CFGV Community Foundation of the Gunnison Valley logo in blue and gold.

970-641-8837

I'm A Giver
I'm A Nonprofit
Give Now
Access My Fund

Gift Acceptance Policy

Gift and Fund Acceptance Policies

Adopted by the Board 9/20/06

Amended 12/20/06, 1/6/2010, 6/27/12, 3/20/13, 8/24/17, 12/15/22, 9/12/24

The Community Foundation of the Gunnison Valley (“CFGV”), a nonprofit organization organized under the laws of the State of Colorado, encourages the solicitation and acceptance of gifts to CFGV that will help the organization further and fulfill its mission.

The following policies and guidelines govern acceptance of gifts made to CFGV for the benefit of any of its programs. They are established to ensure that each gift to CFGV is structured to provide maximum benefits to the community, the donor, the organization, and the beneficiaries of CFGV’s charitable programs and activities.

Purpose and Scope of Policies and Guidelines

The Board of Directors of CFGV and its Staff solicit current and deferred gifts from individuals, corporations and foundations to secure the future growth and missions of CFGV. These policies and guidelines govern the acceptance of gifts by CFGV and provide guidance to prospective donors and their advisors when making gifts to CFGV. The goal is to encourage financial support for CFGV without encumbering it with gifts which either generate more cost than benefit, or which may be restricted in a manner that is not in keeping with CFGV’s charitable purposes.     

Notwithstanding anything in this policy to the contrary, CFGV reserves the right to waive any requirements herein with respect to acceptance of specific gifts.

Ethical Standards in Dealing with Donors

CFGV is committed to the highest ethical standards of philanthropy and development. In all transactions between potential donors and the organization, CFGV aspires to provide accurate information and full disclosure of the benefits and liabilities that could influence a donor’s decision.

The role of CFGV’s Staff is to inform, guide, and assist the donor in fulfilling their philanthropic goals, without pressure or undue influence. CFGV Staff or any person acting for or on CFGV’s behalf will comply with the “Model Standards of Practice for the Charitable Gift Planner” (https://charitablegiftplanners.org/standards/model-standards-practice-charitable-gift-planner) and the “Donor Bill of Rights” (https://afpglobal.org/donor-bill-rights).

CFGV seeks the advice of legal counsel in matters relating to the acceptance of gifts when appropriate. All prospective donors of gifts other than outright gifts of cash or publicly traded securities are encouraged to consult with legal counsel and/or financial advisors in matters relating to their gifts and the resulting tax and estate planning consequences.

In particular, donors should be made aware of the irrevocability of a gift, CFGV Board of Director’s power of variance, and, as appropriate, applicable CFGV policies and guidelines, including, but not limited to, the Investment Policy, Donor Advised Fund Guidelines, Grant-Making Due Diligence and Expenditure Responsibility Policy, Donor Initiated Fundraising Guidelines, and Administrative Fee Schedule, as amended from time to time.

Gifts Not Intended to Establish Funds

CFGV accepts gifts into all component funds to which a donor may want to contribute. Gifts that are given that are intended to support a specific fund or cause and not to establish a fund will be accepted in accordance with the provisions contained within this policy. When appropriate, CFGV may elect to enter into some sort of agreement to facilitate acceptance of the gift.

Gifts Intended to Establish Funds

The purpose of a gift to CFGV to establish a fund will be defined in a written fund agreement or deferred gift instrument signed by the donor, or his or her appointed representative and the Executive Director or an officer of CFGV.

It is the policy of CFGV to develop a signed fund agreement prior to receiving a current outright gift to establish a fund valued at more than $5,000, or in the case of a planned gift in which the donor is living, as soon as possible once CFGV becomes aware of its existence.

Standard fund agreements which have been approved by legal counsel may be used. Individual fund agreements will be prepared and reviewed by Staff and/or legal counsel of CFGV.

Funds remain permanently in the name of the donor (or a name the donor chooses), and CFGV provides all the administrative support to honor the donor’s philanthropic intent, provided that neither the name nor the intent violate the Integrity of a Gift or Fund section of this Policy. Of course, any donor who wishes to remain anonymous may do so.

Gift and Fund Acceptance Committee 

In general, CFGV Staff is authorized by the Board to accept new gifts and funds subject to the policies outlined herein.

