Haven Housing Gift Acceptance Policy

  1. Purpose
    Haven Housing, accepts immediate and planned future gifts (see definition section) that are consistent with its mission and that support its core programs (St. Anne’s Place, Ascension Place, and Next Step), as well as special projects. Its staff, Board of Directors, and volunteers solicit gifts from individuals, partnerships, corporations, foundations, and government agencies.

    Haven Housing strives to be part of the movement to transform fundraising and philanthropy by grounding our work in racial and economic justice. The organization will also adhere to the principles outlined in the Donor Bill of Rights from the Association of Fundraising Professionals, including those related to confidentiality, transparency, recordkeeping, and intended use of gifts.

    This policy is to provide guidance to those soliciting gifts to benefit Haven Housing and to donors and their advisors as they consider possible gifts.

  2. General Policies
    In the course of its regular fundraising activities, Haven Housing will solicit and accept donations of cash, securities, real property, personal property, and in-kind services (see definitions below).

    A. Gift Review
    Certain types of gifts must be reviewed prior to solicitation and/or acceptance due to the special considerations and liabilities they may pose for Haven Housing and the donor. Gifts of real property, personal property with an estimated value over $500, securities with restrictions or buy-sell agreements, irrevocable charitable trusts or life insurance policies, annuities, and other unusual gift types as determined by the Director of Development and/or Executive Director are subject to review.

    Gifts of real property, personal property with an estimated value over $500, securities with restrictions or buy-sell agreements, irrevocable charitable trusts or life insurance policies, annuities, or other unusual gift types may only be accepted upon approval of the Gift Acceptance Committee. The Gift Acceptance Committee is an ad hoc committee made up of the Board (Co)Chair, Board Treasurer, Executive Director, Development Director, and Accountant. The Gift Acceptance Committee will consider the following criteria when soliciting and accepting gifts:

  • Alignment with the core values of the organization

  • Compatibility between the donor’s intent for the gift and the organization’s use of the gift

  • Reputational risk to the organization 

  • Whether the primary benefit of the gift is for the organization, or the donor

  • Consistency with past decisions

  • Ability to operationalize the gift without significant expense or difficulty

  • Whether the gift will encourage or discourage future gifts

The Gift Acceptance Committee may seek legal counsel relating to the acceptance of gifts. Review by counsel is recommended when:

  • Securities are subject to restrictions or buy-sell agreements

  • Documents name Haven Housing as a trustee or obliges the organization to act in any fiduciary capacity

  • Gifts require Haven Housing to assume financial or other obligations

  • Transactions with a potential conflict of interest

  • Gifts of property that may be subject to environmental or regulatory restrictions

The Board (Co)Chair and Board Treasurer will inform the full Board of Directors of their decisions related to gifts the Gift Acceptance Committee reviews.

B. Gift Restrictions

Haven Housing encourages donors to give unrestricted gifts, and may accept gifts for specific programs or projects that are consistent with stated mission, purposes, and priorities. The organization will not accept gifts it deems too restrictive in purpose or are not aligned with current or future anticipated projects/programs. All final decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Executive Director.

C. Gift Agreements

Haven Housing requires a grant or gift agreement for all gifts:

  • Restricted more narrowly than General Operating, St. Anne’s Place, Ascension Place, and Next Step Housing

  • Planned to be fulfilled over multiple fiscal years

  • When specific donor acknowledgment, involvement, or amendments are desired. 

Haven Housing prefers to document planned future gifts; however, it is not required unless the gift meets the criteria for requiring a grant agreement. Documenting planned future gifts:

  • Ensures that donors’ wishes are fulfilled regardless of the time that passes and any staffing changes between when a gift is arranged and when it is fulfilled

  • Helps Haven Housing plan to meet future programming needs.

The Board (Co)Chair, Executive Director, and Development Director are authorized to enter into grant or gift agreements with donors. Under the supervision of the Development Director, the Grants Manager is also authorized to sign occasional grant agreements or applications on behalf of Haven Housing indicating agreement with grants terms and conditions and compliance requirements, this includes authorization to sign Emergency Food and Shelter Program Local Recipient Organization (LRO) forms.

D. Tax Implications for Donors

While Haven Housing does not provide tax, legal or professional advice, every effort will be made to assist donors in complying with the intents and purposes of the Internal Revenue Service in allowing charitable tax benefits. Haven Housing encourages all donors to seek assistance from personal financial and legal advisors in matters relating to their gift, especially regarding tax or estate planning benefits and consequences.

Donors are responsible for estimating the value of their gift (other than cash) in accordance with IRS Publication 561. Household goods valued with an estimated value of more than $500 and other gifts of property that have a value in excess of $5,000 must be accompanied by the original copy of an appraisal unless it consists of cash, marketable securities, closely held securities with a value of $10,000 or less, intellectual property such as a copyright or patent, stock-in-trade, inventory or other property that would otherwise be held by the donor for sale to customers in the ordinary course of the donor’s business. The fee for the appraisal may not be based on the value of the appraised property, and the appraiser must be “qualified,” as that term is used in IRS Publication 561.

When special events involve a charitable contribution Haven Housing will inform the donor of the fair market value of the experience and charitable contribution amount.

E. Personal Gain 

Haven Housing staff, contractors, members of the Board of Directors, and volunteers are expected to put the organization’s mission above personal gain and adhere to the other principles outlined in the AFP Code of Ethics. Persons soliciting and accepting gifts on behalf of Haven Housing are therefore prohibited from accepting personal gifts of substantive value from past, current, or potential donors, unless the two parties have a significant pre-existing relationship (i.e. are members of the same family). 

3. Changes to This Policy

This policy will be reviewed regularly and amended as necessary by the Board of Directors. 

Definitions:

Cash: Cash refers to all cash and equivalents including currency/coin, checks, money orders, credit or debit card transactions, ACH transfers, and third-party online payment processing. Certain types of legacy gifts, such as revocable benefit from retirement plans, investment accounts, and life insurance policies or a bequest of cash through a will, are considered cash-equivalents for the purpose of this policy.

In Kind Services: Goods, services, or transactions not measured in monetary terms.

Personal Property: A moveable thing or intangible item (like copyright) that is capable of being owned by a person. Personal property does not include land or buildings.

Planned Future Gift: Planned future gifts (also known as planned gifts or legacy gifts) enable a donor to make a larger impact than would be possible from their ordinary income. There are three types of planned gifts:

  • Gifts payable upon a donor’s death, such as a bequest or benefit from a life insurance policy.

  • Outright gifts in which a donor gives appreciated assets, and often offers the donor a tax benefit.

  • Gifts that provide income or financial benefit to the donor during their lifetime, like a charitable gift annuity. Under this policy all planned gifts in this category must be reviewed by the Gift Acceptance Committee.

Real Property: Fixed property, such as land or buildings.

Securities: Stocks, bonds, mutual funds, exchange-traded funds or other types of investments are bought and sold.

Haven Housing’s Gift Acceptance Policy was approved the Board of Directors on June 21, 2022.