Gift Acceptance Policy for Kids Wish Network
Kids Wish Network (KWN) solicits and accepts gifts for purposes that will help the organization further and fulfill its mission. Kids Wish Network 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 Kids Wish Network for the benefit of any of its operations, programs or services.
Acceptance of any contribution, gift or grant is at the discretion of Kids Wish Network. KWN will not accept any gift unless it can be used or expended consistently with the purpose and mission of the Charity.
Kids Wish Network will seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate.
Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Executive Committee, in consultation with the Executive Director.
- Gifts of securities that are subject to restrictions or buy-sell agreements
- Documents naming Kids Wish network as trustee or requiring KWN to act in any fiduciary capacity
- Gifts requiring KWN to assume financial or other obligations
- Gifts of property which may be subject to environmental or other regulatory restrictions
- Charitable Remainder Trust – Kids Wish Network will accept designation as a remainder beneficiary of charitable remainder trust upon review and approval by KWN Counsel and Board of Directors.
- Would result in KWN violating its corporate charter
- Would result in KWN losing its status as a 501(c)(3) non-profit organization
- Are too difficult or too expensive to administer in relation to their value
- Would result in an unacceptable consequences for KWN
- Are for any purpose outside KWN’s mission
Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Board of Directors, in consultation with the Executive Director.
Cash gifts are acceptable in any form, including check, money order, credit card or on-line. Donors wishing to make a gift by credit card must provide the card type (Visa, MasterCard, and Discover), card number, expiration date, and name of the card holder as it appears on the credit card.
A matching gift is a gift received from a donor’s employer, or its corporate foundation, matching the donor’s gift. Some matching gifts are dollar- for- dollar, while others are 2-to 1 or even more for each dollar given. The donor initiates theses gifts through the donor’s place of employment. The guidelines for an employer’s matching gift program can normally be found.
Marketable securities may be transferred electronically to an account maintained at a brokerage firm or delivered physically with the transferor’s endorsement or signed stock power (with appropriate signatures guarantees) attached. All marketable securities will be sold promptly upon receipt unless otherwise directed by KWN’s Executive Committee
In some cases marketable securities may be restricted, for example, by applicable securities laws and terms of the proposed gift; in such instances the decision whether to accept the restricted securities shall be made by the Executive Committee in consultation with the Executive Director.
Gifts of Savings Bonds
Savings bonds are likely the nation’s most widely held appreciated asset, and represents major assets that may have stopped growing and are collecting dust, just waiting to be put to good use. A tax-wise use for your appreciated savings bonds is to support a cause you care about…Kids Wish Network!
Bequest and Beneficiary Designations under Revocable Trust, Life Insurance Policies, Commercial Annuities and Retirement Plans
Donors are encouraged to make bequest to Kids Wish Network under their will and to name Kids Wish Network as the beneficiary under trusts, life insurance policies, commercial annuities and retirement plans.
Tangible Personal Property
The Executive Committee, in consultation with the Executive Director, shall review and determine whether to accept any gifts of tangible property in light of the following considerations: does the property further the organization’s mission? Are there any unacceptable restrictions imposed on the property? Are there any carrying costs for the property for which the organization may be responsible? Is the title/ provenance of the property clear?
Kids Wish Network will accept gifts of life insurance where Kids Wish Network is named as both beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay, before due, any future premiums payments owing on the policy
All gifts of real estate are subject to review by the Executive Committee. Prior to acceptance of any gift of real estate other than a personal residence, Kids Wish Network shall require an initial environmental review by a qualified environmental firm. In the event that the initial review reveals a potential problem, the organization may retain a qualified environmental firm to conduct an environmental audit.
Criteria for acceptance of gifts of real estate include:
- Is the property useful for the organization’s purpose?
- Is the property readily marketable?
- Are there covenants, conditions, restrictions, reservations, easements, encumbrances or other limitation associated with the property?
- Are there any carrying costs associated with the property?
- Does the environmental review or audit reflect that the property is damaged or otherwise requires remediation?
Donor Bill Of Rights
Philanthropy is based on voluntary action for the common good. It is a tradition of giving and sharing that is primary to the quality of life. To assure that philanthropy merits the respect and trust of the general public, and that donors and prospective donors can have full confidence in the not-for-profit organizations and causes they are asked to support, we declare that all donors have these rights:
- To be informed of the organization's mission, of the way the organization intends to use donated resources, and of its capacity to use donations effectively for their intended purposes.
- To be informed of the identity of those serving on the organization's governing board, and to expect the board to exercise prudent judgment in its stewardship responsibilities.
- To have access to the organization's most recent financial statements.
- To be assured their gifts will be used for the purposes for which they were given.
- To receive appropriate acknowledgment and recognition.
- To be assured that information about their donations is handled with respect and with confidentiality to the extent provided by law.
- To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature.
- To be informed whether those seeking donations are volunteers, employees of the organization or hired solicitors.
- To have the opportunity for their names to be deleted from mailing lists that an organization may intend to share.
- To feel free to ask questions when making a donation and to receive prompt, truthful and forthright answers.
The text of this statement in its entirety was developed by the American Association of Fund-Raising Counsel (AAFRC), Association for Healthcare Philanthropy (AHP), Council for Advancement and Support of Education (CASE), and the Association of Fundraising Professionals (AFP), and adopted in November 1993.