To assist Staff in the evaluation of complex gifts and funds, the Board of Directors from time to time authorizes the creation of an Ad Hoc committee, to be known as the Gift and Fund Acceptance Committee (“Committee”). The Committee has the responsibility to consider and accept or reject complex gifts and funds. Members of the Gift and Fund Acceptance Committee will be considered voting members regardless of whether they sit on the Board. The Committee shall minimally consist of the following; however, a simple majority of the Committee must be members of the Board:

  • The President of the Board
  • The Treasurer of the Board
  • A minimum of three (3) other Board members, Advisory Council members, or members of the community with relevant expertise or knowledge as appointed by the President
  • Ex-Officio member(s) include the Executive Director and any other current staff member(s) as deemed appropriate.

The Staff and Committee are charged with ensuring that gifts received are consistent with these policies and with State and Federal law and IRS Guidelines, and that they are in the best interest of CFGV. Committee members reach agreement by simple majority of voting members, with the assistance of advisory members who have expertise in specific types of gifts. Committee members may also review proposed funds that may fall outside the ordinary scope of Staff expertise. Gifts requiring Committee review will be handled promptly and CFGV Staff will immediately notify donors if a gift is not accepted.

In the case of significant disagreement or hesitancy on the part of the Committee, the Committee may wish to present the proposed gift or fund in a confidential way to the CFGV Board of Directors for further consideration and determination.

 Restrictive Gifts

The purpose of a gift must fall within the broad charitable purposes of CFGV. Each proposed fund or gift will be considered on a case-by-case basis. CFGV reserves the right to accept or decline any proposed fund or gift to the organization. CFGV will not accept gifts that are too restrictive in purpose, gifts that are too difficult to administer, or gifts that are outside the mission of CFGV. All final decisions on the restrictive nature of a gift, and its acceptance or refusal, will be made by the Board of Directors, and, in the case of complex gifts, after presentation by the Gift and Fund Acceptance Committee, in consultation with the Executive Director.

Authority to Negotiate and Sign Gift Agreements

CFGV’s Executive Director will have the authority to handle inquiries, negotiate with donors, assemble documentation, retain expert and technical consultants, and execute agreements on the organization’s behalf.

Gifts Which Do Not Require Review

Gifts received in the following forms can be accepted by CFGV Staff and will not require prior review and approval by the Committee:

  • Cash or cash equivalents and checks

CFGV accepts cash, checks, wire transfers or money orders made payable to the Community Foundation of the Gunnison Valley or any of its funds.

  • Publicly Traded Securities

CFGV accepts publicly traded securities. The proceeds from the sale of publicly traded security contributions will be added to the appropriate fund. In the event CFGV receives actual stock certificates, these should be properly endorsed by the donor and CFGV.

Note: Often the value of the gift of securities as recorded when received (calculated by averaging the high and low values of a share on the trading day the shares are received, multiplied by the number of shares received) differs from the value of the securities when sold. In accordance with Generally Accepted Accounting Principles, the difference in value, whether positive or negative, shall be absorbed by the fund to which the donation was made. In the case of pass-through gifts of stock, any difference in value will be reflected in the grant to the receiving entity, i.e., if the sale value is lower, the pass-through grant amount, less any fees, will reflect the loss in value; if the sale value is higher, the grant amount, less any fees, will include the increase in value.

It is the general policy of CFGV to sell marketable securities immediately upon receiving them, unless otherwise directed by the Investment Committee. CFGV’s Board and Investment Committee governs the disposition of securities and makes all decisions regarding the sale or retention of securities. In some cases, securities may be restricted by applicable securities law; in such instances, the final determination of the acceptance of the restricted securities will be made by the CFGV’s Gift and Fund Acceptance Committee.

Gifts Which Require Review and Approval by the Committee

Gifts received in the following forms must be reviewed and approval by the Committee:

  • Closely Held Stock

Donors wishing to make gifts of stock in a closely held corporation or S corporation must have it valued by a reputable independent accounting or appraisal company prior to making a contribution. If the stock is immediately marketable, it may be accepted and will be sold. If the stock is not immediately marketable, the Committee may recommend non-acceptance of the gift or may authorize that the stock be held by CFGV until it may be redeemed or sold for cash. If the stock is being contributed to a Donor Advised Fund, in order to be in compliance with Federal excess business holding rules, any gift that will result in excess business holdings must be analyzed by the Gift and Fund Acceptance Committee and will be considered for acceptance only if there is a written plan for divestiture within 5 years. The holdings of a Donor Advised Fund, together with the holdings of persons who are disqualified persons with regard to the fund, may not exceed 20 percent of the voting stock of an incorporated business, 20% of the profits interest of a partnership or joint venture, or the beneficial interest of a trust or similar entity, or any interest in a sole proprietorship. These limitations do not apply if the Donor Advised Fund holds an interest that does not exceed two percent of the voting stock and two percent of the value of the business.

