Make the Minute Matter, Inc.
Donor Bill of Rights
Make the Minute Matter, Inc. commits the following to its Donors:
To be informed of the organization’s mission, of the way the organization intends to use donated resources, and of its capacity to use donations effectively for their intended purposes.
To be informed of the identity of those serving on the organization’s governing board, and to expect the board to exercise prudent judgement in its stewardship responsibilities.
To have access to the organization’s most recent annual financial statements.
To be assured their gifts will be used for the purposes for which they were given.
To receive appropriate acknowledgement and recognition.
To be assured that information about their donations is handled with respect and with confidentiality to the extent required by law.
To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature.
To expect that all those seeking donations are employees of the organization or board members.
To have the opportunity for their names, addresses and phone numbers to be deleted from the organization’s mailing lists and other data bases. Make the Minute Matter will not share our mailing or phone lists with any outside organizations and will not pursue or use information about donors in our fundraising efforts which is not freely available in the public domain.
To have their name immediately removed from our email distribution list if they choose to opt-out. In compliance with the EU General Data Protection Regulation (GDPR), we will not contact anyone living in the EU by email unless they have specifically opted to receive emails on our website.
To feel free to ask questions when making a donation and to receive prompt, truthful and forthright answers.
Approved by the Board of Directors
Date: September 29, 2018
Fundraising Code of Ethical Standards
Public Trust, Transparency and Conflicts of Interest
not knowingly engage in activities that harm our organization, recipients of funding or education programs, donors or profession, or knowingly bring the profession into disrepute.
not engage in activities that conflict with our fiduciary, ethical and legal obligations to our organization, donors, recipients of funding or education programs, or profession.
effectively disclose all potential and actual conflicts of interest; such disclosure does not preclude or imply ethical impropriety.
not exploit any relationship with a donor, prospect, volunteer, client or employee for the benefit of ourselves or our organization and will comply with all applicable local, state, provincial and federal civil and criminal laws.
recognize our individual boundaries of professional competence.
present and supply products and/or services honestly and without misrepresentation.
establish the nature and purpose of any contractual relationship at the outset and be responsive and available to parties before, during and after any sale of materials and/or services.
never knowingly infringe on the intellectual property rights of other parties.
protect the confidentiality of all privileged information relating to the provider/client/donor relationships.
never disparage competitors who we believe are acting in good faith.
Solicitation and Stewardship of Philanthropic Funds
ensure that all solicitation and communication materials are accurate and correctly reflect our organization’s mission and use of solicited funds.
ensure that donors receive confirmation that contributions are deductible to the extent allowable by relevant law.
ensure that contributions are used in accordance with donors’ intentions.
ensure proper stewardship of all revenue sources, including timely reports on the use and management of such funds.
obtain explicit consent from donors before altering the conditions of financial transactions.
Treatment of Confidential and Proprietary Information
not disclose privileged or confidential information to unauthorized parties.
adhere to the principle that all donor and prospect information created by, or on behalf of, our organization is the property of our organization.
not sell, rent or exchange donor information with other organizations. We will not pursue or use information about donors in our fundraising efforts which is not freely available in the public domain.
abide by privacy laws relevant in the countries where donors maintain residence. We will comply with the EU General Data Protection Regulation for residents of the EU.
use accurate and consistent accounting methods that conform to the relevant guidelines adopted by the appropriate authority when stating fundraising results.
Compensation, Bonuses and Finder’s Fees
not accept compensation or enter into a contract that is based on a percentage of contributions; nor shall members accept finder’s fees or contingent fees.
be permitted to accept performance-based compensation, such as bonuses, only if such bonuses are in accord with prevailing practices within the members’ own organizations and are not based on a percentage of contributions.
neither offer nor accept payments or special considerations for the purpose of influencing the selection of products or services.
not pay finder’s fees, commissions or percentage compensation based on contributions.
meet the legal requirements for the disbursement of funds if they receive funds on behalf of a donor or client.
