MWDTSA Gift Acceptance Policy
I. Conflict of Interest
Military Working Dog Team Support Association, Inc. (MWDTSA) urges all prospective donors to seek the assistance of personal legal and financial advisors in matters relating to their gifts and the resulting tax and estate planning consequences. The Charity will comply with the Model Standards of Practice for the Charitable Gift Planner promulgated by the National Committee on Planned Giving.
II. Purpose of MWDTSA Gift Acceptance Policy and Guidelines
The board of directors of MWDTSA and its volunteer staff solicit current and deferred gifts from individuals, corporations, and foundations to secure the future growth and missions of our organization. The MWDTSA Gift Acceptance Policy governs the acceptance of gifts and provides guidance to prospective donors and their advisors. The provisions of this policy shall apply to all gifts received by MWDTSA for any of its programs or services.
III. Use of Legal Counsel
MWDTSA will seek the advice of legal counsel when appropriate. Some examples could include:
- The review of certain gifts, such as closely-held stock subject to buy-sell agreements or other restrictions.
- The review of all transactions governed by contracts or legal documents. This would include bargain sales, trusts naming the nonprofit as trustee, or any document obligating the trustee to take action.
- The review of all transactions with potential conflicts of interest.
- Other circumstances in which committee or board members believe that use of counsel is appropriate.
Counsel should serve as an independent observer and advisor. Use of counsel, when appropriate, is part of the fiduciary role exercised by the board members in connection with the MWDTSA Gift Acceptance Policy.
IV. Gift Restrictions
MWDTSA will accept unrestricted gifts, and gifts for specific programs and purposes, provided that such gifts are not inconsistent with our stated mission, purposes, and priorities. MWDTSA will not accept gifts that are too restrictive in purpose. Gifts that are too restrictive are those that violate the terms of the corporate charter, or gifts that are too difficult to administer, or gifts that are for purposes outside our mission. All final decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the gift acceptance committee, composed of the Board.
The following criteria govern the acceptance of each gift form:
1) Cash. Cash is acceptable in any form. Checks shall be made payable to Military Working Dog Team Support Association, Inc. or MWDTSA and shall be mailed to: MWDTSA, 3501 MacCorkle Ave. SE #326, Charleston, WV 25304. MWDTSA may accept outright cash gifts in any amount.
2) Product-in-Kind. MWDTSA may accept product-in-kind donations that meet the criteria set forth by the MWDTSA Board. This currently includes gifts of specific dog toys and grooming supplies for large, active dogs.
3) Tangible Personal Property, Real Estate, and Remainder Interests in Property. MWDTSA does not accept donations of tangible personal property, real estate, or remainder interest in property. If a property owner wishes to support MWDTSA, the best approach is to first sell the property and then donate proceeds via a cashiers check.
4) Life Insurance. MWDTSA must be named as both beneficiary and irrevocable owner of an insurance policy before a life insurance policy can be recorded as a gift. The gift is valued at its interpolated terminal reserve value, or cash surrender value, upon receipt. If the donor contributes future premium payments, the Charity will include the entire amount of the additional premium payment as a gift in the year that it is made.
If the donor does not elect to continue to make gifts to cover premium payments on the life insurance policy, MWDTSA may:
- continue to pay the premiums;
- convert the policy to paid up insurance; or
- surrender the policy for its current cash value.
5) Retirement Plan Beneficiary Designations. Donors and supporters of MWDTSA can name MWDTSA as beneficiary of their retirement plans. Such designations will not be recorded as gifts until such time as the gift is irrevocable. When the gift is irrevocable, but is not due until a future date, the present value of that gift may be recorded at the time the gift becomes irrevocable.
6) Bequests. Donors and supporters of MWDTSA can make bequests to MWDTSA under their wills and trusts. Such bequests will not be recorded as gifts to MWDTSA until such time as the gift is irrevocable. When the gift is irrevocable, but is not due until a future date, the present value of that gift may be recorded at the time the gift becomes irrevocable.
7) Life Insurance Beneficiary Designations. Donors and supporters of MWDTSA can name the Charity as beneficiary or contingent beneficiary of their life insurance policies. Such designations shall not be recorded as gifts to the Charity until such time as the gift is irrevocable. Where the gift is irrevocable, but is not due until a future date, the present value of that gift may be recorded at the time the gift becomes irrevocable.
VII. Miscellaneous Provisions
Securing appraisals and legal fees for gifts to MWDTSA. It will be the responsibility of the donor to secure an appraisal (where required) and independent legal counsel for all gifts made to MWDTSA.
Valuation of gifts for development purposes. MWDTSA will record a gift received at its valuation for gift purposes on the date of gift.
VIII. Changes to Gift Acceptance Policies
These policies and guidelines have been reviewed and accepted by the gift acceptance committee of MWDTSA The gift acceptance committee of the MWDTSA must approve any changes to, or deviations from, these policies.
Approved on the 10th day of March, 2020.
President, Board of Directors, MWDTSA