BEST Gift Acceptance Policy

Adopted 10/18/2023

1. Purpose: 

This policy provides direction on accepting gifts to BEST, ensuring that all gifts align with our mission, core values, and financial objectives.

2. Scope: 

This policy encompasses all gifts and contributions given to BEST.

3. Principles: 

• All gifts should support and enhance BEST's mission.

• The rights and privacy of our donors remain paramount.

• BEST retains the discretion to decline any gift inconsistent with its values, mission, or financial standing.

4. Types of Gifts: 

BEST may accept the following: 
- Cash Gifts: Including checks, bank drafts, online donations, and wire transfers.
- Real Property: Real property gifts, like land or buildings, are reviewed individually, considering factors like    marketability, environmental considerations, and associated costs.
- Stocks and Bonds: Sold upon receipt, unless the finance committee advises otherwise. 
- Bequests: Donations facilitated through wills or estate planning. 
- In-Kind Gifts: Tangible items or services that further BEST's mission. 
- Planned Gifts: Examples are charitable trusts, retirement assets, or insurance policies.

5. Gift Review: 

All real property, bequests or planned gift donations will undergo review by an AdHoc BEST Gift Review Committee, comprising at least one board member, the executive director, and a financial manager.

All donations from individuals or organizations with allegations of misconduct will also undergo review by an AdHoc BEST Gift Review Committee, comprising at least one board member, the executive director, and a financial manager. In these instances, the Committee will consider the following:  

1. With more complicated gifts (including but not limited to those from sex buyers as evidenced by an arrest or other visible or disclosed matter, or), the CEO will make a recommendation to the Gift Acceptance Committee, and in such circumstances, the Gift Acceptance Committee will add at least two external advisors who have relevant experience in the sector as ad hoc members for the duration of its deliberation of the complicated gift in question. The decision will be made in accordance with the opinion of a majority of the Committee’s standing and ad hoc members.  

2. Considerations for the Gift Acceptance Committee in considering gifts from a known sex buyer: 

        - Has this individual expressed verbally an understanding of the impact of his/her behavior and remorse?
         - Is the individual willing to meet with BEST leadership? 
         - Is the individual going through or has gone through a process of accountability?
         - Has the individual formally expressed an apology, in person or when? 
         - Has the individual expressed interest in and/or completed education on CSE by virtue of reading relevant            materials and watching relevant videos/films?
         - What is the individual doing personally to make changes in his/her behavior?
         - How long has passed since the incident and is the individual still expressing his/her desire to make it right? 
         - Does the individual want public recognition for his/her gift?

3. Considerations for the Gift Acceptance Committee if donor organizations have accusations of abuse of sexual abuse or exploitation inside their organization:
            - Has the organization responded quickly and appropriately?
            - Did the organization conduct an independent investigation?
            - Has the organization publicly disclosed the steps they have taken since the alleged incident to improve            their policies and procedures?

6. Restrictions on Gifts: 

• Unrestricted Gifts: Donations without stipulations will be utilized at BEST's discretion. 

• Restricted Gifts: Donors can specify a purpose. BEST commits to honoring these restrictions if they align with its vision and objectives. 

• Endowments: BEST may agree to gifts establishing an endowment, given the terms are favorable and beneficial.

7. Declining Gifts: 

BEST holds the authority to refuse any gift that:
- Doesn’t resonate with its mission or values.
- Introduces excessive risk or responsibility.
- Might result in unfavorable publicity.
- Is associated with illicit or dubious activities.
- Is from a donor or organization with unaddressed allegations of misconduct

8. Donor Recognition: 

All donors will be recognized following BEST's donor recognition practices. Requests for anonymity will be respected.

9. Valuation of Gifts: 

For in-kind gifts, donors are tasked with determining the value for tax considerations. BEST will issue a receipt that describes the gift but won’t ascertain its value.

10. Confidentiality: 

All information about donors and potential donors remains strictly confidential unless the donor grants specific permissions for selective usage.

11. Amendments: 

BEST’s Board of Directors may revise this policy periodically.

12. Review of Policy: 

This Gift Acceptance Policy will be revisited at least biennially to ensure its relevance and alignment with best practices in the nonprofit sector.