Gift Acceptance Guidelines - Sports World, INC.

Gift Acceptance Guidelines

Gift Acceptance Guidelines 

Gifts may be solicited and accepted from individuals, organizations, service groups, churches, corporations, foundations, and federal, state, and local governments. Gifts may be accepted only for programs consistent with the mission of Sports World. No gift can be received that limits or in any manner contradicts Sports World’s mission. Sports World is also unable to accept gifts with restrictions that are unduly burdensome to administer.

The most desirable gifts are those with few or no restrictions, as unrestricted funds allow Sports World to readily fund the highest priority items in its budget.

Professional Advisors

Various methods of gift giving can provide flexibility, security, and tax savings to donors. While staff at Sports World may provide personalized assistance to donors seeking to choose from the wide range of gift giving vehicles acceptable to Sports World, they are not able to give legal, tax, or financial advice to donors. Donors and prospective donors are encouraged to always confer with their own legal counsel, tax advisors, and/or financial advisors for opinions about the legal, tax, or other financial consequences to the donor/prospective donor for specific situations. 

Special Consideration

Regular gifts are accepted and administered through Sports World’s Development Department, with final authority to accept such gifts resting with Sports World’s President & CEO. Donors may negotiate planned giving arrangements with the President & CEO and/or Development Officer. Proposed gifts that may require undue expenditures or involve Sports World in unexpected responsibilities because of their source, conditions, or purposes may be reviewed by Sports World’s Board of Directors with advice and support from Sports World’s President & CEO, Development Officer, and the Controller. 

The following gift arrangements generally warrant a formal review by Sports World’s Board of Directors or Finance Committee:

  1. Gift arrangements with an immediate and/or identifiable future liability (i.e. payment of insurance premiums or extension of property patents) or other unusual responsibility, obligation, restriction or expense as determined by Sports World’s Development Department or President & CEO.
  2. All naming rights.
  3. Gifts exhibiting characteristics or public opinions potentially not in keeping with the mission and policy statements of Sports World.
  4. Restricted individual gifts with a monetary value greater than $1 million.
  5. Gifts of real property of any value, or gifts of personal tangible property with an estimated value exceeding $25,000.
  6. Any unique gift that does not appear in the “Types of Gifts” section of this document.

Donors are encouraged to note that in certain cases, including but not limited to gifts of real estate or tangible personal property, Sports World may look to the donor to bear certain expenses incurred in receiving, evaluating, or maintaining gifts.

Certain categories of donations are not acceptable as charitable gifts to Sports World. For example, gifts made with the condition that the proceeds will be spent by Sports World for the personal benefit of a named individual or individuals are generally not deductible as charitable contributions. Similarly, gifts must be designed and administered in a manner consistent with legal requirements.

Gifts that require Sports World to invest in or to manage assets will be reviewed by the Finance Committee for a recommendation to the Board of Directors. If accepted, they will be handled in a manner consistent with the investment policies of Sports World.

Types of Gifts 

Both immediate gifts and deferred gifts may be considered for acceptance by Sports World. 

  1. The following kinds of gifts may be considered for acceptance by Sports World: 

Immediate Gifts

  1. Cash
  2. Tangible personal property, including in-kind gifts
  3. Securities

Deferred Gifts

  1. Bequests
  2. Life Insurance/Life Insurance Beneficiary Designations
  3. Retirement Plan Beneficiary Designations
  4. Gifts Managed by a Third Party 

Other Gifts

  1. The following criteria apply to the acceptance of gifts in these categories:

Immediate or Deferred Gifts:

  1. Cash

Sports World accepts unrestricted gifts of cash. Cash maybe accepted in any negotiable form, including checks, credit cards, and online gifts. Checks may be made payable to Sports World and delivered or mailed to the Development Department at Sports World’s administrative office: 1919 S. Post Road, Indianapolis, IN 46239.

Memorial and Honorarium Gifts

Gifts given in honor or memory of a person are considered unrestricted unless otherwise indicated.

  1. Tangible Personal Property:

Gifts of tangible personal property will be reviewed on an individual basis by Sports World’s President & CEO, Director of Development, Public Relations, and, if necessary, the Board of Directors.

