Animal Charity Evaluators solicits and accepts gifts for purposes that will help the organization further and fulfill its mission. Animal Charity Evaluators urges all prospective donors to seek the assistance of personal legal and financial advisors in matters relating to their gifts, including the resulting tax and estate planning consequences. The following policies and guidelines govern acceptance of gifts made to Animal Charity Evaluators for the benefit of any of its operations, programs or services.
Gifts Generally Accepted Without Review
- Cash. Cash gifts are acceptable in any form, including by check, money order, credit card, or on-line.
- Marketable Securities. Marketable securities may be transferred electronically to an account maintained at one or more brokerage firms or delivered physically with the transferor’s endorsement or signed stock power (with appropriate signature guarantees) attached. All marketable securities will be sold promptly upon receipt, unless otherwise directed by Animal Charity Evaluators’ Executive Director to be kept for strategic program purposes.
- Bequests and Beneficiary Designations under Revocable Trusts, Life Insurance Policies, Commercial Annuities and Retirement Plans. Donors are encouraged to make bequests to Animal Charity Evaluators under their wills, and to name Animal Charity Evaluators as the beneficiary under trusts, life insurance policies, commercial annuities and retirement plans.
- Charitable Remainder Trusts. Animal Charity Evaluators will accept designation as a remainder beneficiary of charitable remainder trusts.
- Charitable Lead Trusts. Animal Charity Evaluators will accept designation as an income beneficiary of charitable lead trusts.
Gifts Accepted Subject to Prior Review
Certain forms of gifts or donated properties may be subject to review prior to acceptance. Examples of gifts subject to prior review include, but are not limited to:
- Tangible Personal or Intellectual Property. The Executive Director shall review and determine whether to accept any gifts of tangible personal property in light of the following considerations: does the property further the organization’s mission? Is the property marketable? Are there any unacceptable restrictions imposed on the property? Are there any carrying costs for the property for which the organization may be responsible? Is the title/provenance of the property clear?
- Life Insurance. Animal Charity Evaluators will accept gifts of life insurance where Animal Charity Evaluators is named as both beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay, before due, any future premium payments owing on the policy.
- Real Estate. All gifts of real estate are subject to review by the Executive Director. Criteria for acceptance of gifts of real estate include: Is the property useful for the organization’s purposes? Is the property readily marketable? Are there covenants, conditions, restrictions, reservations, easements, encumbrances or other limitations associated with the property? Are there carrying costs (including insurance, property taxes, mortgages, notes, or the like) or maintenance expenses associated with the property? Does an environmental review or audit reflect that the property is damaged or otherwise requires remediation?
Restrictions on Gifts
Animal Charity Evaluators will not accept gifts that (a) would result in Animal Charity Evaluators violating its corporate charter, (b) would result in Animal Charity Evaluators losing its status as an IRC § 501(c)(3) not-for-profit organization, (c) are too difficult or too expensive to administer in relation to their value, (d) would result in any unacceptable consequences for Animal Charity Evaluators, (e) are for purposes outside Animal Charity Evaluators’ mission, or (f) are from any individuals ‘strongly tied’ to any of the charities that are or will be considered for evaluation by Animal Charity Evaluators. The term “strongly tied” refers to key decision-making individuals within an organization, and consists most often of, but is not limited to, the Executive Director and President/Chair of the board. Donations from employees or other board members of an organization will be allowed on a case-by-case basis, depending on the perceived influence that said individual has over the organization. Animal Charity Evaluators will accept grants/donations from organizations that are outside our plausible scope for recommendations, as this is not a conflict of interest. Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Executive Director, in consultation with the Board of Directors.