Council for Life shall execute no planned giving agreement without the advice of legal counsel. Prospective donors shall be strongly encouraged to seek their own legal and/or tax counsel in matters relating to their charitable gifts, taxes, and estate plans.
To protect the interests of Council for Life (hereinafter referred to as “the ORGANIZATION”) and the persons and entities who support its causes, these policies are designed to assure that all gifts to, or for the use of, charitable causes are structured to provide maximum benefit to all parties involved.
The goal of this policy is to encourage giving to the ORGANIZATION without encumbering the ORGANIZATION with gifts that cost rather than benefit the ORGANIZATION. The goal is also to avoid gifts that the donor restricts in a manner inconsistent with the goals of the ORGANIZATION.
To facilitate the receipts of gifts and bequests, the ORGANIZATION must be capable of responding quickly and in the affirmative where possible to all gifts offered by prospective donors. Unless stated otherwise, the Board of Directors intends that these policies apply to all gifts.
I. Gifts of:
B. Publicly Traded Securities
The ORGANIZATION shall accept publicly traded securities. The donor may anticipate that the ORGANIZATION may immediately sell such securities.
C. Closely-Held Securities
The ORGANIZATION’S Board of Directors may only accept closely-held securities upon written approval. The Board of Directors will review these securities using the following criteria:
D. Real Property
The Board of Directors must approve in writing all gifts of real estate in advance of accepting the gift.
E. Tangible Personal Property
F. Other Property
Other property of any description including mortgages, notes, copyrights, royalties, easements, whether real or personal, shall only be accepted by further action of the Board of Directors or persons duly acting on its behalf.
II. Deferred Gifts
B. Life Estate Gifts
C. Gifts of Life Insurance
III. Designated Gifts Establishing Designated Accounts
A. The Board of Directors will determine what designated accounts may be established.
B. Disbursing Designated Funds
C. Notice to Donors – The ORGANIZATION shall include in fund raising, solicitation materials and donor receipts the following statement:
“All donations are subject to Council for Life’s Gift Acceptance Policy, available on the Council for Life website. The use of any funds received in excess of our goals for the listed beneficiaries will be approved by the Board of Directors in accordance with this Policy.”
IV. No finders fee or commission shall be paid to anyone as consideration for directing a gift to the ORGANIZATION.