  • Tangible personal property

Tangible personal property, examples of which include, but are not limited to; antiques, artwork, and vehicles may be accepted as a gift if: 1) the Committee determines that the property will be used in furtherance of the organization’s exempt purposes; or 2) CFGV will be able to sell the property. If the property is to be sold, CFGV will accept the gift only if it has sufficient value to justify the expenditures or resources required for such sale. If the value exceeds $5,000, the donor is required to have an appraisal done by a qualified appraiser as determined by the IRS and submit IRS Form 8283. If the property is sold within three years, IRS Form 8282 must be filed by CFGV, informing the donor and IRS of the sale price of the item(s)

  • Procedures for Accepting Personal Tangible Property
  • The Committee will review all prior appraisals and authentication documents, if any, relating to the property.
  • If the property is to be sold, CFGV will ascertain the market for such property and estimate the costs to be incurred in connection with the sale as well as the costs of holding the property prior to sale.
  • All costs incurred by CFGV in connection with the holding and sale of the property shall be charged against the sale proceeds, with the balance being credited to the fund to which the property has been contributed.
  • All tangible personal property shall be examined by the Committee with the following criteria in mind:
    • Is the property marketable?
    • Are there any undue restrictions on the use, display, or sale of the property?
    • Are there any carrying costs for the property?
  • Real property

If a donor wishes to contribute real property or an interest in real property to CFGV, whether as an outright gift or through a deferred giving arrangement, CFGV Staff and Gift and Fund Acceptance Committee will consider all facts and circumstances in determining whether to recommend accepting the gift. Donors will always be advised to confer with their own counsel to review the terms of the gift.

  • Policies and Procedures for the Acceptance of Gifts of Real Estate
  • Authority to Accept Gifts of Real Estate. The following officers are authorized to accept gifts of real estate that are permitted by these policies: The President of the Board or the Executive Director – only after review by the Committee.
  • Conditions for Acceptance. In general, it is the policy of CFGV to accept gifts of real estate only if they are to be sold within 12 months with the proceeds used for the general purposes of the organization, or as designated by the donor. CFGV reviews each proposed gift on an individual basis and may accept or reject any proposed gift. A gift of real estate may also be accepted under the following conditions on a case-by-case basis: if it is to be used by CFGV in connection with established or specifically approved programs or activities; or if it is to be held for the production of income.
  • Prohibited Transactions. CFGV will not accept property which would jeopardize its tax-exempt status or expose it to expenses for which no source of funds has been identified.
  • Conditions Affecting Acceptance
  • If the property is to be used by CFGV, it shall be in good physical condition. If it is not in compliance with applicable building, health, and safety codes, or requires repairs or improvements, a source of funds for the costs of bringing the property into compliance must be identified prior to acceptance.
  • The proposed use must be lawful and consistent with any previously approved CFGV strategic plans involving the use or acquisition of real property.
  • If the property is to be held to produce income, a pro forma positive cash flow analysis must compare favorably to the amount of income that would be obtained if the property were sold and the proceeds invested as a part of the general investment pool.
  • If the property is to be sold, it should be marketable within a reasonably short period of time. If the Board deems market conditions unfavorable to receive an acceptable/fair price within the 12-month period stated in “Conditions for Acceptance,” the full Board may vote to extend the 12 month holding limit as necessary as long as research deems there will be no harm to the donor. Acceptance of offers to purchase property from CFGV requires the signature of the Executive Director, or the Executive Director’s corporate legal delegate and the approval of the Gift and Fund Acceptance Committee.
  • CFGV, at this time, may carry back financing on a property sold. The future may dictate a change in this policy. The determination is made on a case-by-case basis.
  • If the property is commercial property, CFGV will weigh its ability to manage said property for the time necessary to sell the property. For example, income producing property may subject CFGV to unrelated business income tax and/or other types of expenses including but not limited to upkeep of land, maintenance of buildings and management of property.
    • Prior to formal acceptance, the following shall be obtained by CFGV Staff:
  • Preliminary title report covering the subject property (the title report shall reflect that title is vested in the donor on the form represented, and is subject to no claims, liabilities or major defects of title);
  • A suitable property valuation by a qualified appraiser as defined in the Pension Protection Act of 2006. The donor may be asked to pay the costs associated with obtaining any necessary final appraisal;
  • A list of improvements to the property;
  • A current list of leases, if any;
  • A list of encumbrances, mortgages, liens, and current expenses, if any;
  • A commitment for title insurance;
  • A professional physical inspection of the property by a consultant to CFGV; and
  • The Colorado Real Estate Commission Seller’s Disclosure Form (supplied by donor).

