Gift Acceptance Policy
The Board of Directors and staff of L’Arche solicit current and deferred gifts from individuals, corporations, and foundations to support L’Arche’s ongoing mission and future growth. L’Arche adheres to procedures and guidelines to ensure responsible and ethical practices in accepting gifts.
Approved by Board of Directors January 11, 2014
A. Applicability. These procedures and guidelines apply to all gifts to L’Arche, Inc.
B. Gift Review Process.
1. Development Staff Review. L’Arche’s development staff is responsible for reviewing all gifts made to L’Arche and bringing unusual or concerning gifts to the attention of the Gift Acceptance Committee.
2. Gift Acceptance Committee. The Gift Acceptance Committee is composed of the Executive Director, Chief Operating Officer, Treasurer of the Board of Directors, Director of Communications and Development, and such other members as appointed by the Executive Director. The Gift Acceptance Committee has authority to make final decisions on accepting or rejecting unusual or concerning gifts. The Committee may also submit significant questions with recommendations for a decision by the Finance Committee, Executive Committee, or full Board of Directors.
3. Use of Legal Counsel. L’Arche shall seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate.
C. Considerations for Gift Acceptance. L’Arche generally accepts gifts that support L’Arche’s mission and can be accepted without causing conflicts of interest or undue administrative burden. L’Arche reserves the right to review and refuse gifts that are inconsistent with L’Arche’s mission, cause conflicts of interest, present undue administrative burdens, or for any other lawful reason in L’Arche’s sole discretion.
1. Unrestricted Gifts. L’Arche generally accepts all unrestricted cash, pledges, bequests, beneficiary designations, and publicly traded securities.
2. Pledge Terms. L’Arche accepts pledges with payment periods up to five years. Pledges with payment periods greater than five years may be considered in the discretion of the development staff and, where appropriate, the Gift Acceptance Committee.
3. Restricted Gifts. L’Arche generally accepts gifts restricted to specific programs and purposes, provided that such gifts are consistent with its stated mission, purposes, and priorities. L’Arche does not accept gifts that are too restrictive in purpose, such as those that violate the terms of the corporate charter, gifts that are too difficult to administer, or gifts that are for purposes outside the mission of L’Arche.
4. In-Kind Gifts. L’Arche accepts in-kind gifts from its wish list. L’Arche does not accept used furniture and most used vehicles. Other in-kind gifts will be accepted in the discretion of the Director of Development.
5. Real Estate and Unusual Gifts. Gifts of real estate and unusual gifts are generally reviewed by the Gift Acceptance Committee. These include:
a. In-kind gifts valued above $1,000 (except publicly traded securities, which do not necessitate Gift Acceptance Committee review)
b. Real estate
c. Remainder interests in property
d. Oil, gas, and mineral interests
e. Bargain sales
f. Closely held or restricted securities
g. Charitable gift annuities, remainder trusts, or lead trusts
h. Gifts that might be inconsistent with our mission.
6. Gifts from Family Members of Prospective Core People. L’Arche generally does not accept gifts from family members or guardians of prospective core people where there is an express or implied expectation of acceptance of the core person into L’Arche in exchange for the gift.
D. Conflict of Interest. L’Arche encourages prospective donors to seek independent legal and financial advice in matters relating to their gifts and the resulting tax and estate planning consequences. L’Arche complies with the Model Standards of Practice for the Charitable Gift Planner promulgated by the National Committee on Planned Giving.
E. Gift Acknowledgment and Valuation
1. Acknowledgement of all gifts made to L’Arche and compliance with the current IRS requirements in acknowledgement of such gifts is the responsibility of the Director of Development with oversight by the Executive Director and the Board of Directors.
2. L’Arche will record gifts received at fair market value on date of receipt. Marketable securities generally are sold upon receipt unless otherwise directed by the Gift Acceptance Committee.
3. L’Arche does not provide fair value estimates to donors in donor acknowledgements.
4. It is the responsibility of the donor to secure any appraisal or independent legal counsel needed by the donor in relation to gifts made to L’Arche.
5. The Director of Development is responsible for filing IRS Form 8282 in accordance with its requirements upon sale or disposition of any asset sold by L’Arche when the charitable deduction value of the item is more than $5,000.
6. Donee acknowledgements on IRS Form 8283 for non-cash donations in excess of $5,000 may be signed by the Director of Development, Finance and Operations Director, COO, or Executive Director.