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Gift Acceptance Policy

Summary of policy

ZERO Prostate Cancer (ZERO) appreciates and depends upon the generosity of our donors, champions, corporations, and foundations to support the organization’s mission. Gifts to ZERO can take many forms and serve different purposes. In order to be assured that ZERO is a responsible steward of these gifts and that these gifts are in the best interest of the organization, the following principles, processes, and guidelines govern the acceptance of gifts made to ZERO. The purpose of this policy is to define at a high level the principles by which gifts will be accepted. The principles and procedures presented in the document serve the purpose to:

  • Ensure that tax-deductible gifts are received in a manner consistent with the Internal Revenue Code and do not jeopardize the tax-exempt status of ZERO Prostate Cancer;
  • Minimize ZERO’s incurrence of potential liabilities;
  • Limit the acceptance of gifts that are difficult to administer and inconsistent with ZERO’s investment policy which is designed to ensure funds for operations for current and future years.

Guiding principles of the policy

This policy shall be implemented and overseen by the Chief Development Officer, as set forth in further detail below. Gifts to ZERO will be determined to be acceptable based on the following principles:

  • Support of mission – All gifts must be in support of ZERO's mission to end prostate cancer and help all who are impacted. ZERO advances research, provides support, and creates solutions to achieve health equity to meet the most critical needs of our community.
  • Reputation and core values – ZERO will not accept a gift that may damage or compromise its reputation, is not in the best interests of the ZERO community, or is not consistent with ZERO's core values.
  • Philanthropic intent – Gifts to ZERO are given expressly with a philanthropic intent and should not be granted with any degree of expected benefit or influence over ZERO’s activities in return for the gift. The gift is wholly owned and controlled by ZERO once it is received.
  • Undue burden – While ZERO appreciates all gifts, we cannot accept a gift that imposes an unreasonable or undue financial, legal, or administrative burden on ZERO or its staff, board members, or other resources.
  • Equal opportunity – ZERO does not accept gifts restricted to purposes or programs which involve discrimination based upon the organization’s non-discrimination policy or any other basis prohibited by federal, state, and local laws and regulations.

ZERO does not provide personal legal, financial, or other professional advice to donors or prospective donors. Donors and prospective donors are strongly urged to seek the assistance of their own professional advisors in matters relating to their gifts and the resulting tax and estate planning consequences. ZERO will seek the advice of legal counsel in matters relating to the acceptance of gifts when deemed appropriate

Gift acceptance

The following gifts may be considered for acceptance by ZERO:

  • Cash donations. Cash gifts are acceptable in any form including by check, credit/debit card, ACH, Cryptocurrencies, Venmo, online payment processing, cash, etc.
  • Professional services. (signage design, website development, event marketing, sponsorships, etc.)
  • Donation pledge agreements signed by both the donor and ZERO designated staff member
  • Publicly traded and closely held securities
  • Bequests and beneficiary designations under revocable trusts, life insurance policies, commercial annuities, and retirement plans. Donors are encouraged to make bequests to ZERO under their wills, and to name ZERO as the beneficiary under trusts, life insurance policies, commercial annuities, and retirement plans.
  • Charitable remainder trusts. ZERO will accept designation as a remainder beneficiary of charitable remainder trusts
  • Charitable lead trusts. ZERO will accept designation as an income beneficiary of charitable lead trusts.
  • Life insurance, life insurance beneficiary designations, or bequests. In the case of life insurance, ZERO must be named as both beneficiary and irrevocable owner of an insurance policy before a life insurance policy can be recorded as a gift. If the donor contributes future premium payments, ZERO will include the entire amount of the additional premium payment as a gift in the year that it is made.

Gifts accepted subject to prior review

Certain forms of gifts or donated properties may be subject to review prior to acceptance per the Chief Development Officer. Examples of gifts subject to prior review include, but are not limited to:

  • Tangible Personal Property. The Development Team will evaluate and determine whether to accept any gifts of tangible personal property (including an automobile donation)
  • Life Insurance. ZERO will accept gifts of life insurance where ZERO is named as both beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay, before due, any future premium payments owing on the policy.
  • Real Estate. All gifts of real estate are subject to review by the Development Team. Conditions of real estate include covenants, restrictions, easements, carrying costs (including insurance, property taxes, mortgages, notes, or the like) or maintenance expenses associated with the property.

Restrictions on gifts

ZERO reserves the right to refuse any gift that it deems too restrictive in purpose, or not in the organization’s best interest. The acceptance of a questionable gift or any decision to fulfill a questionable request from a donor will be brought to the Chief Development Officer and in some instances the Chief Executive Officer. The following are examples of, but are not limited to, gifts that ZERO will not accept if they:

  • would result in ZERO violating its corporate mission or articles of incorporation;
  • would result in ZERO losing its status as an IRC § 501(c)(3) not-for-profit organization;
  • are too difficult or too expensive to administer in relation to their value;
  • any gifts that contain unreasonable conditions or partial interest in property;
  • would result in any unacceptable consequences for ZERO;
  • are for purposes outside ZERO’s mission. The Chief Development Officer will make decisions on the nature of a gift, and its acceptance or refusal;
  • any gifts that violate federal, state, or local law, statute, or ordinance;
  • any gifts that are made with conditions that state the proceeds will be spent by ZERO for the personal benefit of a named individual;
  • any gifts that could expose ZERO to liability;
  • subject the organization to adverse publicity; or
  • involve any conflicts of interest.

Gift policy review

The Development Team will evaluate the acceptance policy periodically and will consult with legal counsel for inquiries and concerns.