Gift Acceptance Policy
Making It Happen, Inc. solicits and accepts donations with the understanding that donations received are the sole property of Making It Happen, Inc., and accepts gifts for purposes that will help the organization further and carry out its mission.
Making It Happen, 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, and any desired Gift Agreements. The following policies and guidelines govern acceptance of gifts made to Making It Happen, Inc. for the benefit of any of its operations, programs, or services.
Use of Legal Counsel --
Making It Happen, Inc. will seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate. Review by counsel is recommended for:
A. Gifts of securities that are subject to restrictions or buy-sell agreements.
B. Documents naming Making It Happen, Inc. as trustee or requiring Making It Happen, Inc. to act in any fiduciary capacity.
C. Gifts requiring Making It Happen, Inc. to assume financial or other obligations.
D. Transactions with potential conflicts of interest.
E. Gifts of property which may be subject to environmental or other regulatory restrictions.
Restrictions on Gifts --
Making It Happen, Inc. will not accept gifts that (a) would result in Making It Happen, Inc. violating its corporate charter, (b) would result in Making It Happen, Inc. losing its status as an IRS § 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 Making It Happen, Inc. or (e) are for purposes outside Making It Happen, Inc.’s mission. Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Board of Directors, in consultation with the Board President.
Gifts Generally Accepted Without Review --
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Cash.
Cash gifts are acceptable in any form, including by check, money order, credit card, or on-line. Donors wishing to make a gift by credit card must provide the card type (e.g., Visa, MasterCard, American Express, etc.), card number, expiration date, and name and address of the card holder as it appears on the credit card.
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Marketable Securities.
Marketable securities may be transferred electronically to an account maintained at one or more brokerage firms or delivered physically with the transferror's endorsement or signed stock power (with appropriate signature guarantees) attached. All marketable securities will be sold promptly upon receipt unless otherwise directed by Making It Happen, Inc.’s Investment Committee. 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 Board of Directors.
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Bequests and Beneficiary Designations under Revocable Trusts, Life Insurance Policies, Commercial Annuities and Retirement Plans.
Donors are encouraged to make bequests to Making It Happen, Inc. under their wills, and to name Making It Happen, Inc. as the beneficiary under trusts, life insurance policies, commercial annuities and retirement plans.
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Charitable Remainder Trusts.
Making It Happen, Inc. will accept designation as a remainder beneficiary of charitable remainder trusts.
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Charitable Lead Trusts.
Making It Happen, Inc. will accept designation as an income beneficiary of charitable lead trusts.
Gifts Accepted 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:
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Cash with Restrictions.
The Board of Directors shall review and determine whether to accept any gifts of cash with restrictions, constraints, or contingencies placed on the use of the funds by the donor, unless the cash was solicited during an official fundraising campaign where the intended use of the funds is explicitly stated by Making It Happen, Inc. Donors should express their wishes in a written Gift Agreement that shall be voted on by the Board of Directors and signed by the Treasurer.
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Tangible Personal Property.
The Board of Directors 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?
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Life Insurance.
Making It Happen, Inc. will accept gifts of life insurance where Making It Happen, 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.
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Real Estate.
All gifts of real estate are subject to review by the Board of Directors. Prior to acceptance of any gift of real estate other than a personal residence, Making It Happen, 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?