When you receive a gift from a donor, do you always jump for joy
and quickly send a thank-you note from your organization? If you
do, that may be a mistake, because all gifts are not created equal.
Having a gift acceptance policy to refer to and using it to decide
if you should accept a donation is important to your
organization's financial position as well as to its
reputation.
Finding a Perfect Fit
A strong gift acceptance policy describes what kinds of gifts
are acceptable and how they will be managed by your organization.
It also should state your organization's mission, the
policy's purpose, and the types of gifts that should be
reviewed by an attorney before they are accepted. It should also
include the role of your organization's gift acceptance
committee, if you have one, and the steps involved in an annual
review of the gift acceptance policy.