Adopted by the Board of Directors
Date: September 29, 2018
Gift Acceptance Policy
Make the Minute Matter, Inc. (M3) is a nonprofit organization dedicated to ending the hidden global epidemic of drowning. Make the Minute Matter’s Mission Statement: Jolt the public into awareness about the epidemic of child drowning, motivate them to change their attitudes and behavior regarding water, and provide them with a roadmap for positive change.
Make the Minute Matter integrates social marketing into global awareness and education campaigns and provides funding for our established network of skills-based training programs. Our goal is positive, sustainable, and cost-effective behavioral change reinforced through education and skill development.
Make the Minute Matter’s Board of Directors (Board) is charged with maximizing Make the Minute Matter’s ability to perform its mission. The Board has approved this Gift Acceptance Policy (Policy), which is intended to keep Make the Minute Matter financially secure and to assure donors that their contributions to Make the Minute Matter are used in accordance with their wishes and Make the Minute Matter’s fundamental mission. The Board hopes this explicit statement of the Policy can serve as a guide to the responsibilities of both donors and Make the Minute Matter in planning and completing charitable gifts.
This Policy describes the circumstances under which Make the Minute Matter can accept gifts of different kinds. General considerations affecting gifts of all kinds are described in Part One of the Policy. The different types of property Make the Minute Matter can accept are described in Part Two of the Policy. The various means in which gifts may be made are described in Part Three.
Make the Minute Matter Responsibility to Donors:
Commitment to a Donor-Centered, Philanthropic Approach: The Make the Minute Matter Board, staff and volunteer representatives shall endeavor to assist donors in accomplishing their philanthropic objectives in a donor-centered way. In many circumstances, this may involve the donor’s professional advisors, as charitable support is often integrated with a donor’s overall tax, estate and financial planning.
Confidentiality: Information concerning all transactions between a donor and Make the Minute Matter shall be held by Make the Minute Matter in confidence, and may be disclosed only with the permission of the donor or the donor’s designee.
Anonymity: Make the Minute Matter shall respect the wishes of any donor offering anonymous support and will implement reasonable procedures to safeguard such donor’s identity.
We appreciate donors’ consideration of any gift to Make the Minute Matter. We would be happy to provide a copy of this Policy to anyone and answer any questions this Policy may raise for any potential donor or those with whom a donor is consulting.
GENERAL POLICIES RELEVANT TO ALL GIFTS
1. Ethical Standards. Make the Minute Matter is committed to the highest ethical
standards. The Board, staff, and volunteer representatives shall adhere to both the Model Standards of Practice for the Charitable Gift Planner, as adopted by the National Association of Charitable Gift Planners (NACGP)), and the Code of Ethical Principles and Standards as adopted by the Association of Fundraising Professionals (“AFP”). Make the Minute Matter will not participate in gift discussions if there is a question as to the title/ownership of the asset or the donor’s competency to transfer an asset.
2. Donor Advisory. Make the Minute Matter does not provide personal legal, financial, tax compliance or other professional advice to donors. While Make the Minute Matter may provide donors with gift illustrations, including calculations, and draft documents prepared or approved by Make the Minute Matter’s financial or legal counsel, donors will be advised in writing, in gift proposals made to donors, to seek the assistance of their own legal counsel or other professional advisors in matters relating to the legal, tax and estate planning consequences of the proposed gift to Make the Minute Matter.
3. Employment of Counsel. In some circumstances, it is prudent for Make the Minute Matter to work with legal counsel or other professionals in structuring significant gifts. When those circumstances arise, Make the Minute Matter employs such professionals at its own expense. The instances in which Make the Minute Matter expects to work with such professionals are identified below. We encourage donors to consult their own legal and tax advisors as their needs may require, and we ask that all potential contributors to Make the Minute Matter understand that professionals working with Make the Minute Matter to structure a gift cannot also represent the person making the gift. Make the Minute Matter and its employees and agents are prohibited from advising donors about the tax consequences of their donations, other than as shown in approved illustrations, so donors should seek advice on the tax ramifications of any gift to Make the Minute Matter from independent tax advisors.