Conditional acceptance may be made subject to satisfactory completion of each of the foregoing.

  • Hazardous Waste Considerations. If deemed necessary, prior to formal acceptance, a Stage I Environmental Assessment must be made by an individual or firm competent to advise CFGV whether further investigation is needed.
  • Grant Deed. Upon acceptance of the gift of real estate, it is the responsibility of the Gift and Fund Acceptance Committee and the Executive Director to insure that the warranty deed is properly conveyed to CFGV. This includes having the donor sign the deed and recording it with the appropriate county. All closing paperwork shall be handled by a title company or attorney. The Executive Director or the Executive Director’s legal delegate has the responsibility for the proper safeguarding of all deeds.
  • Internal Revenue Service Form 8283. The Internal Revenue Service requires that Form 8283 be completed so as to be filed with the donor’s tax return. Upon acceptance of the gift, the Executive Director or the Executive Director’s delegate shall be responsible for completing the “Donee Acknowledgement section” of IRS Form 8283, mailing the original form to the donor and a copy subsequently filed.
  • Internal Revenue Service Form 8282. The Internal Revenue Service requires that Form 8282 be completed and filed (with respect to any real estate for which a Form 8283 has been filed) when that property is disposed of by the donee institution within three years of the date of gift. Upon disposition, CFGV will be responsible for filing Form 8282 in a timely manner.
  • Maintenance, Upkeep, Insurance, etc. Prior to acceptance of any gift of real estate, a source of funds must be identified for maintenance, upkeep, insurance, etc. of the donated property. It is advisable to ask the donor for funds to meet these costs if it is anticipated that CFGV will hold the property for longer than six months prior to sale. 
  • Life Estates
    • Simple Life Estate Agreements. In the case of property donated to CFGV subject to a life estate, the life tenant shall enter into an agreement in writing providing that the life tenant shall pay all the costs of maintenance and upkeep of the property including but not limited to repairs, improvements, taxes, insurance, etc. CFGV’s life estate agreement will be attached to said document.
    • Cost Recovery. Funds to cover costs such as appraisals, hazardous substance assessments, taxes, insurance, maintenance, and unanticipated expenses may be advanced from other funds of CFGV and recovered at the time disposition of the property is made. The cost of recovery shall include interest on CFGV funds, normally equal to earnings of funds operating as an endowment. Donors shall be advised of this policy.
  • Documentation of Acceptance of Property. It is the responsibility of the Executive Director to secure acceptance from any of those parties authorized to accept property and assure documentation of acceptance. Documentation may be in the form of a memo to the file or more formally by letter.
  • Death of Donor. Upon the death of the donor,or beneficiary, CFGV may use the property or reduce it to cash. Where CFGV receives a gift of a remainder interest, expenses for maintenance, real estate taxes, and any property indebtedness are to be paid by the donor’s estate.
  • Exception Procedure. Exceptions to these policies may be made by the Executive Director or the Executive Director’s legal delegate when such exceptions are deemed to be in the best interest of the organization. Such exceptions shall be in writing and set for the basis of the exception. 
  • Partnership Interest

CFGV generally does not accept gifts of general partnership, limited partnership, or limited liability company interests.

  • Bargain Sales

CFGV does not participate in bargain sales, defined as when a donor sells property to a charitable organization for less than its fair market value, at the time of the review of this policy but reserves the right to add bargain sales to the policy later in keeping with the guidelines for changing policy. 

