Achievekids Gift Acceptance Policies and Guidelines

Agency Mission
Achievekids is a non-profit organization that helps youth with complex disabilities find their full potential through an array of integrated mental health and special education services.

Purpose of Policies and Guidelines
The Board of Directors of Achievekids and its staff and volunteers solicit current and deferred gifts from individuals, corporations and foundations to secure the future growth and mission of Achievekids. It is the purpose of these policies and guidelines to govern the acceptance of gifts by Achievekids and to provide guidance to prospective donors and their advisors when making gifts to the agency. The provisions of these policies shall apply to all gifts received by Achievekids for any of its programs or services.

Gift Types
The types of gifts that Achievekids accepts include:

  • Unrestricted (funds go towards the General Fund)
  • Restricted (funds go towards a specific program or purpose)
  • Honor and Memorial
  • Endowment Fund
  • Planned Gifts
  • In-kind Gifts

Gift Acceptance
Achievekids accepts unrestricted gifts and gifts for specific programs and purposes, provided that such gifts are consistent with its stated mission, purposes and priorities. Achievekids may not accept gifts that are too restrictive. All final decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Gift Acceptance Committee of Achievekids.

Endowment Fund
The Achievekids Endowment Fund is established to provide a permanent source of funding for the agency. Funds may be placed in the Endowment Fund by donor designation or Board of Directors designation.

Planned Gifts
The Achievekids Planned Giving Program encompasses all types of gifts whose benefits do not fully accrue to the agency until some future time (such as the death of the donor or other income beneficiaries, or the expiration of a predetermined period of time). The types of planned giving opportunities offered by the agency include:

  • Bequests by Will or Trust
  • Life Insurance Beneficiary Designations
  • Retirement Plan Beneficiary Designations
  • Charitable Remainder Unitrust (Achievekids will not accept an appointment as Trustee)
  • Charitable Remainder Annuity Trust (Achievekids will not accept an appointment as Trustee)
  • Charitable Lead Trust (Achievekids will not accept an appointment as Trustee)

Fund for the Future
Unrestricted and non-designated donations received from a bequest or for an established Honor or Memorial Fund will be put into the Fund for the Future. Income generated from the Fund for the Future will be available for operations. The principal of the Fund for the Future can be used only in case of extraordinary need as determined by a 2/3 vote of the full Board of Directors, in person or by proxy, at two successive meetings.

Gift Annuities
At the present time, Achievekids does not issue charitable gift annuities. It reserves the right to review or change this policy at a future date.

Contingencies
If an accepted gift for a specific program or purpose can no longer be used as originally intended, due to a discontinued program or similar circumstance, the funds will be applied to a program with similar objectives or, if not possible, to the General Fund.

Gift Acceptance Committee
The Gift Acceptance Committee will be charged to ensure that gifts received are consistent with these policies and that they are in the best interest of the agency.
The Gift Acceptance Committee shall consist of:

  • The Executive Director
  • The Director of Development
  • The Director of Finance
  • The President of the Board of Directors
  • The Fundraising Committee Chair

Gift Review
Gifts received in the following forms can be accepted by appropriate staff or Board of Directors member and will not require prior review and approval by the Gift Acceptance Committee:

  • Cash or cash equivalents
  • Checks
  • Marketable securities
  • In-kind gifts of personal property for the agency's offices or programs

Gifts that require review or approval by the Gift Acceptance Committee include:

  • Tangible property that is not readily marketable
  • Real estate
  • Closely-held and S corporation stock
  • Partnership interests
  • Life Insurance
  • Accounts receivable (gifts of loans, notes, mortgages, etc.)
  • Gifts whose structure fall outside the ordinary purposes, bylaws and procedures of the agency

Gifts Declined
Achievekids reserves the right to refuse any gift that it believes is not in the best interest of the agency. If a gift is not accepted, agency staff will contact the prospective donor promptly.

Acknowledgement
Accepted gifts will be acknowledged by staff in accordance with federal regulations. All donors will be sent a “thank you” letter. In addition, “Honor” and “Memorial” gifts will be acknowledged with a second letter that will be sent to the person being honored, the family of the deceased or other donor designee.

Donors will be acknowledged in Achievekids publications such as the Annual Report. In-kind gifts will be acknowledged in a separate section from cash gifts.

Appraisals
It shall be the responsibility of the donor to secure an appraisal (where required) and independent legal, or other professional, counsel for all gifts made to Achievekids at the donor's expense.

Valuation
Achievekids shall record a gift received by Achievekids at its valuation for gift purposes on the date of the gift.

Federal tax law generally allows individual donors who give in-kind (non-cash) gifts to claim a charitable contribution deduction for the fair market value of the gift. Numerous exceptions apply. The IRS Publication 526 titled “Charitable Contributions” and Publication 561 titled “Determining the Value of Donated Property” are informative in determining whether to claim a tax deduction.

Use of Professional Advisors
Achievekids may seek the advice of legal counsel in matters relating to acceptance of gifts where appropriate.

Conflict of Interest
All prospective donors shall be strongly urged to seek the assistance of personal legal and financial advisors in matters relating to their gifts and the resulting tax and estate planning consequences. Achievekids will comply with the "Model Standards of Practice for the Charitable Gift Planner" and "Donor Bill of Rights" shown as attachments to this document.

Changes to Policies
These policies and guidelines have been reviewed and accepted by the Board of Directors of Achievekids. The Board of Directors must approve any material changes to or deviations from these policies.

Approved on August 12, 2003. Addition of Fund for the Future added on January 26, 2005.

Attachments
1. Model Standards of Practice for the Charitable Gift Planner
2. Donor Bill of Rights