GIFT ACCEPTANCE POLICY

The REVEST Foundation solicits and accepts gifts for purposes that will help the organization further and fulfill it's mission.

The REVEST Foundation urges all prospective donors to seek 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 the REVEST Foundation for the benefit of any of its operations, programs and/or services.

Use of Legal Counsel and Board of Directors (BOD) approval - The REVEST Foundation will seek the advice of legal counsel and BOD approval in matters relating to acceptance of gifts when appropriate. Review by counsel and BOD is recommended for:

Transactions with potential conflicts of interest
Gifts requiring The REVEST Foundation to assume financial or other obligations
Gifts of property which may be subject to environmental or other regulatory restrictions.

Restrictions on Gifts - The REVEST Foundation will not accept gifts that:

Would result in The REVEST Foundation violating its charter.
Would result in losing its status as a 501(c)(3) non-profit status.
Would be too expensive or too difficult to administer in relation to its value.
Would be used for purposes outside the The REVEST Foundation’s mission
Would result in any unacceptable consequences for The REVEST Foundation

Decisions on the acceptance or refusal of a gift shall be made by the board of directors, in consultation with the President.

Gifts that are usually accepted without review:

Cash -

Cash gifts are acceptable in any form, including by check, money order, credit card, or online.

Marketable Securities -

All marketable securities will be sold promptly upon receipt unless directed by the board of directors. In some cases marketable securities may be restricted by applicable securities law or the terms of the proposed gift. In such instances, the decision whether to accept the restricted securities shall be made by the board of directors.

Bequests -

Donors are encouraged to make bequests to the REVEST Foundation under their wills, and to name the REVEST Foundation as the beneficiary under trusts, life insurance policies, and retirement plans.

Gifts Accepted Subject to Prior Review - Certain forms of gifts or donated properties may be subject to review prior by the board of directors and the President prior to acceptance. Examples of gifts subject to review include, but are not limited to:

Real Estate -

All gifts of real estate are subject to review by the board of directors, in consultation with the President. Prior to acceptance of any gift of real estate other than a personal residence, The REVEST Foundation shall require an environmental review by a qualified environmental firm. In the event that the review reveals a potential problem, the organization may retain a qualified environmental firm to conduct an audit.

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 restrictions, easements, encumbrances, or other limitations with the property?
- Are there carrying costs (insurance, property taxes, mortgages, etc…) or maintenance expenses associated with the property>
- Does the environmental audit reflect that the property is damaged or requires remediation?

Life Insurance -

The REVEST Foundation will accept gifts of life insurance where the Foundation is named both a beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay, before due, any future payments owing on the policy

Personal Property -

The Board of Directors shall review and determine whether to accept any gifts of personal property in light of the following considerations:
- Is the property marketable?
- Are there any restrictions imposed on the property?
- Does the property further the foundation’s mission?
- Is the title of the property clear?
- Are there any carrying costs that the foundation may be responsible for?

Gift Acceptance Policy

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The REVEST Foundation solicits and accepts gifts for purposes that will help the organization further and fulfill it's mission.

Use of Legal Counsel and Board of Directors (BOD) approval - The REVEST Foundation will seek the advice of legal counsel and BOD approval in matters relating to acceptance of gifts when appropriate. Review by counsel and BOD is recommended for:

Transactions with potential conflicts of interest

Gifts requiring The REVEST Foundation to assume financial or other obligations

Gifts of property which may be subject to environmental or other regulatory restrictions.

Restrictions on Gifts - The REVEST Foundation will not accept gifts that:

Would result in The REVEST Foundation violating its charter.

Would result in losing its status as a 501(c)(3) non-profit status.

Would be too expensive or too difficult to administer in relation to its value.

Would be used for purposes outside the The REVEST Foundation’s mission

Would result in any unacceptable consequences for The REVEST Foundation

Decisions on the acceptance or refusal of a gift shall be made by the board of directors, in consultation with the President.

Gifts that are usually accepted without review:

Cash -

Cash gifts are acceptable in any form, including by check, money order, credit card, or online.

Marketable Securities -

Bequests -

Donors are encouraged to make bequests to the REVEST Foundation under their wills, and to name the REVEST Foundation as the beneficiary under trusts, life insurance policies, and retirement plans.

Gifts Accepted Subject to Prior Review - Certain forms of gifts or donated properties may be subject to review prior by the board of directors and the President prior to acceptance. Examples of gifts subject to review include, but are not limited to:

Real Estate -

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 restrictions, easements, encumbrances, or other limitations with the property?

Are there carrying costs (insurance, property taxes, mortgages, etc…) or maintenance expenses associated with the property>

Does the environmental audit reflect that the property is damaged or requires remediation?

Life Insurance -

The REVEST Foundation will accept gifts of life insurance where the Foundation is named both a beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay, before due, any future payments owing on the policy

Personal Property -

The Board of Directors shall review and determine whether to accept any gifts of personal property in light of the following considerations:

Is the property marketable?

Are there any restrictions imposed on the property?

Does the property further the foundation’s mission?

Is the title of the property clear?

Are there any carrying costs that the foundation may be responsible for?