  • Planned Gifts

CFGV’s planned giving program encompasses all types of gifts whose benefits do not fully accrue to CFGV until some future time (such as the death of the donor or other income beneficiaries or the expiration of a predetermined period of time) or whose benefits to CFGV are then followed by the interests of noncharitable beneficiaries. Any bequests received without known restriction by the donor will be allocated according to the Unexpected Gifts provision below. The types of planned giving opportunities accepted by CFGV are:

  • Gifts by Will or Living Trust. CFGV encourages donors and supporters to make bequests to CFGV under their wills and trusts. CFGV encourages such donors to contact CFGV during their lifetime to discuss their charitable intent. Sample bequest language is available; however, donors are encouraged to consult a professional advisor for additional assistance. CFGV may not be named as Executor for a donor in their will and will not serve if named. CFGV may create a named fund in memory of the donor if there is no stipulation for anonymity.
  • Gifts of Life Insurance. CFGV may accept gifts of life insurance policies so long as: (a) the policy is not encumbered (i.e., there is no outstanding loan against the policy); and (b) CFGV is made the policy’s owner and primary beneficiary. When premium payments can no longer be made because there is insufficient value in the policy to keep it in force, or because CFGV chooses to discontinue premium payments, the policy will be surrendered. CFGV may accept gifts of life insurance policies in any amount to any existing fund. Each gift of life insurance policy giving rise to a charitable deduction of more than $5,000 must be appraised in accordance with federal tax law.
  • Charitable Remainder Trust. CFGV may accept designation as remainder beneficiary of a charitable remainder trust. CFGV will not accept appointment as Trustee of a charitable remainder trust.
  • Charitable Lead Trust. CFGV may accept designation as income beneficiary of a charitable lead trust. CFGV will not accept appointment as Trustee of a charitable lead trust.
  • Gift Annuities. CFGV does not participate in gift annuities at the time of review of this policy but reserves the right to add gift annuities to the policy at a later time in keeping with the guidelines for changing policy.
  • Retirement Plan Beneficiary Designation. Donors may make lifetime gifts of retirement assets or name CFGV as the beneficiary of their plan. Retirement plans include, but are not limited to, Individual Retirement Accounts (IRA), 401(k), 403(b), and defined contribution plans. Note that gifts from IRAs cannot be contributed to or establish Donor Advised Funds.
  • Cryptocurrency

CFGV may accept a donation of cryptocurrency after due diligence is performed to determine that the asset is able to be transferred and liquidated. Policies and procedures for the acceptance of gifts of cryptocurrency will be determined by the Gift and Fund Acceptance Committee upon accepting the first gift of crypto, and this policy will be amended to include those policies and procedures at that time.

  • Other Gifts

CFGV may receive an offer of a gift that this policy does not address as it is currently written. CFGV Staff, the Committee, and/or the Board reserve the right to review any gift as deemed appropriate and may amend this Policy accordingly if deemed necessary before accepting such gift.

Gifts Whose Structures Fall Outside CFGV’s Ordinary Purposes, Bylaws, and Procedures 

  • Excess Business Holdings with regard to Donor Advised Funds. The Pension Protection Act of 2006 amended section 4943 of the Internal Revenue Code to limit ownership of closely-held business interests in a Donor Advised Fund. A fund’s holdings, together with the holdings of disqualified persons (donor, advisor, members of their families and businesses they control), may not exceed any of the following:
  • 20% of the voting stock of an incorporated business;
  • 20% of the profits interest of a partnership, joint venture, or the beneficial interest in a trust or similar entity;
  • Any interest in a sole proprietorship.

These limitations do not apply if the Donor Advised Fund holds an interest that does not exceed two percent of the voting stock and two percent of the value of the business.

Donor Advised Funds receiving gifts of interests in a business enterprise have five years from the receipt of the interest to divest holdings that are above the permitted amount, with the possibility of an additional five years if approved by the Secretary of the Treasury. To prevent a violation of these rules, it is CFGV’s policy to divest itself of such holdings within five years from the date the asset is acquired. If that is not possible, the asset will be transferred to a new or existing fund that is not an advised fund.

Unexpected Gifts

Unexpected and unrestricted gifts received without prior notification or proper documentation of less than $25,000 shall be allocated by CFGV Staff according to what is most urgently needed at the time. Unexpected and undesignated gifts received without prior notification or proper documentation of $25,000-$50,000shall be allocated as follows:

  • 45% to Charter Fund (or current grantmaking endowment)
  • 45% to Forever Fund (or current unrestricted endowment)
  • 10% to Operating Fund

Any unexpected and undesignated gifts received without prior notification or proper documentation over $50,000 are referred to the Finance Committee for their recommended allocation using the above as suggested protocol as a basis of discussion.

Gifts of Unknown Origin

Gifts of unknown origin or purpose will be held in the Community Foundation Transfer Fund (or similar pass-through fund), without an administrative fee being applied, until the donor and purpose is identified or for a period of 12 months. If after that time the donor and purpose of the gift is still unknown, it shall be moved into the Forever Fund and the applicable administrative fees, in accordance with the Administrative Fee Schedule as amended from time to time, shall be applied.

