Summary of Policy
How To Beat Prostate Cancer appreciates the generosity of its donors and aims to responsibly steward the gifts it receives. This policy outlines the principles, processes, and guidelines governing the acceptance of gifts to ensure alignment with the organization’s mission, legal requirements, and operational capacity.
Purpose: The policy ensures that gifts are received in a manner consistent with the Internal Revenue Code, minimize potential liabilities, and are in the best interests of the organization. It aims to:
- Ensure tax-deductible gifts do not jeopardize tax-exempt status.
- Minimize liabilities and administrative burdens.
- Ensure gifts align with the organization’s mission and investment policies.
Guiding Principles:
- Support of Mission: All gifts must support the organization’s mission to end prostate cancer and aid those impacted.
- Reputation and Core Values: The organization will not accept gifts that could harm its reputation or conflict with its core values.
- Philanthropic Intent: Gifts should be given with the intent of philanthropy, with no expectation of benefits or influence over the organization’s activities.
- Undue Burden: Gifts should not impose unreasonable financial, legal, or administrative burdens on the organization.
- Equal Opportunity: Gifts must not be discriminatory or in conflict with the organization’s non-discrimination policy.
Guiding principles of the policy
This policy shall be implemented and overseen by the Chief Development Officer, as set forth in further detail below. Gifts to How To Beat Prostate Cancer will be determined to be acceptable based on the following principles:
- Support of Mission: All gifts must support the organization’s mission to end prostate cancer and aid those impacted.
- Reputation and Core Values: The organization will not accept gifts that could harm its reputation or conflict with its core values.
- Philanthropic Intent: Gifts should be given with the intent of philanthropy, with no expectation of benefits or influence over the organization’s activities.
- Undue Burden: Gifts should not impose unreasonable financial, legal, or administrative burdens on the organization.
- Equal Opportunity: Gifts must not be discriminatory or in conflict with the organization’s non-discrimination policy.
How To Beat Prostate Cancer does not provide personal legal, financial, or other professional advice to donors or prospective donors. Donors and prospective donors are strongly urged to seek the assistance of their own professional advisors in matters relating to their gifts and the resulting tax and estate planning consequences. How To Beat Prostate Cancer will seek the advice of legal counsel in matters relating to the acceptance of gifts when deemed appropriate.
Gift acceptance
The organization accepts various types of gifts, including:
- Cash Donations: Through check, credit/debit cards, cryptocurrencies, Venmo, or online payment methods.
- Professional Services: Donations of services such as event marketing or website development.
- Pledges: Signed donation pledge agreements.
- Securities: Publicly traded and closely held securities.
- Bequests: Wills, life insurance policies, and retirement plans naming the organization as a beneficiary.
- Charitable Trusts: Charitable remainder and lead trusts.
- Life Insurance: Designated as beneficiary and irrevocable owner.
Gifts accepted subject to prior review
Certain forms of gifts or donated properties may be subject to review prior to acceptance per the Chief Development Officer. Examples of gifts subject to prior review include, but are not limited to:
- Tangible Personal Property. The Development Team will evaluate and determine whether to accept any gifts of tangible personal property (including an automobile donation)
- Life Insurance. Must be irrevocably owned by the organization.
- Real Estate. All gifts of real estate are subject to review by the Development Team. Conditions of real estate include covenants, restrictions, easements, carrying costs (including insurance, property taxes, mortgages, notes, or the like) or maintenance expenses associated with the property.
Restrictions on gifts
The organization reserves the right to refuse gifts that:
- Violate its mission or tax-exempt status.
- Are too difficult or expensive to administer.
- Have unreasonable conditions or are outside the organization’s mission.
- Could expose the organization to liability, adverse publicity, or conflicts of interest.
Gift policy review
The Development Team will periodically review the gift acceptance policy and consult legal counsel when necessary to ensure compliance and address concerns.