Gift Acceptance Policy

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A Chance In Life solicits and accepts gifts that are consistent with its mission and that support its operations, programs, special projects and funds.  All decisions to solicit and/or accept gifts will be made by the President and Executive Director in consultation with the Board of Directors. The primary consideration will be the impact of the gift on the organization.

The following policies and guidelines govern acceptance of gifts made to A Chance in Life for the benefit of its operations, programs, or special projects.

Restrictions on Gifts 

A Chance In Life will not accept gifts that:

1. would result in A Chance In Life losings its status as a 501 (c)(3) not-for-profit organization, 
2. are too difficult or too expensive to administer in relation to their value
3. would result in any unacceptable consequences for A Chance In Life, or
4. are for purposes outside A Chance In Life’s mission

Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the President and Executive Director, in consultation with the Board of Directors.

Gifts Subject to Prior Review

Certain forms of gifts or donated properties may be subject to review prior to acceptance by A Chance In Life. Examples of gifts subject to prior review include, but are not limited to:

1. Tangible personal property. The President and Executive Director, in consultation with the Board of Directors, shall review and determine whether to accept any gifts of tangible personal property in light of the following considerations: does the property further the organization’s mission? Is the property marketable? Are there any unacceptable restrictions imposed on the property? Are there any carrying costs for the property for which the organization may be responsible? Is the title/provenance of the property clear?
2. Life insurance. A Chance In Life will accept gifts of life insurance where A Chance In Life is names as both beneficiary and irrevocable owner or the insurance policy. The donor must agree to pay, before due, any future premium payments owing on the policy.
3. Marketable securities restricted by applicable securities laws or the terms of the proposed gift. A Chance In Life will accept gifts of marketable securities, which may be transferred electronically to an account maintained by Fidelity, the details of which can be provided by contacted A Chance In Life directly at 212.980.8770. Such gifts will be sold promptly upon receipt. In the event that applicable securities laws or terms of the proposed gift of securities prevent the prompt sale, such a gift will be subject to review by A Chance In Life’s President and Executive Director, in consultation with the Board of Directors.
4. Real estate. All gifts of real estate are subject to review by the President and Executive Director, in consultation with the Board of Directors. Prior to acceptance of any gift of real estate, A Chance In Life shall require an initial environmental review by a qualified environmental firm. In the event that the initial review reveals a potential problem, the organization may retain a qualified environmental firm to conduct an environmental audit. Criteria for acceptance of gifts of real estate include: Is the property useful for the organization’s purposes? Is the property readily marketable? Are the covenants, conditions, restrictions, reservations, easements, encumbrances, or other limitations associated with the property? Are there carrying costs associated with the property? Does the environmental review or audit reflect that the property is damaged or otherwise requires remediation?