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Abstract: 

By their nature, family foundations receive contributions from a very small number of funders, often as the result of coordination of the founder’s charitable and tax planning. Rarely is a family foundation in the position of being offered a gift that its founders and advisors have not vetted. However, individuals who create family foundations are among the most devoted philanthropists. As a result, they often serve on the boards of public charities, which depend on gifts from the general public. In this role, they have the opportunity to ensure that the organizations they serve adopt—and adhere to—appropriate gift acceptance policies. A gift acceptance policy has done its job if it results in the organization’s being offered a gift that the organization can take. By helping to steer the stewardship conversation and guide the mechanical due-diligence process, a gift acceptance policy helps the organization get to acceptance.

Keywords: Gift Acceptance Policies

Affiliations:  1: Strasburger & Price, LLP.