The following policies and guidelines govern acceptance of gifts made to NADC Inc. for the benefit of any of its operations, programs or services.
- NADC Inc. solicits and accepts gifts that are consistent with its mission.
- Donations will generally be accepted from individuals, partnerships, corporations, foundations, government agencies, or other entities, without limitations.
- In the course of any type or form of fundraising activities, NADC Inc. will accept donations of money, real property, personal property, stock, and in-kind services.
- Certain types of gifts must be reviewed prior to acceptance due to the special liabilities they may pose for NADC Inc. solicits. Examples of gifts which will be subject to review include gifts of real property, gifts of personal property, and gifts of securities.
- NADC Inc. 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.
Use of Legal Counsel -- NADC Inc. will seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate. Review by the NADC Board of Directors is recommended for:
- Gifts of securities that are subject to restrictions or buy-sell agreements.
- Documents naming NADC Inc. as trustee or requiring NADC Inc. to act in any fiduciary capacity.
- Gifts requiring NADC Inc. to assume financial or other obligations.
- Transactions with potential conflicts of interest.
- Gifts of property which may be subject to environmental or other regulatory restrictions.
Restrictions on Gifts -- NADC Inc. will not accept gifts that (a) would result in NADC Inc. violating its corporate charter, (b) would result in NADC Inc. losing its status as an IRC § 501(c)(3) not-for-profit organization, (c) are too difficult or too expensive to administer in relation to their value, (d) would result in any unacceptable consequences for NADC Inc., or (e) are for purposes outside NADC’s mission. 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 Generally Accepted Without Review—
Cash. Cash gifts are acceptable in the form of cash, check, money order, but do not have the means to accept gift donations by credit card.
Marketable Securities. Marketable securities may be transferred electronically to an account maintained at one or more brokerage firms or delivered physically with the transferor's endorsement or signed stock power (with appropriate signature guarantees) attached. All marketable securities will be sold promptly upon receipt unless otherwise directed by the NADC Executive Director and the Board of Directors. In some cases marketable securities may be restricted, for example, by applicable securities laws, or the terms of the proposed gift; in such instances the decision whether to accept the restricted securities shall be made by the NADC Executive Director and/or Board of Directors.
Bequests and Beneficiary Designations under Revocable Trusts, Life Insurance Policies, Commercial Annuities and Retirement Plans Donors are encouraged to make bequests to NADC Inc. under their wills, and to name NADC Inc. as the beneficiary under trusts, life insurance policies, commercial annuities and retirement plans.
Charitable Remainder Trusts NADC Inc. will accept designation as a remainder beneficiary of charitable remainder trusts.
Charitable Lead Trusts NADC Inc. will accept designation as an income beneficiary of charitable lead trusts.
Gifts Accepted are subject to Prior Review -- certain forms of gifts or donated properties may be subject to review prior to acceptance. Examples of gifts subject to prior review include, but are not limited to:
Tangible Personal Property. The Executive Committee shall review and determine whether to accept any gifts of tangible personal property in light of the following considerations: does the property further the organization’s mission? Is the property marketable? 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
Life Insurance. NADC Inc. will accept gifts of life insurance where NADC Inc. is named as both beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay, before due, any future premium payments owing on the policy.
Real Estate. 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, NADC Inc. 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 purposes? Is the property readily marketable? Are there covenants, conditions, restrictions, reservations, easements, encumbrances or other limitations associated with the property? Are there carrying costs (including insurance, property taxes, mortgages, notes, or the like) or maintenance expenses associated with the property? Does the environmental review or audit reflect that the property is damaged or otherwise requires remediation?