4. Acceptance Process. Some gifts to Make the Minute Matter are more complex than others. Make the Minute Matter’s acceptance of certain kinds of gifts must be approved by the Board’s Finance Committee and/or President, which are identified below. In any case where acceptance by the Finance Committee is required, if the Committee is in doubt about whether the particular gift should be accepted, it may refer the matter for consideration by the full Board. Gifts that do not need to be accepted by the Board or Finance Committee may be accepted by the President of Make the Minute Matter on the organization’s behalf.
5. Restricted Gifts. Like all charitable organizations, Make the Minute Matter prefers gifts in general support of its goals rather than gifts for more limited purposes. Unrestricted support helps assure that Make the Minute Matter will be able to implement its programs in the most effective manner while also being able to respond in a timely fashion to needed programmatic changes based on evaluative results. Additionally, unrestricted, general support, gifts, allow Make the Minute Matter to move in new directions to fulfill its mission in ways we cannot now foresee. If a supporter of Make the Minute Matter desires to devote a gift to a particular purpose, the size of the gift should warrant the effort necessary to see that the donor’s wishes are fulfilled. Make the Minute Matter is therefore pleased to accept a gift restricted to a particular purpose if Make the Minute Matter’s approved budget for the year in which the gift is to be accepted includes funding for that particular purpose.
Make the Minute Matter will only accept a gift restricted to a particular purpose if that purpose is included in the budget and strategic plan for the year. These gifts can be accepted and held as a separate, identified fund in Make the Minute Matter’s account if the gift is at least $50,000 (or $20,000 if the donor enters into a Pledge Agreement to bring the funding to a minimum of $50,000) or may reasonably be expected to exceed $50,000 when Make the Minute Matter comes into possession of the gift in the future. Gifts to endow a new program or function are subject to review and approval by the Finance Committee and President. Gifts for purposes that are not consistent with Make the Minute Matter’s mission or consonant with its current or anticipated future programs cannot be accepted.
Make the Minute Matter is pleased to accept a gift to create an endowment in any amount for its general support rather than a particular purpose or function.
The Board of Make the Minute Matter will reserve the right to broaden or alter the purpose of an endowed restricted gift should it be determined in the future that the original purpose of the gift, as stipulated in the donor’s document that restricts the use of the gift, no longer meets the needs or serves the mission of Make the Minute Matter. In addition, the assets contained within each endowed fund may be commingled for investment and administration with other endowment funds of Make the Minute Matter. Make the Minute Matter’s spending and investment policies shall apply to all endowment funds.
6. Fees and Commissions. Make the Minute Matter does not pay “finder’s fees” or commissions to third parties in connection with any kind of gift to Make the Minute Matter. No officer, employee or agent of Make the Minute Matter is or will be compensated in a manner that is dependent on the size or nature of gifts made to Make the Minute Matter by any person. When Make the Minute Matter engages legal counsel, accounting professionals or environmental consultants, their fees and expenses will generally be determined by the time they spend engaged in Make the Minute Matter’s work and not by reference to any particular gift in connection with which they are retained. Their fees will be paid by Make the Minute Matter. Any such professional engaged by Make the Minute Matter will be clearly identified to the donor or potential donor as working on behalf of Make the Minute Matter and not on behalf of the donor. The fees and expenses of legal counsel, accountants or appraisers engaged by donors may be wholly or partly paid by Make the Minute Matter, at the request and with the consent of the donor, with the approval of the Finance Committee and President. In any case in which a donor’s professional fees are paid in whole or in part by Make the Minute Matter, representatives of Make the Minute Matter will inform the donor that the payment constitutes taxable income to the donor.
