United Way of Anderson County Charity
Gift Acceptance Policies
The purpose of this statement is to articulate the policies of the Board of Directors of United Way of Anderson County (the “Charity”) concerning the acceptance of charitable gifts to the Charity. The Board designated committee will adopt appropriate procedures to implement these policies.
II. Responsibility to Donors
A. General. The Charity, its staff and representatives shall endeavor to assist donors in accomplishing their philanthropic objectives in providing support for the Charity.
B. Confidentiality. Information concerning all transactions between a donor and the Charity shall be held by the Charity in strict confidence and may be publicly disclosed only with the permission of the donor.
C. Anonymity. The Charity shall respect the wishes of donors wishing to support the Charity anonymously and will take reasonable steps to safeguard those donors’ identity.
D. Disclaimer. Each prospective donor to the Charity shall be informed that the Charity does not provide legal, tax or financial advice, and shall be encouraged to discuss all charitable gift planning decisions with his or her legal, financial or tax advisor before entering into any commitment to make a gift. to the Charity.
III. Gift Restrictions
A. Unrestricted Gifts. To provide the Charity with maximum flexibility in the pursuit of its mission, donors shall always be encouraged to make unrestricted gifts to the Charity.
B. Budgeted Programs or Facilities. The Charity may accept a gift that is restricted as to its use if the Charity’s approved budget for the year in which the gift is to be accepted includes proposed funding for the specific program, purpose or facility for which the restricted gift is made.
C. Other Restrictions. The Charity may accept a gift that is restricted as to a use if the Charity’s budget for the year in which the gift is accepted does not include funding for the restricted use of the gift, with the prior written approval of the CPO with the approval of the board of directors.
D. Variance Power. Unless otherwise approved in advance by the CPO, with the approval of the board of directors, the Charity will reserve the right, in the document that restricts the use of the gift, to broaden or alter the purpose of the gift should it be determined in the future that the original purpose of the gift no longer meets the needs or serves the mission of the Charity.
IV. Donor Recognition
A. General. The Board of Directors, upon recommendation of its designated committee, may establish criteria for the recognition and honoring of a donor with certain honors or benefits based on various giving levels achieved by a donor and the type of gift. These honors or benefits may include the listing of the donor’s name on a roll or plaque of significant donors or the opportunity to receive invitations to donor recognition events.
B. Buildings and Other Facilities. Except in the case of naming opportunities which appear on a schedule of naming opportunities approved by the Board of Directors in the context of a capital campaign, the development staff of the Charity shall make no commitments to a donor concerning the naming of buildings or other facilities without the approval of the Board of Directors upon recommendation of the CPO.
V. Fiduciary Relationships
A. General. Unless approved in advance by the CPO and/or Chief Financial Officer and the Board of Directors of the Charity, the Charity will not agree to serve as executor of a decedent’s estate or as trustee of a living trust or other trust intended to serve as a person’s primary estate planning document.
B. Trusteeship. The Charity may serve as trustee of trusts to maintain its gift annuity reserve accounts, as required by relevant state insurance law, in connection with the Charity’s gift annuity program. The Charity may serve as trustee of charitable remainder trusts, provided that no less than 50% of the remainder interest in the trust is irrevocably dedicated to the Charity, and the charitable remainder trusts meet the minimum standards established from time to time by the gift planning procedures of the Charity. The Charity may serve as trustee of trusts only in circumstances in which its investment authority as trustee is unrestricted. The Charity will not serve as co-trustee of a trust.
VI. Commitment of Charity Assets
A. Bargain Sale. Commitment of funds of the Charity in a bargain sale transaction to acquire assets from a donor shall require the prior written approval of the Chief Financial Officer and the CPO. Such approval shall generally be restricted to situations in which the asset to be acquired is one which will be used by the Charity in its program or which can be readily disposed of for cash within a reasonable time.
B. Gift Annuities. The Charity may in its discretion issue charitable gift annuities to donors, in exchange for their contributions, using annuity rates published by the American Council on Gift Annuities.
C. Partnership and Other Liabilities. The Charity will not accept interests in partnerships or other investment entities exposing the Charity to liability, including the obligation to provide capital contributions or other funding for the investment, without adequate indemnity from the donor to fulfill those obligations.
D. Real Estate. While the Charity encourages gifts of real estate, potential liability of the Charity arising from real estate should be minimized pursuant to procedures to be adopted by the Board designated committee.
VII. Reporting and Valuation Standards
A. Reporting. For campaign and other reporting purposes, the Charity shall use guidelines for reporting and counting campaigns in accordance with industry “best practices and standards.”
B. Valuation of Planned Gifts. To evaluate the Charity’s planned giving program and to compare the relative value of various planned gift approaches, the Charity shall utilize the National Committee on Planned Giving Valuation Standards for Charitable Planned Gifts.
VIII. Ethical Standards
The Charity is committed to the highest ethical standards. Development staff at all levels of the organization shall adhere to the Model Standards of Practice for the Charitable Gift Planner adopted by the National Committee on Planned Giving.
A. Staff. Implementation of these policies is delegated to the CPO, of the Charity, who shall be responsible for oversight of the acceptance of all gifts by the Charity.
B. Designated Committee. The Board of Directors shall delegate to its Designated Committee the responsibility of approving Gift Planning and Acceptance Procedures to implement these policies. The CPO, who shall be an ex officio member of that committee, may from time to time propose to the committee revisions to the procedures.
X. Approval of Exceptions
Acceptance of gifts to the Charity in a manner that is in any way inconsistent with this statement of policy must be approved in writing by the CPO, who shall report such exceptions to the Board of Directors at its next regular meeting.
XI. Periodic Review
A. General. A committee of the Board of Directors, and of which the CPO shall be a member, shall periodically (but no less frequently than every five years) review these policies to ensure that they continue to accurately describe the policies of the Charity with respect to acceptance of charitable gifts, and shall propose to the full Board of Directors for adoption those revisions that the Committee shall determine to be necessary or appropriate in order for the Statement of Policy to accurately reflect the policies of the Charity.
B. Specified Review. These policies shall be reviewed and ratified by the Board of Directors each time the Board determines that the Charity will embark on a capital or other fundraising campaign. These policies shall also be reviewed upon the enactment or promulgation of legislation or regulatory rules affecting fundraising and gift acceptance by the Charity, to assure continued compliance by the Charity with the legislation and rules.