If a gift of unknown origin has been moved to the Forever Fund and the donor and/or intent is later identified, CFGV Staff will consult with the donor, when possible, and attempt to honor the intent of the gift as closely as possible. CFGV reserves the right to waive this provision if a large amount of time has passed, if it is no longer possible to honor the intent, if the intent is no longer aligned with CFGV’s charitable purpose, or if the donor is no longer living.

Integrity of a Gift or Fund

When accepting a gift, establishing a fund, or naming a fund, the integrity and reputation of CFGV must be protected. As such, CFGV reserves the right to reject a gift, fund, or name of a fund, or to rename an existing fund, when the reputation of the donor or the named honoree becomes blemished [or tarnished or damaged…?], and an association with such donor or named honoree may reflect poorly on the organization. Circumstances under which a reputation may become blemished include:

  • When an individual, group, or organization is determined to have acted in a manner that is in violation of Federal and/or State law, whether before or after the gift or fund was accepted or named.
  • When an individual, group, or organization has acted in a manner that is inconsistent with CFGV’s values and mission, whether before or after the gift or fund was accepted or named.
  • When the gift is determined or suspected to have been derived by illegal or dubious means, or by means that are inconsistent with CFGV’s values and mission.

If CFGV becomes aware of a situation under which a gift, fund, or name of a fund should be rejected, or if an existing fund should be renamed, the Executive Director will work with the Board President to determine if there is enough evidence and/or cause to justify such an action, and they may, at their discretion, consult the Executive Committee if deemed appropriate to assist in the determination.

If the Executive Director and Board President, or the Executive Committee when appropriate, determines that a gift, fund, or name of a fund must be rejected, or if an existing fund must be renamed, CFGV will notify the donor, when possible and appropriate, of the determination. Note: donors do not have the right to demand the return of assets of a renamed existing fund since all gifts made to CFGV are irrevocable, and any right or claim the donor may have had to the assets was forfeited upon the transfer of the assets.

Miscellaneous Provisions

  • CFGV shall acknowledge all accepted gifts in compliance with the current IRS requirements in acknowledgement of such gifts.
  • Appraisals and Legal Fees. It will be the responsibility of the donor to secure an appraisal where required and independent legal counsel when necessary for all gifts made to CFGV. CFGV does not pay legal, accounting, or appraisal fees for any future gift.
  • CFGV will record a gift received at its valuation for gift purposes on the date the gift is completed.
  • Illiquid Assets. In connection with the acceptance of illiquid assets, CFGV may incur costs such as unrelated business income tax, fees, or commissions associated with the sale or liquidation of assets, asset management and holding costs, consultant fees, or other expenses outside the normal scope of CFGV’s administrative costs. Accordingly, as a condition of CFGV’s acceptance of the gift, CFGV may require a pledge or other written agreement between the donor and CFGV that provides for the payment of all or a portion of any such costs or expenses, including unrelated business income taxes, to the extent there is insufficient cash in the donor’s fund to which the asset(s) have been donated to cover such costs.

Investment of Gifts

  • The Board of Directors and the Investment Committee reserve the right to make any and all investment decisions regarding gifts received.
  • In making a gift to CFGV, donors give up all rights, title, and interest to the assets contributed. In particular, donors give up the right to choose investments and investment managers or brokers, or to veto investment choices for their gifts.
    • However, when the size of a fund warrants separate investment consideration, and when otherwise permitted by law, CFGV will endeavor to accommodate requests from donors for separate investment of fund assets, or use a particular investment manager, broker, or agent in accordance with CFGV’s Investment Policy, and may consult with donors on investment options for such fund. 

Changes to Gift and Fund Acceptance Policies

These policies and guidelines have been accepted by the Board of Directors of CFGV. The Board of Directors must approve any changes to or deviations from these policies.

Exception: when IRS regulations change, the then current IRS policies shall become part of these policies replacing those attached the day of initial approval of the Board of Directors, without action of the Board.

Amended by the Board on September 12, 2024

ATTACHMENTS

Model Standards of Practice of the Charitable Gift Planner
IRS Form 8282 and Instructions as of date of approval of any Gift
IRS Form 8283 and Instructions as of date of approval of any Gift
IRS Publication 561 Determining the Value of Donated Property as of date of approval of any Gift
IRS Publication 526 Charitable Contributions as of date of approval of any Gift