following policy governs the acceptance of gifts by Assistance League of Northern Virginia and provides guidance to prospective donors and their advisors when making gifts to Assistance League of Northern Virginia.

Policy Statement

Mission Statement

The mission of Assistance League of Northern Virginia is volunteers transforming the lives of children through community programs.

Protection of Donors

Assistance League of Northern Virginia encourages all prospective donors to seek the assistance of appropriate legal and financial advisors in all matters related to their charitable gifts, including the resulting tax and estate planning consequences of such gifts. Assistance League of Northern Virginia will provide the donor with appropriate acknowledgments of gifts as required of the organization by federal or state law.

General Policy

Assistance League of Northern Virginia will accept unrestricted gifts, and gifts for specific programs and purposes, provided that such gifts are not inconsistent with its stated mission, purposes and priorities. Certain types of gifts will be accepted without review as specified below. All other types of gifts shall be reviewed by the Gift Acceptance Committee prior to acceptance. All final decisions on the acceptance, or refusal, of a gift shall be made by the Board.

Assistance League of Northern Virginia shall not accept gifts that:

  1. Violate the terms of Assistance League of Northern Virginia’s organizational documents;
  2. Would jeopardize Assistance League of Northern Virginia‘s status as an exempt organization under federal or state law;
  3. Are too difficult or expensive to administer;
  4. Are for purposes outside Assistance League of Northern Virginia’s mission; or contradict its values.
  5. Could damage the reputation of Assistance League of Northern Virginia.

 

Gift Acceptance Committee

The Gift Acceptance Committee shall consist of VP, Resource Development (Chairperson), the Treasurer, and 3 volunteers from the general membership. The Gift Acceptance Committee is charged with the responsibility of reviewing gifts specified below made to Assistance League of Northern Virginia, properly screening and accepting those gifts and making recommendations to the Board on gift acceptance issues when appropriate.

Gifts Generally Accepted Without Review

The following types of gifts will generally be accepted by Assistance League of Northern Virginia without review by the Gift Acceptance Committee:

  1. Cash. Cash gifts are acceptable in any form, including by check, money order, credit card, ACH transfer or online.
  2. Tangible Personal Property. Tangible personal property will be accepted provided such property consists of items that can be used by the programs of Assistance League of Northern Virginia.
  3. Bequests. Donors and supporters of Assistance League of Northern Virginia are encouraged to make bequests to Assistance League of Northern Virginia under their wills and trusts. The bequests will not be recorded as a gift until the gift is irrevocable.
  4. Life Insurance or Retirement Plan Beneficiary Designations. Donors and supporters of Assistance League of Northern Virginia are encouraged to name Assistance League of Northern Virginia as beneficiary or contingent beneficiary of their life insurance policies or retirement plans. Such designations shall not be recorded as a gift to the organization until the gift is irrevocable.

 

Gifts Subject to Review Prior to Acceptance

Certain forms of gifts or donated properties are subject to review by the Gift Acceptance Committee prior to acceptance. Examples of gifts subject to prior review include, but are not limited to:

  1. Other Tangible Personal Property. Gifts of tangible personal property (ex. car or truck) other than specified above shall be reviewed by the Gift Acceptance Committee prior to acceptance.
  2. Real Estate. All gifts of real estate are subject to review by the Gift Acceptance Committee.
  3. Unrestricted Marketable Securities, Closely-Held or Restricted Marketable Securities. Gifts of unrestricted marketable securities, closely-held or restricted marketable securities shall be reviewed prior to acceptance. If the Committee recommends acceptance, and the Board approves, any marketable securities shall be delivered physically with the transferor’s endorsement or signed stock power (with appropriate signature guarantees) attached. All marketable securities will be sold promptly upon receipt.
  4. All Other Types of Gifts. All other types of gifts not listed above shall be subject to review by the Gift Acceptance Committee prior to acceptance.

 

Timing for Receipt of Gifts

Assistance League of Northern Virginia will not accept any gifts without adequate time to perform due diligence on the gift prior to acceptance.

Restrictions on Gifts

Assistance League of Northern Virginia will accept gifts restricted for specific programs and purposes if such gifts are consistent with its stated mission, purposes and priorities. Gifts with nonstandard restrictions of any amount, and restricted gifts over the amount of $1,000 shall be reviewed by the Gift Acceptance Committee prior to acceptance. The organization will not accept gifts subject to restrictions if the restrictions violate the terms of the organization’s corporate charter, include a time restriction that cannot be met, are too difficult to administer or are for purposes outside the organization’s mission.

Use of Legal Counsel

Assistance League of Northern Virginia shall seek the advice of legal counsel in matters relating to the acceptance of gifts when deemed necessary and appropriate as determined by the Gift Acceptance Committee or the Board.

Review of Gift Acceptance Policy

This policy shall be reviewed annually by the Board of Assistance League of Northern Virginia.

 

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