Nonprofit Gift Acceptance Policy

With a Nonprofit Gift Acceptance Policy, you can keep consistent rules for your organization receiving gifts.

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The Nonprofit Gift Acceptance Policy guides employees and staff on what they can do with various types of gifts, including accepting or not accepting. 

What Is a Nonprofit Gift Acceptance Policy?

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. 

Other Names for the Nonprofit Gift Acceptance Policy

Depending on your state, a Nonprofit Gift Acceptance Policy may also be known as:

  • Gift Acceptance Policies
  • Charitable Gift Acceptance Policy

Who Needs a Nonprofit Gift Acceptance Policy?

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. 

Why Use 360 Legal Forms for the Nonprofit Gift Acceptance Policy?

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Create your own documents by answering our easy-to-understand questionnaires to get exactly what you need out of your Nonprofit Gift Acceptance policy.

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How to Create a Nonprofit Gift Acceptance Policy with 360 Legal Forms?

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.

What Information Will I Need to Create My Nonprofit Gift Acceptance Policy?

To create your document, please provide:

  • Organization information: The legal name and address of the nonprofit.
  • Organization's purpose: The nonprofit's goal, such as educational, religious, or sports-related.
  • The purpose of the document: creating the Nonprofit Gift Acceptance Policy, for example, to serve as a guideline for the charity and its donors.
  • Types of acceptable gifts and assets: A list of all fair gifts and support.
  • Acceptable gift forms: Specify if the organization accepts restricted gifts or specific endowments.
  • A checklist regarding gifts: If a gift has to go through inspection or a market appraisal, the document should outline it.
  • Handling gifts: Specify what the nonprofit can do with the accepted gifts. For example, the document should state if it can sell the gifts right away or keep them for a particular period.
  • Unacceptable gifts: The non-acceptable types of gifts.
  • The use of legal counsel: Specify the circumstances in which the organization or the donor needs legal counsel.
  • Donor conflict of interest: Specify the circumstances under which the donor has to seek advice before gifting something. 
  • Gift acceptance board: Members responsible for determining whether they can accept a gift.

Nonprofit Gift Acceptance Policy Terms

  • Restricted gifts: The types of gifts that are not to be accepted
  • Missionof the nonprofit organization: The goals of the nonprofit, such as educational or religious
  • Gift acceptance committee: A committee with members appointed to review gifts and decide whether to accept them
  • Tangible personal property: Physical gifts like artworks, furniture, or jewelry

Nonprofit Gift Acceptance Policy Signing Requirements 

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.

What to Do With the Nonprofit Gift Acceptance Policy?

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.

Frequently Asked Questions

A Nonprofit Gift Acceptance Policy isn’t a mandatory document. Since it establishes the gifts that the nonprofit can accept and what to do with them, it is a valuable document for any nonprofit.

Reviewing the Nonprofit Gift Acceptance Policy once a year enables nonprofits to update the policy as needed. The board of directors would have to approve any changes proposed prior to creating a new document.

Yes. In fact, posting the Nonprofit Gift Acceptance Policy on the website informs donors about the policy so they can determine if they still want to donate something. Whenever the document is updated, make sure to post a new version on the site as well.

Each nonprofit is free to define its list of unacceptable gifts. These may include gifts directly opposed to the organization’s mission, illegal gifts, and gifts that might cost the nonprofit a lot of money.

The size of the organization is a nonfactor as regards the Nonprofit Gift Acceptance Policy. Even smaller organizations can receive gifts in the future, so they’ll have to know how to handle them.

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Applicable to all 50 states
Applicable to all 50 states

Our documents are vetted by lawyers and are applicable to all 50 states.