The mission of STFM Foundation (the “Foundation”) is to promote and develop support for STFM and its mission and goals. The Foundation is headquartered at 11400 Tomahawk Creek Parkway, Leawood, KS 66211. Its federal tax identification number is 51-0187107.
The purpose of the Foundation’s Gift Acceptance Policy (the “Policy”) is to govern the acceptance of gifts and to provide guidance to donors in completing gifts.
The scope of this Policy is limited to acceptance or non-acceptance of proposed gifts; it is not intended to cover disposition of property owned by the Foundation or donor recognition.
A gift is a voluntary transfer of assets from a person or an organization to the Foundation. The Foundation may accept or decline any gift.
The following criteria generally identify a gift:
- a gift is motivated by charitable intent;
- gifts are irrevocable transfers of assets;
- gifts are not generally subject to an exchange of consideration or other contractual duties between the Foundation and the donor, although objectives may be stated and funds may be restricted to a specific purpose;
- donors are not provided financial accountings; and
- a gift is not completed until it has been accepted by the Foundation, or in the case of securities, when deposited into the Foundation’s account.
Types of Acceptable Gifts
The Foundation accepts gifts in the form of cash, marketable securities or mutual fund shares. The Foundation does not accept split-interest gifts (such as charitable annuities) or gifts in the form of real estate, personal property, or non-public or restricted securities.
- Cash, Credit Cards and Checks
Cash, credit cards and checks may be accepted regardless of the amount. The value of any cash, credit card or check gift is its face value.
Securities that are actively traded on recognized stock exchanges and other readily marketable securities, including bonds and mutual funds, may be accepted as gifts by the Foundation.
The Foundation will acknowledge the receipt of all gifts in writing and in a manner which satisfies the IRS's substantiation requirements set forth in IRC Section 170(f) for the deduction of charitable gifts by individual donors.
Restricted and Unrestricted Gifts
Unrestricted gifts shall be encouraged unless 1) the donor indicates that he or she is only willing to make a restricted gift, or 2) the option of a restricted gift will otherwise significantly increase the chances of obtaining a gift from the donor.
In drafting instruments for the gift of restricted funds to the Foundation, donors and their advisors shall be encouraged to use language that would permit application of the gift to a more general purpose if at a future point in time the designated program no longer exists or fits with the priorities of the Foundation. Donors will be advised that any gift tied to naming or to a program not in existence at the time will be brought to the Trustees for review and approval.
All receipts from unrestricted bequests shall become a part of the Enhancement Fund Account unless the Foundation Executive Committee determines a particular unrestricted gift should be deposited in a different account.
The Foundation will not accept any gifts that:
- Contain a condition that is inconsistent with the mission of the Foundation as determined by the Foundation Trustees;
- Contain a condition that the proceeds will be spent by the organization for the personal benefit of a named individual or individuals;
- Require the organization to employ a specified person now or at a future date;
- Inhibit the organization from seeking gifts from other donors;
- Expose the organization to adverse publicity, litigation or other liabilities; or
- Require undue expenditures, or involve the organization in unexpected responsibilities because of their source, conditions, or purpose.
Provisions for planned gifts will be kept confidential unless approved otherwise by the donor.
Finder’s fees will not be paid to trust officers or attorneys, etc., for directing contributions to the Foundation.
Policy Amendment and Review
Responsibility for review of and recommended amendments to the Policy shall be that of the Executive Committee of the Foundation. To amend the Policy, a written amendment shall be prepared and submitted to the Board for review and approval.
Policy Effective Date
The Gift Acceptance Policy was adopted on April 10, 2012, and became effective on that date.