Has your organization accepted noncash donations? Chances are you have, and chances are you don’t have a gift acceptance policy in writing. While it may be hard to say “no, thank you” to well-meaning donors, there are times when that is exactly what you should do. A gift acceptance policy can help prevent unintended hardships related to noncash donations in several ways.
A policy can help you communicate to your donors why certain gifts are unacceptable. Maybe they are in contradiction with your values, or they come with added expenses (like property tax on land). It can also help staff members by providing guidance and wording to use when communicating with donors. In addition, the policy can state what the organization will do with certain donations. For example, a donation of stock will be sold within ten days. To be effective, the gift acceptance policy must be shared with donors and staff alike. Adopt yours today.