Gift Acceptance Policy
Purpose of Policy
The National Eczema Association (NEA) solicits current and deferred gifts from individuals, corporations, foundations and other private entities to secure the financial growth and fulfill the mission of NEA. The purpose of this Gift Acceptance Policy is to define the practices and policies governing the acceptance of gifts by NEA and to provide guidance to prospective donors and their advisors when making gifts to NEA, so as to facilitate the gift-giving process.
NEA will accept unrestricted gifts and gifts for specific programs and purposes, provided that such gifts are consistent with its stated mission and do not violate the terms of its corporate charter or this policy. NEA reserves the right to refuse any proposed gift.
Gift Acceptance Requirements
Mission-related benefit: The gift provides a meaningful mission-related benefit to the general public or particular constituencies of NEA.
Independence and Control: NEA exercises independent judgment in all its decision making related to any gift and retains complete control of and right of approval over all content related to the event or program activity.
Consistency: The gift is consistent with NEA’s principles, public positions, policies, and standards.
Balance: NEA evaluates on an annual basis the total amount of revenue from each major source of public support (i.e. corporations, individuals, foundations) as a percentage of total revenue.
Types of Acceptable Gifts
The following types of gifts are acceptable:
- Tangible personal property
- Real Estate
- Life insurance policies
- Charitable gift annuities
- Charitable remainder trusts
- Charitable lead trusts
- Retirement plan beneficiary designations
- Life insurance beneficiary designations
Types of Acceptable Donors
- Individuals partnerships
- Government agencies
- Other entities
Criteria for refusal
- Gifts that violate any federal, state, or local statute or ordinance
- Gifts that contain unreasonable conditions (e.g., a lien or other encumbrance) or gifts of partial interest and property
- Gifts that are financially unsound
- Gifts that could expose the NEA to liability Evaluating Gifts: The NEA Board of Directors provides oversight of this policy.
Use of Legal Counsel
NEA shall seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate.
Review by counsel is recommended for:
- Closely held stock transfers that are subject to restrictions or buy-sell agreements
- Transactions with potential conflict of interest that may invoke IRS sanctions
- Other instances in which use of counsel is deemed appropriate by Board of Directors
Policy Adopted August 5, 2017