AL-BASIT FOUNDATION GIFT ACCEPTANCE POLICY
A. Purpose of the Gift Acceptance Policy
This document represents the policy (“Policy”) of the Al-Basit Foundation (“Foundation”) governing the solicitation and acceptance of gifts by the Foundation. The purpose of the Policy is to provide guidance for the Foundation’s board of directors, officers, staff, employees, and volunteers with respect to their responsibilities concerning gifts to the Foundation. The provisions of the Policy shall apply to all gifts received by the Foundation. The Policy serves to provide guidelines for the acceptance and stewardship of gifts and applies to all gifts received by the Foundation for any programs or services. Gifts cannot be accepted if they interfere with the mission, purpose or procedures of the Foundation.
Notwithstanding the foregoing, the Foundation, through its Board of Directors, reserves the right to revise or revoke the Policy at any time, and to make exceptions to the Policy. Any gift or donation that is inconsistent with the terms of the Policy may be subsequently rendered void or voidable by the Board of Directors. This Policy is reviewed annually and amended if needed.
The Foundation encourages donors to contact the Foundation directly with any questions regarding this policy.
B. The Al-Basit Foundation’s Mission Statement
Al-Basit Foundation’s mission is to serve the underprivileged worldwide by constructing water-wells, providing for needy orphans and aiding disaster relief efforts.
C. Types and Forms of Gifts the Al-Basit Foundation Will Accept
The Foundation seeks outright gifts that are consistent with its mission, values, policies, procedures, and applicable local, state, and federal laws. Generally, donations will be accepted (from individuals, partnerships, corporations, organizations, or other entities) without limitations unless acceptance of gifts from a specific source is inconsistent with the Foundation’s beliefs, values, and/or mission. The Foundation will not accept gifts from companies whose product (or behavior, actions, etc.) may be harmful to the Foundation or from any entity whose requests for public recognition are incompatible with the Foundation’s values. Gifts that violate a federal, state, or municipal law, bylaw or regulation, or any gifts that would compromise the Foundation’s status as a 501(c)(3) not-for-profit (under federal or state law) organization will not be accepted.
1. The Foundation does NOT accept donations from any non-profit organizations (501(c)(3) not-for-profit organizations), non-government organizations, or foundations.
2. The Foundation does not accept donations from any government entities, domestic (state, federal, or local) or international.
3. The Foundation does not support, work with, or endorse individuals, corporations, or organizations that discriminate on the basis of age, sex, race, religion, national origin, sexual orientation, or disability with respect to employment, volunteer participation, or the provision of services.
4. The Foundation is not affiliated with any religious organizations. Requests from religious organizations for sectarian purposes will not be considered; however, community development programs sponsored by a religious organization will be considered (e.g., a fresh water well for public use; or food pantry).
5. Requests that solicit financial support for individuals, political candidates, and political campaigns, or entities will not be considered. Additionally, the Foundation does not accept gifts from political parties in any nation, including the United States.
When considering whether to solicit or accept gifts, the Foundation shall evaluate the following factors:
1. Values – whether the acceptance of the gift compromises any core values of the Foundation
2. Compatibility – whether there is compatibility between the intent of the donor and the Foundation’s use of the gift
3. Public Relationships – whether acceptance of the gift damages the reputation of the Foundation
4. Primary Benefit – whether the primary benefit is to the Foundation, versus the donor
5. Consistency – whether acceptance of the gift is consistent with prior practice
6. Form of Gift – whether the gift is offered in a form that the Foundation can use without incurring substantial expense or difficulty
7. Effect on Future Giving – whether the gift will encourage or discourage future gifts
The Al-Basit Foundation only accepts unrestricted, outright gifts. All gifts received by the Foundation are considered unrestricted. An unrestricted gift may be used by the Foundation in accordance with its policies. The Foundation accepts unrestricted gifts and gifts for specific programs and purposes, provided that such gifts are not inconsistent with the Foundation’s stated mission, purposes, and priorities. An outright gift involves the donor’s voluntary and intentional transfer of money or assets to the Foundation without expectation of receiving a benefit related to the value of the transfer. The donor may NOT place restrictions on the use of the gift. The donor may NOT retain control over the money or property transferred to the Foundation.
The Foundation does not accept gifts that are restrictive in purpose. Restrictive gifts include those that are too difficult to administer or those that are given for purposes outside the mission of the Foundation. All final decisions on the restrictive nature of a gift, and its acceptance or refusal, are made by the Foundation’s Board of Directors.
The Foundation accepts cash, checks, money orders, and credit card payments. Other methods of payment may be approved on a case-by-case basis by the Foundation’s Board of Directors. (All checks should be made payable to “The Al-Basit Foundation” and should not be made payable to an employee or volunteer for credit to the Foundation. All Checks shall appropriately identify the donor.)
Regardless of the donor’s country of residence, acceptance of a gift must comply with the Foundation’s values, policies and procedures, including but not limited to those outlined in this gift acceptance policy as amended periodically. The acceptance of a gift of any kind must comply with all local laws, and transfer of the assets to the Foundation cannot violate any federal or state laws.
D. The Al-Basit Foundation’s Right to Use of Legal Counsel
The Foundation shall seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate. Review by legal counsel is recommended for, but not limited to:
1. Closely held stock transfers that are subject to restrictions or buy-sell agreements
2. Documents naming the Foundation as trustee
3. Gifts involving contracts such as bargain sales, partnership agreements, or other documents requiring the Foundation to assume an obligation
4. Transactions with potential conflict of interest
5. Gifts of real estate
6. Oil, gas, and mineral interests; or
7. Gifts with unusual restrictions (e.g. gifts requiring the Foundation to do work it is not already doing and/or gifts requiring the Foundation to expand work it is already doing).
E. Ethical Standards
All gifts shall be made to the Foundation, not to individual staff members, Board of Directors, members, or other staff/volunteers. It is the responsibility of every staff member, volunteer, employee, or individual Board of Director member soliciting a gift to bring proposed gifts to the Board of Directors prior to accepting the gift. All Foundation employees, staff, volunteers and Board Members are to avoid acts of actual impropriety as well as acts that create the appearance of impropriety, including a conflict of interest or the perception of a conflict of interest.
The Foundation does not pay fees to any person or organization as consideration for directing a gift to the Foundation. The Foundation does not pay commissions or percentages associated with negotiation and acceptance of any form of gift. Additionally, no fundraiser is compensated based on a percentage of funds raised or on a contingent basis.
No Board Members, employees, staff, or volunteers will conduct fundraising or collect any gift on behalf of the Foundation without prior approval by the Board of Directors.
F. Donor Privacy and Legally Mandated Reporting Requirements
Donor information that should be private and confidential will not be made public. It is in the policy of the Foundation to comply with Internal Revenue Service (IRS) reporting requirements and all other aspects of state and federal tax law applicable to any gift.
G. Donor’s Use of Independent Tax and Legal Counsel is Recommended
The Foundation cannot serve as both the donor’s adviser and the recipient of the donor’s gift, therefore, the Foundation urges all prospective donors to retain appropriate independent tax and legal counsel. The engagement and cost of counsel is the responsibility of the donor.