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Gift Acceptance Policy

Sanctuary Village Gift Acceptance Policies and Guidelines Summary:

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I. Purpose
Sanctuary Village (SV) is a 501(c)(3) nonprofit that accepts gifts from individuals, corporations, and foundations to support its mission. These policies govern the acceptance of gifts and provide guidance to donors.

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II. General Guidelines
SV reports gifts when assets are irrevocably transferred. Pledges are recognized when documented, but verbal pledges do not count. Gift income excludes contract revenues, investment earnings, and certain event proceeds.

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III. Tax Compliance & Donor Responsibility
SV complies with tax laws and ensures donors do not receive improper tax benefits. Donors are acknowledged within 30 days, and SV keeps donor information confidential. Donors may remain anonymous upon request.

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IV. Legal Counsel
SV may seek legal counsel for complex gifts, including closely held stock, trusts, or transactions involving conflicts of interest.

 

V. Conflict of Interest
SV encourages donors to consult their legal and financial advisors and complies with the National Committee on Planned Giving standards.

 

VI. Restrictions on Gifts
SV accepts unrestricted or restricted gifts, provided they align with its mission. The Board decides on gift restrictions. SV does not accept contributions for specific grantee organizations.

 

VII. Endowments
Endowments are considered case-by-case, typically supporting general purposes, with a minimum funding of $25,000. The Board governs their creation and management.

 

VIII. Types of Gifts
SV accepts various gift types, including:

  • Cash, tangible property, securities, real estate, and life insurance.

  • Charitable gift annuities, remainder trusts, and bequests.

  • Gifts of oil, gas, mineral interests, bargain sales, and more.

 

Each gift type has specific criteria, such as asset liquidity, marketability, and environmental assessments for real estate. Gifts of closely held securities, real estate, or illiquid assets may require legal and professional reviews.

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IX. Gifts from Donor-Advised Funds & Private Foundations
SV accepts gifts from donor-advised funds and private foundations, but acknowledges contributions with benefits differently. Contributions from donor-advised funds are applied to outstanding pledges unless otherwise specified.

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X. Miscellaneous Provisions

  • Donors are responsible for securing appraisals and legal counsel.

  • SV will file necessary IRS forms for asset sales and acknowledgements.

  • The Board is responsible for gift acknowledgment and compliance with federal tax laws.
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XI. Changes to Policies
The Board must approve any changes to these policies, which are reviewed annually.

These policies ensure that gifts align with SV’s mission, comply with legal requirements, and are managed responsibly.

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If you would like a copy of the complete policy please send your request to: Donations@SanctuaryVillage.net.

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