Any unencumbered real estate will be accepted at fair market value as established by at least one qualified appraisal. As a general rule, real estate valued at less than $25,000 will not be accepted. Before acceptance of real estate as a gift, the Foundation and the donor must agree in writing on arrangements for paying expenses associated with the property prior to sale, such as taxes, environmental evaluations, insurance, and maintenance and cannot be legally obligated as to the disposition of the property following the gift. This version of donation is accepted with board approval only.
Tangible Personal Property
Tangible property may be accepted as a gift. The Foundation and donor must comply with Treasury regulations for obtaining and reporting qualified appraisals. This type of donation is only accepted with board approval.
Life Insurance Policy
The Foundation may accept gifts of life insurance policies where we are named as both owner and beneficiary. Prior to accepting a policy requiring ongoing premium payment, the Foundation shall reserve the right to decide the policy future in the event the donor defaults on premium payments. This type of donation is accepted with board approval only.
The acceptability of a gift of a limited partnership interest will depend on the ultimate financial liability of the Foundation and the amount of management attention required. Each case will be evaluated prior to acceptance. This type of donation is accepted with board approval only.
Charitable Gift Annuities
Under a charitable gift annuity, a donor irrevocably transfers assets to the Foundation in exchange for a commitment by the Foundation to pay the donor or beneficiaries designated by the donor, a specified amount each year for the life or lives of the designated beneficiaries. The annuity payments can either commence immediately or commencement can be deferred to a later date specified by the donor. This type of donation is accepted with board approval only.