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FINAL 07/01/2017Gift Acceptance Policy for St. Marks Episcopal Church Purpose: The purpose of the gift acceptance policy is to ensure that donations accepted by St. Marks are in compliance with IRS

How to fill out gift acceptance policy for

How to fill out gift acceptance policy for

1. Start by including a clear and concise title for the policy, such as 'Gift Acceptance Policy'.
2. Provide an overview of the policy's purpose and importance in the introduction section.
3. Outline the scope of the policy, including the types of gifts covered and any exclusions.
4. Specify who is responsible for reviewing and approving gifts, such as the board of directors or a designated committee.
5. Include guidelines for accepting or declining gifts, considering factors like legality, ethics, and alignment with the organization's mission.
6. Provide a section on documentation and record-keeping requirements for gift acceptance.
7. Address conflicts of interest and potential risks associated with accepting certain types of gifts.
8. Clearly state any restrictions or conditions on gift acceptance, such as donation size limits or prohibited sources.
9. Include a process for acknowledging and recognizing donors.
10. Conclude the policy with a statement on periodic review and updates, emphasizing the need for ongoing compliance.
11. It's important to consult legal counsel or experts in nonprofit governance when developing the gift acceptance policy.

Who needs gift acceptance policy for?

1. Nonprofit organizations, charities, and foundations can benefit from having a gift acceptance policy.
2. Educational institutions, religious organizations, and healthcare organizations may also find a gift acceptance policy necessary.
3. Any organization that receives or intends to receive gifts, including monetary donations, assets, or other contributions, should have a gift acceptance policy in place.
4. Having a policy helps ensure that gifts are processed and evaluated consistently, reduces legal and ethical risks, and promotes transparency in the donation process.
5. It also provides guidance to staff, board members, and donors, ensuring a clear understanding of the organization's expectations and limitations regarding gift acceptance.

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