7. Establishing the Value of Donated Property. It is the policy of Make the Minute Matter to comply fully with the valuation rules set out in Publication 561 (https://www.irs.gov/pub/irs-pdf/p561.pdf) of the Internal Revenue Service and the relevant income, gift and estate tax laws and regulations
Make the Minute Matter reserves the right to alter the value of property contributed to it on the books and records of Make the Minute Matter for accounting, tax-reporting, annual fund record-keeping or any other purpose if developments after the completion of the gift or information that comes to the attention of Make the Minute Matter after the gift is completed are determined, in the discretion of the Committee or Make the Minute Matter’s auditors, to merit such an alteration.
8. Tax Compliance. Donors of property other than cash and marketable securities which has a value of $5000 or more are required to file IRS Form 8283 with their individual tax returns for the year in which such a gift is made, if they intend to take an income-tax deduction for the gift. In each instance of Make the Minute Matter’s receiving a gift to which this rule is applicable, Make the Minute Matter will use its best efforts to call the attention of the donor to the applicability of this rule. The Internal Revenue Code also requires that if Make the Minute Matter sells property that it has received by gift within two years after the property is received, Make the Minute Matter must report the fact of the sale and the amount of the proceeds to the Internal Revenue Service on Form 8282. It is the policy of Make the Minute Matter to comply fully with this reporting requirement and all other applicable aspects of state and federal tax law.
9. Donor Expenses. As a general rule, and except as provided elsewhere in these policies for specific assets, including real estate, expenses associated with a donor’s gift should be borne by the donor. Typical expenses include appraisal fees to substantiate the value of the donor’s gift for tax purposes and the donor’s legal fees. Make the Minute Matter may, with the prior approval of the Board, agree to pay some or all of the donor’s expenses associated with the gift following a determination by the President that doing so is necessary to facilitate the gift.
10. Approval of Exceptions. Acceptance of gifts to Make the Minute Matter in a manner that is in any way inconsistent with this statement of policy must be approved in writing by the Board or, if Board approval is impracticable, by the Chair of the Board, who shall report such exceptions to the Board or the Committee at its next regular meeting.
PROPERTY THAT MAY BE DONATED TO MAKE THE MINUTE MATTER
1. Gifts of Cash. The most frequent, and also the simplest, means of supporting the work of Make the Minute Matter is by cash or check. Any donations made in currencies other than U.S. dollars will be converted to U.S. dollars upon receipt and deposit. Checks should be made payable to the “Make the Minute Matter,” and checks payable to any employee, officer or agent of Make the Minute Matter cannot be accepted. Funds may also be wired to Make the Minute Matter’s bank account in the U.S. and wiring arrangements can be made through Make the Minute Matter’s President. Funds will be treated as having been received by Make the Minute Matter when a check arrives at Make the Minute Matter’s office or funds wired to an account maintained by Make the Minute Matter are credited to that account.
Make the Minute Matter also accepts distributions from IRAs, which may provide additional tax benefits to the donor. Checks and wired funds are acceptable.
2. Publicly Traded Securities. Any unrestricted stocks or American Depository Receipts that are traded on the New York or American Stock Exchange or through the NASDAQ system or any other recognized domestic stock exchange and corporate and government bonds and for which there is an established market (“marketable securities”) are welcome as contributions to Make the Minute Matter and may be accepted by the President. Securities may be wired to an investment account maintained by Make the Minute Matter and will be treated as having been delivered when Make the Minute Matter’s investment agent has received all the documentation necessary to complete the transfer of ownership without any further involvement on the part of the donor. Securities traded exclusively in markets outside the United States can only be accepted with the approval of the Finance Committee and President. Marketable securities will be sold by Make the Minute Matter promptly upon receipt so that their proceeds may be invested in a manner consistent with Make the Minute Matter’s overall investment policies.
3. Closely Held and Restricted Securities. Corporate stock for which there is no established market that is readily accessible to Make the Minute Matter, including the stock of “Subchapter S Corporations,” stock which is subject to trading restrictions, partnership interests in general or limited partnerships or in limited liability partnerships and memberships in limited liability companies that are not traded on an established domestic securities exchange (“closely held securities”) can not be accepted by Make the Minute Matter.
