Gift Acceptance Policy
SVP Portland welcomes and accepts gifts for purposes that help us fulfill our mission. Our gift acceptance policy outlines how gifts are accepted or declined, the types of gifts that are accepted or reviewed, and the types of gifts that are restricted. As leaders in the venture philanthropy space, we approach our operations with a critical eye towards best practices, and consistently evaluate our practices for alignment with our values and industry tactics. Our current policy was approved by our Board of Directors in June 2023.
GIFT ACCEPTANCE POLICY
Social Ventures Partners Portland (hereafter, referred to as “SVP Portland”) solicits and accepts gifts for purposes that will help the organization further and fulfill its mission. SVP Portland urges all donors to seek the assistance of personal legal and financial advisors in matters relating to their gifts, including the resulting tax and estate planning consequences. The following policies and guidelines govern acceptance of gifts made to SVP Portland for the benefit of any of its operations, programs or services.
The Finance Team, in collaboration with staff, including but not limited to ED and Director of Community Impact, and/or the Board of Directors, will make the decision on whether to accept or decline a gift. In cases where the Finance Team determines that a gift is too restrictive or does not align with SVP Portland's mission, the team will work with the donor to explore alternative options that will meet the donor's intentions while also supporting the organization's mission.
Gifts Generally Accepted Without Review—SVP Portland welcomes and appreciates certain types of gifts that can be accepted without review by the Finance Team. These include:
Cash: SVP Portland accepts cash gifts in any form, including by check, money order, or online via credit card.
Marketable Securities: Marketable securities can be transferred electronically to an account maintained at one or more brokerage firms or delivered physically with the transferor's endorsement or signed stock power (with appropriate signature guarantees) attached. All marketable securities will be sold promptly upon receipt. In some cases, marketable securities may be restricted, for example, by applicable securities laws or the terms of the proposed gift; in such instances the decision whether to accept the restricted securities shall be made by the Finance Team.
Bequests and Beneficiary Designations under Revocable Trusts, Life Insurance Policies, Commercial Annuities, and Retirement Plans: SVP Portland encourages donors to include SVP Portland in their wills, and to name SVP Portland as the beneficiary under trusts, life insurance policies, commercial annuities, and retirement plans.
Charitable Remainder Trusts: SVP Portland accepts designation as a remainder beneficiary of charitable remainder trusts.
SVP Portland thanks donors who make these gifts in support of its mission and operations in accordance with IRS regulations.
Gifts Subject to Prior Review—Certain types of gifts or donated properties require a review before acceptance. SVP Portland will engage staff in decision-making as appropriate. The following are examples of gifts subject to prior review, but this list is not exhaustive:
Tangible Personal Property: Gifts of tangible personal property will be reviewed and determined by the Finance Team and staff based on several factors, including but not limited to those delineated above, and whether the title/provenance of the property is clear. The FinTeam or staff lead will consult with experts in the sector as appropriate.
Charitable Lead Trusts: SVP Portland will review the designation as an income beneficiary of charitable lead trusts.
Life Insurance: Gifts of life insurance may be accepted by SVP Portland where the organization is named as both beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay any future premium payments owing on the policy before the due date, or provide proof of charitable gift rider on the policy to cover premium payments through the due date. Donors are encouraged to speak with their financial advisor before making this choice.
Real Estate: All gifts of real estate require review by the FinTeam and staff as appropriate. The FinTeam or staff lead will consult with experts in the sector as appropriate, including environmental review for commercial properties. Criteria for accepting gifts of real estate include whether the property is useful for the organization's purposes, whether it is readily marketable, whether there are any covenants, conditions, restrictions, reservations, easements, encumbrances, or other limitations associated with the property, whether there are carrying costs (including insurance, property taxes, mortgages, notes, or the like) or maintenance expenses associated with the property, and whether the environmental review or audit shows that the property is damaged or otherwise requires remediation.
Restrictions on Gifts—SVP Portland accepts gifts with the understanding that they will further the organization's mission and fulfill its charitable purpose. However, SVP Portland reserves the right to decline gifts that do not meet certain criteria. SVP Portland will not accept gifts that:
Would result in SVP Portland violating its corporate charter.
Would result in SVP Portland losing its status as a 501(c)(3) not-for-profit organization.
Are too difficult or too expensive to administer in relation to their value.
Would result in any unacceptable consequences for SVP Portland.
Are for purposes outside of SVP Portland's mission.
Could create a conflict of interest (e.g., quid pro quo expectation) between SVP Portland staff and funders, other gifts that would have material benefit to SVP Portland staff and/or Partners, or that could compromise the integrity of the partnership model.
Use of Legal Counsel—SVP Portland recognizes the importance of seeking legal counsel in certain circumstances related to the acceptance of gifts. Legal review will be sought when appropriate, and the decision to seek legal counsel will be based on the specific circumstances of the gift.
