Sedona Unitarian Universalist Fellowship

Gift Acceptance Policy

Introduction

The following policy governs acceptance of gifts made for the benefit of SUUF’s operations, programs, or services.

SUUF urges prospective donors to seek the assistance of legal and financial advisors in matters relating to their gifts, including tax and estate planning consequences.

SUUF will not accept gifts that:

• result in SUFF violating its articles of incorporation or applicable state or federal laws and/or regulations,
• result in SUUF losing its status as a tax-exempt organization,
• are too difficult or too expensive to administer in relation to their value,
• result in any unacceptable consequences for SUUF including harm to its reputation, or
• are for purposes outside SUUF’s mission.

Acceptance of a gift other than cash, checks or marketable securities requires approval of SUUF’s Board of Trustees (Board). Board approval is also required for restricted gifts.

Restricted and Unrestricted Gifts

SUUF encourages its donors to make unrestricted gifts as unrestricted gifts provide flexibility to direct resources where they are most needed.

SUUF accepts restricted gifts as follows:

• Purpose-Restricted Gifts: SUUF will accept purpose restricted gifts when they support activities included in the annual budget or for purposes specified in a special campaign. The minimum amount for purpose restricted gifts is $5,000.
• Permanently Restricted Gifts: Gifts for endowment will be invested with the Fellowship’s endowment funds. The minimum amount for permanently restricted gifts is $5,000. Amounts will be paid out from the endowment fund in accordance the donor’s restrictions.

Types of Gifts

Checks shall be made payable to SUUF and shall be delivered to SUUF’s president or treasurer.

Securities

Marketable securities shall be transferred to SUUF’s brokerage account. All marketable securities for the operating budget or specific campaigns shall be sold upon receipt. SUUF will send the donor an acknowledgment of the gift valued based on proceeds received.

Securities for which there is no active market can be accepted subject to Board approval. Gifts must be reviewed prior to acceptance to determine that:

• there are no restrictions on the security that would prevent SUFF from ultimately converting those assets to cash,
• the security is marketable
• the security will not generate any undesirable tax or other financial consequences for the Fellowship, and
• the gift transaction does not involve tax or other financial planning in which SUUF would not wish to participate.

Real Estate

Prior to accepting a real estate donation, SUUF may require an initial environmental review to ensure the property has no environmental damage (e.g., mold, asbestos). If the initial review reveals a potential problem, SUUF shall retain a qualified inspection firm to conduct an environmental audit. The cost of an environmental audit shall generally be an expense of the donor. When appropriate, a title binder shall be obtained by SUUF prior to the acceptance of the real property gift. The cost of this title binder shall generally be an expense of the donor.

Criteria for acceptance of the property should include:

• Is the property useful for the purposes of the Fellowship?
• Is the property marketable?
• Are there any restrictions, reservations, easements, or other limitations    associated with the property?
• Are there carrying costs, which may include insurance, property taxes, mortgages, or notes, associated with the property?
• Does the environmental audit reflect that the property is not damaged?

Gifts of Tangible Property

Criteria for acceptance of the personal property should include:

• Does the property contribute to or further the mission of the Fellowship?
• Is the property marketable?
• Are there any undue restrictions on the use, display, or sale of the property?
• Are there any carrying costs for the property?

Unless otherwise agreed with the donor, the property will be sold as soon as practicable.

Legacy Gifts

• SUUF encourages its supporters to consider charitable gift annuities (CGA) during their lifetimes. The minimum for a CGA is $5,000. Such gifts can provide lifetime income, income tax deductions, and support the Fellowship.
• The acceptance of other planned gift instruments, such as Pooled Income Trusts, Charitable Remainder Trusts, and Charitable Lead Trusts are subject to the approval of the Board.
• Donors and supporters of SUUF are encouraged to make bequests under their wills and trusts.
• Donors and supporters of SUUF are encouraged to name the Fellowship as beneficiary or contingent beneficiary of their life insurance policies.

Gift Valuations

SUUF shall follow accepted guidelines for income recognition and the valuation of non-cash gifts that require specific methods of valuation for the protection of both the donor and SUUF. The valuation of non-cash gifts for tax purposes is the responsibility of the donor.

Stewardship

SUUF will be responsible for good stewardship toward its donors by following these guidelines:

• All gifts will be acknowledged within the required or reasonable time-period.
• Gifts to SUUF and accompanying correspondence will be considered confidential information, except for the publication of donor recognition lists. All donor requests for confidentiality will be honored except as may be required by law.

Approved at Board of Trustees’ Meeting held December 15, 2023.