Guidelines for In-kind Gifts:

Sports World is happy to accept in-kind gifts based on the needs of the organization at the time the gift is offered. Donors wishing to make an in-kind donation are encouraged to contact the Development Officer to determine the current needs of the organization.

  1. Securities:

Sports World can accept publicly traded and closely held securities. All gifts of securities will be sold upon receipt.

Deferred Gifts: 

  1. Bequests

Donors and supporters of Sports World are encouraged to make bequests to Sports World under their wills and trusts. Sports World will accept restricted and unrestricted bequests. Restricted bequests must be reviewed and approved by Sports World’s Board of Directors to ensure they are keeping with the mission and policy statements of Sports World before acceptance. Sports World encourages donors thinking of naming Sports World as a beneficiary to speak with Sports World’s President & CEO or Development Officer about the structure of language used in beneficiary documents. Potential language includes the following:

 “I give, devise and bequeath to Sports World, a not-for-profit organization located in Indianapolis, ____(dollars or percentage of my estate) to be used for the benefit of the organization (at the organization’s discretion or as specified in a gift agreement on file at the organization).” 

Subject to desired and appropriate donor recognition, the development department shall maintain a confidential record of information about known provisions in wills for bequests to Sports World. 

  1. Life Insurance/Life Insurance Beneficiary Designations

Donors and supporters of Sports World are encouraged to name Sports World as owner, beneficiary, or contingent beneficiary of their life insurance policies. Donors who have named Sports World as owner, beneficiary, or contingent beneficiary of their life insurance policies are encouraged to inform Sports World of this decision so Sports World may appropriately recognize them.

  1. Retirement Plan Beneficiary Agreements

Donors and supporters of Sports World will be encouraged to name Sports World as Beneficiary of their retirement plans. Because Sports World would like the opportunity to recognize such gifts, donors are encouraged to inform Sports World about gifts made through retirement plan beneficiary agreements. All donors interested in giving through a retirement plan beneficiary agreement are encouraged to first contact Sports World’s President & CEO or Development Officer.

Other Gifts

Sports World is happy to discuss gifts other than those listed in this document. Anyone interested in giving an alternative gift may contact Sports World’s President & CEO and/or Development Officer.

The Role of Sports World Endowment Fund

Gifts of all types will be added to Sports World Endowment Fund unless specifically designated. Funds added to Sports World Endowment Fund are managed by Sports World’s Board of Directors and contain prudent restrictions that limit their use for daily operations.

Restricted Funds:

We welcome inquiries for restricted gifts. Acceptance of restricted funds rests with Sports World’s President & CEO, Development Officer, and Board of Directors. Sports World will accept such funds so long as the gift restrictions are legal, mission-oriented, and not unduly burdensome to administer.

Recognition and Logging of Gifts

All gifts will be recognized in a timely fashion following the finalization of a written gift agreement for major gifts and following receipt of gifts or commitment. Such recognition will be conducted using a variety of promotional and communication tools available to Sports World and will be conducted at the discretion of Sports World in consultation with the donor. Sports World will make every effort to recognize all gifts in a manner consistent with the donor’s wishes, including protecting donor anonymity if it is desired.

All gifts will be entered into the donor database and a thank you letter/receipt will be sent to the donor in a timely manner.

Confidentiality

Subject to this guide, any legal requirements, and appropriate gift recognition, all information concerning prospective donors, including names, addresses, names of beneficiaries, nature and value of estates, amounts of provisions, etc, will, if requested by the donor, be kept in strict confidence by Sports World, its authorized personnel, and assigned agents. Such information may further be used when a donor grants permission to use selected information for purposes of referral, testimonial, or example. Only authorized representatives of the donor may grant such permission.

Conflicts of Interest

Sports World representatives (members of the Board of Directors and staff) shall not enter into any charitable transaction with a perceived or real benefit to Sports World representatives. Each year, Sports World representatives complete a conflict of interest form, disclosing any personal or financial interests in a transaction that also involves Sports World. This form is available upon request.

In accordance with the AFP Code of Ethics, all Sports World staff are compensated at a salaried or hourly rate; at no time will any staff member receive a percentage of gifts secured or be compensated on a commission basis.