Gift Acceptance Policy

MISSION

The Mason Schools Foundation’s (MSF) mission is to support the Mason City School District in the areas of academics, arts and athletics. The Foundation funds innovative programs that offer Mason students unique depth and breadth to their educational experiences.

PURPOSE

The purpose of this gift acceptance policy is to govern the acceptance of gifts and provide guidance to donors and their advisors in completing gifts.

All gifts must be consistent with the mission, purpose and scope of the MSF.

LEGAL COUNSEL

Donors should seek his or her own legal and tax counsel before making a gift.

The MSF may hire legal counsel to assist with gifts. Counsel may review certain gifts, transactions governed by contracts, transactions with potential conflicts of interest or as the board deems appropriate.

TYPES OF GIFTS

1. The MSF accepts gifts of cash, personal property, publicly traded securities, gifts-in-kind and charitable bequests. The Foundation may accept other gifts if deemed appropriate by the Gift Acceptance Committee.
2. Gifts of publicly traded securities will generally be sold as soon as they are received and funds will be transferred to the endowment. The decision will be made by the Foundation’s Investment Committee and Gift Acceptance Committee.
3. Matching gifts from corporations are encouraged and the Foundation will complete documentation of gifts to secure the match upon request from the donor.
4. Any gift of real estate requires completion of a real estate assessment from the Gift Acceptance Committee and, upon their recommendation, subsequent approval of the board prior to acceptance.
5. MSF may be the named beneficiary of a life insurance policy or retirement plan. When a donor informs the Foundation of their intent to designate the MSF as a beneficiary, MSF’s Gift Acceptance Committee will request a copy of the actual beneficiary designation from the donor.
6. The Foundation accepts charitable bequests. Donors are encouraged to recognize that the needs, policies and circumstance of the Foundation may change in the future.
   

Donors are advised to describe the specific purposes of their gifts as broadly as possible to avoid detailed restrictions.

For a specific bequest: “I hereby give and bequeath, $____________ from my estate to the Mason Schools Foundation, an Ohio not-for-profit organization, Mason, Ohio, for its general purposes.”

For a remainder gift: “I hereby give and bequeath all (or_%) of the rest, residue and remainder of my estate to the Mason Schools Foundation, an Ohio not-for-profit organization, Mason, Ohio, for its general purposes.”

If in the opinion of the Foundation, all or part of the bequeathed funds cannot be applied in strict conformance with the purposes previously stated, the Foundation may use these funds for other appropriate purposes as nearly aligned to the original intent of the donor as good conscience and need dictate within the scope of the Foundation.

DESIGNATED GIFTS

1. Donors may make designated gifts that are consistent with the mission, purpose and scope of the MSF.
2. The MSF Gift Acceptance Committee must agree to accept the donor-designated gift to ensure it is consistent with the Gift Acceptance Policy, the Foundation’s purpose and appropriate for the school district. The Foundation’s Gift Acceptance Committee will direct 5% of the designated gift to the annual operating fund to cover administrative costs.
3. The Foundation will fund the designated project only upon the receipt and processing of the gift.
4. If in the opinion of the Foundation, all or part of the designated funds cannot be applied in strict conformance with the purposes previously stated, the Foundation may use these funds for other appropriate purposes as nearly aligned to the original intent of the donor as good conscience and need dictate within the scope of the Foundation.

GIFT ACCEPTANCE COMMITTEE

The president will appoint the Gift Acceptance Committee annually and include at minimum a finance member, grant member and member-at-large. It has the authority to secure legal counsel as deemed necessary and should respond to proposed gifts in a timely manner. The committee will establish a review process and have the authority to recommend exceptions to the board to the policy in special circumstances. The committee should review the Gift Acceptance Policy annually and determine if any changes are necessary, and if so, should recommend them to the board for approval.

ACKNOWLEDGEMENT OF GIFTS

The MSF will provide written acknowledgement to donors who make any single contribution greater than $250. The gift acknowledgement will make a good faith estimate of the value of goods or services, if any, provided in exchange for a gift and will describe, not value, any property the donor donates.

Giving Recognition Circles/Donor Recognition

Annual Foundation Membership--$50

Giving Circles

Student Member

$10

Member

$50

Supporter

Up to $99

Honor Circle

$100—$499

Scholar Circle

$500--$999

Bronze Circle

$1,000—$4,999

Silver Circle

$5000-$9,999

Gold Circle

$10,000-$24,999

Platinum Circle

$25,000—$99,999

Founder’s Circle

$100,000 +

Recognition Policy

• All gifts over $50 will be listed in the annual report to donors. Gifts over $100 will be listed in the Gala program.
• Gifts over $50 from each donor will be tracked and added together for a cumulative total toward the next circle of giving.
• While gifts accrue from year to year, public recognition is given annually to those donors who have given during each fiscal year.
• A signed pledge of over $5000 or more, to be paid over a reasonable period of time, not to exceed five years, will be recognized at the start of the year of the pledge. The initial pledge payment must be made and the pledge current to be recognized at the pledged amount. If that criteria is not met, the donor will be recognized at their actual gift level.
• Gifts of $5000 or more will be part of the Donor Recognition Wall. Donor names will be added each year as the $5000 gift-level is reached.

Revised 6/11