Gift Acceptance Policy
1. Under no conditions or circumstances are our staff or board allowed to accept cash, checks, gifts, checks, rides, or assistance from participants and their caregivers of any kind for their personal benefit. It is against the rules of St. Elizabeth's Adult Day Care Center.
2. Cash. St. Elizabeth’s Adult Day Care Center (SEADCC) accepts cash, checks, money orders, virtual donation apps ACH transfers and credit cards.
3. Marketable Securities. SEADCC accepts gifts of publicly traded stocks and bonds. When the securities are in "street name," they are transferred to the organization’s account; thereafter we may either sell or hold the securities. When the gift is in the form of physical securities, we may either sell or hold the securities.
4. Stock in Privately Owned Companies. To be accepted, such stocks must have a qualified appraisal performed by an independent professional appraiser. If immediately marketable, the stocks are sold. If not, they are kept until they can be redeemed.
5. Stock in subchapter S Corporations. To be accepted, such stocks must have a qualified appraisal performed by an independent professional appraiser.
6. Real Estate. Concerns include legality, mortgages, easements, restrictions, and environmental problems. Until the property is sold, the donor must provide for obligations such as taxes and insurance.
7. Tangible Personal Property. The property must be saleable, and the donor must agree that the property can be sold unless the organization agrees to use the property for a purpose relat-ed to its exempt purpose. At least one qualified appraisal by an independent professional is required.
SEADCC reserves the right to refuse any proposed gift. Prior to approval, such gifts are reviewed by SEADCC staff, Board of Directors, and legal counsel. Gifts to SEADCC may not be direct-ly or indirectly subjected by a donor to any material restriction or condition that would prevent the organization from freely and effectively employing the transferred assets or the income de-rived there from, in furtherance of its exempt purposes.
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