Gift Acceptance Policy

(UNIFIED) BEN HILL U.M.C. GIFT ACCEPTANCE POLICY

I. BACKGROUND

The teachings of Jesus and all of the Holy Scriptures promote stewardship as fundamental to our Christian faith. Our Judeo-Christian heritage leads to an understanding of stewardship as the responsible gratitude and relationship of trust for all of God’s many blessings. A faithful response to this mandate includes a commitment to the highest ideals of stewardship by all parties to charitable giving, including the donor as well as to the recipient ministry.

In order to insure that such ideals are pursued for all gifts, the Ben Hill UMC Board of Trustees (BOT), the Legacy Endowment Giving (LEG) Committee and the Finance Committee commit themselves to responsible administration of all prospective gifts. The Ben Hill UMC BOT understands this commitment to include careful examination of the actual condition, use and benefit of the gift, taking into consideration all legal, ethical and practical aspects. It is from this foundational understanding of stewardship that the Ben Hill UMC hereby amends and adopts the Ben Hill UMC Gift Acceptance Policy.

II. GENERAL PRINCIPLES

1. Ben Hill UMC appreciates the spirit of giving inherent in each donor’s prospective gift and thanks each donor for their thoughts and intentions.

2. Ben Hill UMC wishes to work to make all gifts possible, within the strictures of law, tax regulations, and practicalities.

3. Ben Hill UMC wishes to honor the intent of the donor where possible.

4. Ben Hill UMC wishes to protect the assets entrusted to it.

5. Ben Hill UMC acknowledges that all donations are recorded in a data base maintained by the Ben Hill UMC Finance Office.

6. Ben Hill UMC acknowledges that the goal of the Legacy Endowment Giving Committee, as instructed by the Church Conference, is to encourage funding of the Legacy Endowment Fund to assist in growing the Church for generations to come.

III. PURPOSE

In order to protect the interests of the Church and the persons and other entities who support its programs, these policies are designed to assure that all gifts to the Church, or for the use of the Church, are structured to provide maximum benefit to both parties.

This document provides guidance on current and deferred (End of Life) gifts, including gifts of non-cash property. One goal is to encourage funding and growth of the Ben Hill Legacy Endowment Fund without encumbering the Church with gifts which may prove to generate more cost than benefit, or which are restricted in a manner that is not in keeping with the goals of the Church.

To optimize funding from individuals and other entities, the Church must be capable of responding quickly, and in the affirmative where possible, to all gifts offered by prospective donors. Except where stated otherwise, these policies are intended as guidelines only. Flexibility must be maintained since some gift situations can be complex and decisions only made after careful consideration of a number of interrelated factors. Therefore, these policies may in some instances require that the merits of a particular gift be considered by the BOT, the LEG Committee and the Finance Committee, with a final decision being made by the BOT.

The BOT and the LEG Committee reserve the right to decline or otherwise refuse any gift offered to the church, with or without cause. Reasons for which a gift may be declined include, but are not limited to the following:

1. The BOT and the LEG Committee do not believe it is in the best interest of the Church or the Fund to abide by the restrictions placed on the gift by the donor.

2. The costs to maintain the gift or to meet the restrictions placed on the gift by the donor are considered to be excessive for the Church.

3. The gift is considered to be inappropriate or unrelated to the tax-exempt purposes of the Church or the Legacy Endowment Fund.

4. The gift is designated to benefit or to be channeled to a specific individual.

IV. GIFT ACCEPTANCE TERMS AND CONDITIONS

1. Donors should confirm their gift in writing for approval and subsequent recorded inventory by completing:

   • The Gift Donation Form attached as Exhibit A to this Gift Acceptance Policy; or

   • The Legacy Endowment Gift Confirmation Form attached as Exhibit B to this Gift Acceptance Policy.

2. All gifts will be reviewed by the BOT and/or other appropriate committee for acceptability, resulting in specific recommendations for action.

3. All gifts will be acknowledged in a dated letter from the Ben Hill UMC Finance Office, which will include a description of the gift and of any terms and conditions of the gift acceptance. The donor has the sole responsibility to the Internal Revenue Service for identifying the value of any non-cash gift.

4. All information concerning donors and prospective donors, including their names, names of beneficiaries, the amount and type of the gift, aspects relating to their estates, etc., shall be kept strictly confidential except when donors permit the release of such information. The above excludes obtaining written permission for nominal honorary and memorial gifts.

5. The BOT or other appropriate committee may seek legal counsel for the review of certain gifts or transactions if they believe use of counsel is necessary.

6. The Finance Office will keep an accounting of all accepted gifts. A summary report will be prepared annually for the Charge Conference.

V. TYPES OF GIFTS

1. CASH

   • Gifts in the form of cash, checks or electronic funds may be accepted in any amount. Cash gifts for specified reasons other than tithes, offerings, and specific Church projects, will be specified and deposited in the General Fund.