4. Real Estate. Gifts of real estate to Make the Minute Matter can not be accepted at this time.
5. Retirement Plan Assets. Make the Minute Matter will accept funds it receives as the designated beneficiary of a retirement plan (for example, an IRA, a 401(k) plan or a defined contribution plan). Make the Minute Matter should obtain a copy of the executed designation form that the donor has submitted to the retirement plan administrator to name Make the Minute Matter as the beneficiary.
6. Tangible Personal Property. The term “tangible personal property” applies to any property that is not real estate, cash or securities and has an intrinsic utility. Examples include, but are not limited to, artwork, automobiles, boats, farm equipment, stamp and coin collections, furniture and jewelry.
Make the Minute Matter accepts contributions of tangible personal property that can be sold immediately. Such gifts may be accepted by the President. When such gifts are accepted, Make the Minute Matter will provide the donor with an appropriate acknowledgment of the gift, which does not include a statement of value.
Make the Minute Matter cannot accept gifts of tangible personal property that are subject to restrictions related to the timing of their sale or for which there is no market to which Make the Minute Matter has relatively convenient access. If there will be costs associated with the maintenance of a donated item of personal property between the time of its contribution to Make the Minute Matter and the time when it is likely to be sold, such as docking fees for a boat, hangar charges for an aircraft or rental payments for the plot on which a mobile home is located, Make the Minute Matter may choose to decline the gift unless the donor provides Make the Minute Matter with sufficient funds to maintain the property pending sale.
7. Gifts of Life Insurance. Gifts to Make the Minute Matter of fully paid whole life, ordinary life or endowment policies on which no future premium payments are due may be accepted by the President. Gifts of policies having a current cash value but with respect to which future premium payments are possible or are known to be due must be approved by the Finance Committee or Board. Whether any such policy is accepted will depend on the economics of the transfer. If the policy can be converted to a paid-up policy of lesser value, if the donor agrees to make future premium payments, or if the policy has sufficient value to permit the payment of future premiums out of that value for as long as necessary, the policies will be accepted by Make the Minute Matter. In any case in which a policy is accepted, Make the Minute Matter will work with the insuring company to transfer ownership of the policy from the donor to Make the Minute Matter and will change the beneficiary designation to permit Make the Minute Matter to collect the insurance proceeds when the policy matures.
Make the Minute Matter cannot accept a gift of a term life insurance policy without cash value unless the donor of the policy agrees to maintain the policy in force by remaining responsible for payment of future premiums. Any gift of a term policy to Make the Minute Matter must be accepted by the Finance Committee and, following acceptance, Make the Minute Matter will take steps to change the ownership of the policy from the donor to Make the Minute Matter and to assure that Make the Minute Matter is notified if any future premiums are not timely paid. The beneficiary designation will also be changed to name Make the Minute Matter as beneficiary.
Gifts of life insurance policies naming multiple beneficiaries will be referred to the Finance Committee for its consideration before acceptance. Make the Minute Matter will not accept gifts of cash or property from a donor if the use of the gift is restricted to the purchase of a life insurance policy on the donor or any other person.
8. Miscellaneous Property Interests. Contributions of unusual property rights, such as mortgages, non-marketable notes, assignments of rent due under leases, oil and gas interests, patents, copyrights, royalties, frequent flyer miles and easements can only be accepted by Make the Minute Matter with the approval of the full Board of Directors.
1. Outright Gifts. Outright gifts are transfers directly to Make the Minute Matter for its immediate use. Such gifts maximize the value of the donation to Make the Minute Matter and are generally simpler and quicker to complete than other kinds of donations. Whether an outright gift is to be accepted on Make the Minute Matter’s behalf by the appropriate staff, by the Finance Committee, or Board depends on the nature of the property being donated.
Make the Minute Matter accepts the outright gifts of cash, checks and publicly traded stocks.
