The Nonprofit Gift Acceptance Policy guides employees and staff on what they can do with various types of gifts, including accepting or not accepting.
Nonprofits rarely have a Nonprofit Gift Acceptance Policy upon the foundation. They may focus on management, cash-related details, and staffing. When they're gifted something, they might not know how to handle it, especially if it comes with liabilities, additional expenses, or even strings attached. That's why having a Nonprofit Gift Acceptance Policy can help. The Nonprofit Gift Acceptance Policy outlines how the nonprofit will handle different types of gifts, including if the organization can accept them. The policy should also state what circumstances the nonprofit can take particular gifts and what to do with significant assets offered as a gift.
The primary goal of creating this document is to educate board members and employees. For example, if the document states that the nonprofit can't accept real estate gifts, no one can break that rule. Nonprofits are often gifted things incurring additional expenses. With this policy, they'll know how to handle such gifts and if they should accept them in the first place.
It's vital to have this document before even considering accepting gifts. Experience has shown that some gifts are hard to return once accepted and might cost time and money to transport, store, or insure.
Depending on your state, a Nonprofit Gift Acceptance Policy may also be known as:
While the Nonprofit Gift Acceptance Policy isn't mandatory, it establishes the rules for handling gifts and assets and may make everything much more comfortable in this regard. Moreover, this document is valuable for when a nonprofit receives something new or if the gift comes with strings attached.
Create your own documents by answering our easy-to-understand questionnaires to get exactly what you need out of your Nonprofit Gift Acceptance policy.
Laws vary by location. Each document on 360 Legal Forms is customized for your state.
All you have to do is fill out a simple questionnaire, print, and sign. No printer? No worries. You and other parties can even sign online.
Nonprofits are already busy organizing events and working towards their mission. They usually do not have the time to draft a legal document. Luckily, they can use a template from 360 Legal Forms to get started.
Let 360 Legal Forms help with our extensive library of attorney-vetted legal forms. The process is fast and easy. All you have to do is fill out our easy-to-understand questionnaire. Once complete, simply download your form as a PDF or Word document from your secure online account.
To create your document, please provide:
It's best to appoint a committee to review the document. The policy is not a legal document and does not have to be signed or notarized.
Once the document is created, print it out and educate staff about it. Furthermore, any new members should also be familiar with the Nonprofit Gift Acceptance Policy. After that, the nonprofit can store it with its other official documents for future referral.
Our exhaustive library of documents covers your personal, business, and real estate needs with all of your DIY legal forms.
Create professional documents for thousands of purposes.
Make unlimited documents and revisions. Sign online in seconds.
Our documents are vetted by lawyers and are applicable to all 50 states.