   • All checks must be payable to Ben Hill UMC and in no event shall they be made payable to an employee, agent, or volunteer for credit to the Church.

2. PUBLICLY TRADED SECURITIES

Securities that are traded on the exchanges may be accepted by the Church. The BOT shall make the decision to keep or sell the security.

3. CLOSELY HELD SECURITIES

Non-publicly traded securities may be accepted upon approval by the Trustees. The BOT shall make the decision to keep or sell the security.

4. REAL PROPERTY

   • All gifts of real property must have the approval of the Board of Trustees.

   • Prior to approval, the BOT shall make a recommendation for accepting the real estate and shall prepare a report on (but not limited to) the following:

     1. current title and ownership;

     2. current zoning;

     3. any and all restrictions;

     4. any encumbrances, including an Affidavit of Lien signed by the Donor;

     5. an independent qualified third-party appraisal;

     6. at least a Phase I environmental audit;

     7. a recommendation on marketability for sale;

   • The BOT shall make the final decision to keep or sell the property.

5. TANGIBLE PERSONAL PROPERTY

   • All gifts of personal property must have the approval of the BOT prior to acceptance and a cash value in excess of $1,000.

   • Prior to approval, the BOT shall make a recommendation for accepting the personal property and shall include a report on (but not limited to) the following:

     1. current title and ownership

     2. an independent qualified third party appraisal

     3. a recommendation on marketability

   • The BOT shall make the final decision to keep or sell the property.

6. OTHER PROPERTY

The BOT shall make the decision to accept or decline and to keep or sell any other property that it may deem to be in the interest of the Church.

VI. PLANNED (DEFERRED) GIFTS - END-OF-LIFE

To support the growth of the Ben Hill UMC Legacy Endowment Fund, fifty percent (50%) of all End-of-Life gifts to the church not designated for a specific church project or ministry will be deposited into the Ben Hill UMC Legacy Endowment Fund.

All gifts will be acknowledged in a dated letter from the Controller, which will include a description of the gift and of any terms and conditions of the gift acceptance.

All information concerning donors and prospective donors, including their names, names of beneficiaries, the amount and type of the gift, aspects relating to their estates, etc., shall be kept strictly confidential except when donors permit the release of such information. The above excludes obtaining written permission for nominal honorary and memorial gifts.

1. BEQUESTS

   • Gifts through wills (bequests) shall be actively encouraged by the Church.

   • Upon inquiry by a prospective donor, all representations as to the future acceptability of various properties to be left to the Church in a will or other deferred gift shall be made in accordance with the terms and provisions of this document.

   • Gifts of property that are not acceptable from estates shall be declined by the BOT and that decision shall be communicated to the legal representatives of the estate.

2. REVOCABLE LIVING TRUSTS AND CHARITABLE TRUSTS

   • The LEG Committee will recommend as fiduciary the Georgia United Methodist Foundation or other fiduciary as approved by the BOT.

   • The fees for management of a Charitable Remainder Trust will not normally be paid by the Church; however, upon approval by a majority of the BOT, these fees may be paid by the Church. The fees for management of a Revocable Living Trust will not be paid by the Church under any circumstances.

   • Revocable Living Trusts and Charitable Remainder Trusts and all other deferred gifts shall be encouraged as a method of making gifts to the Church while retaining income which may be needed by the donor for personal purposes.

   • No representations as to the manner in which trust assets will be managed or invested shall be made by any employee or other persons acting on behalf of the Church.

3. LIFE ESTATE GIFTS

The BOT may accept such gifts provided that there has been a full disclosure of the possible ramifications of the transaction to the donor.

4. LIFE INSURANCE POLICIES

   • The Church will encourage donors to name Ben Hill UMC as beneficiary of life insurance policies that they have purchased.

   • The Church will not accept gifts from donors for the purpose of purchasing life insurance on the donor's life.

   • No insurance products will be endorsed for use in funding gifts to the Church.

   • In no event shall lists of Church donors' names be furnished to anyone for the purpose of marketing life insurance for the benefit of donors and/or the Church.

5. GIFT ANNUITIES

The Church will accept Charitable Gift Annuities purchased from the Georgia United Methodist Foundation or other financial institutions as approved by the BOT.

VII. PAYMENT OF FEES RELATED TO GIFTS TO THE CHURCH

1. FINDER'S FEES OR COMMISSIONS

   • No fees shall be paid to anyone as consideration for directing a gift to the Church.

2. PROFESSIONAL FEES

   • In general, the donor shall pay any fees associated with the gift.

   • No fees shall be paid by the Church to anyone as compensation for any sale of any products to the donor.

VIII. AMENDMENT

• This policy may be amended in accordance with the established amendment process for the Board of Trustees. Any questions regarding this policy should be referred to the Board of Trustees.

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