Historically, over 70% of planned gifts made to charitable organizations are bequests made through a will or trust, primarily wills. Make the Minute Matter will promote the use of bequests to generate future income for its mission. As with any gift made to Make the Minute Matter, unrestricted gifts that can be used for the general purposes of the organization are preferred.
If a donor or a professional advising a donor would like assistance in wording a bequest to Make the Minute Matter or in properly identifying and describing a restricted purpose for which any such gift is to be used, the President can put the donor in touch with representatives of Make the Minute Matter who can provide that assistance. Because restricted gifts must be approved by the President, discussion of the restricted purpose at the time the relevant document is drafted can avoid misunderstandings that can arise if Make the Minute Matter first finds out about the gift after the donor has died. Gifts made to Make the Minute Matter under a will or trust are subject to the same acceptance procedures, described in Part Two of this Policy, as gifts made during a donor’s lifetime, and it benefits both the donor and Make the Minute Matter to know in advance if the subject of the gift and the terms on which it is made are agreeable to both parties. Discussion of the gift at the time the operative language is drafted assures that Make the Minute Matter will be able to accept the gift on terms that meet the donor’s expectations.
In the event that Make the Minute Matter must decline a gift made in a donor’s will or trust after the donor’s death, the decision to renounce the gift, and a renunciation document that is in a form acceptable to both Make the Minute Matter and the representative of the estate or trust from which the transfer was to be made, will be delivered to the representative within three months after Make the Minute Matter is informed of the gift. In any case in which renunciation of a gift under a will or trust is contemplated, Make the Minute Matter will consult legal counsel.
Make the Minute Matter appreciates being advised by supporters that they have remembered Make the Minute Matter in their estate plans, whether the remembrance is in the form of a restricted gift or an unrestricted one.
2. Pledges. Donors wishing to make their gifts in installments over time to solidify
their commitment to Make the Minute Matter, will be asked to put their intention in a “letter of intent”, which is a non-binding commitment to fulfill their pledge. Non-binding letters of intent shall not be counted as direct gifts nor are they legally binding.
Make the Minute Matter will record, acknowledge, bill and monitor the status of all letters of intent and future payments. Should there be any portion of the donor’s commitment remaining unpaid at the donor’s death, Make the Minute Matter shall contact the deceased donor’s family or estate representative, in a respectful and sensitive manner, to encourage the fulfillment of the letter of intent if appropriate.
3. Charitable Remainder Trusts. It is the policy of Make the Minute Matter not to serve as trustee of charitable remainder annuity trusts or charitable remainder uni-trusts of which it is a beneficiary. This policy is intended to ensure that such trusts receive the full-time investment management that they deserve and to eliminate any possibility of a conflict of interest in investment choices or any other subject between the current annuity or uni-trust beneficiaries of such trusts and Make the Minute Matter as remainder beneficiary. Representatives of Make the Minute Matter are, however, available to cooperate with any potential donor to a charitable remainder trust in tailoring the provisions of those trusts to the donor’s particular situation.
Make the Minute Matter reserves the right to decline remainders under trust instruments created without its knowledge if the nature of the property or the conditions on its use are not consistent with the best interests and other activities of Make the Minute Matter. Decisions on whether to accept trust remainders that consist of property other than cash or marketable securities or which are subject to use restrictions are made by the Board. Unrestricted remainders consisting of cash or marketable securities may be accepted by the President.
4. Charitable Lead Trusts. It is the policy of Make the Minute Matter not to serve as trustee of charitable lead trusts of which Make the Minute Matter is a beneficiary, for reasons similar to those outlined above in the discussion of charitable remainder trusts. As with remainder trusts, however, representatives of Make the Minute Matter are available to cooperate in the establishment of such trusts to assure that payments to Make the Minute Matter from any such trust can be used by Make the Minute Matter in accordance with the donor’s wishes and expectations.
Make the Minute Matter reserves the right to decline to accept distributions from charitable lead trusts in the drafting of which Make the Minute Matter has not been consulted if the distributions consist of property other than cash or marketable securities or if the uses to which the distributions are to be put are restricted under the terms of the trust instrument to purposes not consistent with the mission and programs of Make the Minute Matter.
5. Charitable Gift Annuities. Charitable gift annuities and deferred charitable gift annuities can be issued by Make the Minute Matter only at such time as the organization has the endowed financial assets to support charitable gift annuities and with approval by the Board. Make the Minute Matter may choose to engage financial legal to consider each prospective annuity gift. The minimum annuity gift that Make the Minute Matter will accept is $25,000. Payout rates for annuities offered by Make the Minute Matter will be at or below the maximum payout rates recommended from time to time by the American Council on Gift Annuities, a nonprofit organization whose function is, among other things, to assure that annuity rates, while fair to donors, are also reasonable enough to assure that recipient charities do not have to pay out more as annuity payments than they take in as gifts.
It is the policy of Make the Minute Matter not to purchase private annuities to make the annuity payments that Make the Minute Matter, by issuing annuities, becomes obligated to make. Transferring the liability for the annuity payments to a private company would divert funds to that company and away from the charitable purposes of Make the Minute Matter. The ability of Make the Minute Matter to make annuity payments to donors is therefore only as strong as Make the Minute Matter’s balance sheet.
Make the Minute Matter cannot accept gifts of tangible personal property to fund a gift annuity. Gifts of real estate to fund such annuities will be carefully considered by the Board and their acceptance will depend on the likelihood that Make the Minute Matter will be able to sell the donated real estate promptly and whether, as in the case of any other gift of real estate, the gift is accompanied by sufficient cash or other liquid assets to enable Make the Minute Matter to carry the real estate until it is sold without diverting other funds to the purpose. Make the Minute Matter is unable to accept gifts of real estate subject to mortgages or other liens to fund charitable gift annuities.
6. Gifts of Remainders in Residences, Ranches or Farms. Gifts of remainder interests in personal residences, ranches or farms can be accepted only with the approval of the Board. In the case of any such gift, as with any other gift of real estate, Make the Minute Matter will retain legal counsel to examine the title to the donated property and requires at least a Level I environmental survey before the gift can be accepted. These basic steps are necessary to protect Make the Minute Matter against potential liabilities arising out of environmental contamination and a lack of salability owing to title defects.
In light of these requirements, it is the strong preference of Make the Minute Matter to know about gifts of remainder interests at the time they are established rather than only when Make the Minute Matter’s interest comes to fruition. This is particularly important if the use of the proceeds of sale of the residence, ranch or farm, or the use of the real estate itself, after Make the Minute Matter takes possession of it, is to be restricted by the donor under the terms of the gift. It is important that the donor and Make the Minute Matter work together to assure that the donor’s desires for the use of the property or its proceeds can be satisfied by Make the Minute Matter when the time comes.
Ordinarily, Make the Minute Matter will expect to remain in close contact with the owners of the life interest or interests in a residence, ranch or farm throughout the period of his, her or their occupancy so that it can remain confident of the absence of environmental liabilities and work with the owner or owners of the life interest to maintain the value of the property. This important on-going acquaintance with the real estate and its uses is impossible if Make the Minute Matter is not informed of the gift at the time the remainder interest is established.
In light of the importance of protecting Make the Minute Matter’s other assets from exposure to liabilities arising out of the ownership of donated real estate, Make the Minute Matter reserves the right to decline any gift of a remainder interest in a residence, ranch or farm even after the life interest or interests in the real estate expire, when the property would otherwise pass to Make the Minute Matter.
7. Planned Gift Valuation. The Foundation shall follow the Partnership for Planned
Giving standards: PPP Valuation Standards for Charitable Planned Gifts. All exceptions to these standards shall be made by the Finance Committee.
Adopted by the Board of Directors
Date: September 29, 2018