ONE HELP ONE DIRECTION IHUMURE is a charity organization whose mission is to revive children’s hope through the promotion and protection of child’s right.
GIFT ACCEPTANCE POLICY
ONE HELP ONE DIRECTION IHUMURE solicits and accepts gifts for purpose that will help the organization further and fulfil its mission. One Help One Direction Ihumure urges all prospective 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 One Help One Direction Ihumure for benefit of any of its operations, programs or services.
Use of legal Counsel – ONE HELP ONE DIRECTION IHUMURE will seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate. Review by counsel is recommendation for:
A. Gifts of securities that are subject to restrictions or buy-sell agreements.
B. Documents naming One Help One Direction Ihumure as trustee or require the organization to act in any fiduciary capacity.
C. Gifts requiring One help One Direction Ihumure, to assume financial or other obligations.
D. Transaction with potential conflicts of interested.
E. Gifts of property which may be subject to environmental or other regulatory restrictions.
Restrictions on Gifts – OHODI will not accept gifts that:
A. Would result in One Help One Direction Ihumure violating its corporate charter.
B. Are too difficult or too expensive to administer in relation to their value.
C. Would result in any unacceptable consequences for One Help One Direction Ihumure, or for purposes outside OHODI’s mission.
Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the finance committee, in consultation with the Executive Director.
Gifts Generally Accepted Without Review
A. Cash. Cash gifts are acceptable in any form including by check, money order, credit card, wire transfer, or on-line.
B. Marketable Securities. Marketable securities may be transferred electronically to an account maintained at the Organization’s brokerage firm or delivered physically with the transferor’s endorsement attached.
All marketable securities will be sold promptly upon receipt unless otherwise directed by One Help One Direction’s Investment Committee. In some cases marketable securities may be restricted, for example, applicable securities laws or other term of the proposed gift; in such instances the decision whether to accept the restricted securities shall be made by The Finance Committee.
Gifts Accepted Subject to Prior Review – Certain forms of gifts or donated properties may be subjected to review prior to acceptance. For examples of gifts subject to prior review include, but are not limited to:
A. Charitable Remainder Trusts. OHODI will accept designation as remainder beneficiary of charitable remainder trusts.
B. Charitable Lead Trusts. OHODI will accept designation as an income beneficiary of charitable lead trusts.
C. Bequests and Beneficiary Designation under Revocable Trusts, Commercial Annuities and Retirement Plans. Donors are encouraged to make bequests to OHODI under their wills, and to name OHODI as the beneficiary under trusts, commercial annuities and retirement plans.
D. Tangible Personal Property. The Finance Committee shall review and determine whether to accept any gifts of tangible personal property, including works of art, 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 may be responsible? Is the title/ provenance of the property clear?
Life Insurance. OHODI will accept gifts of life insurance where OHODI is named as both beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay, before due, any future premium payments owing on the policy.
Real Estate. All gifts of real estate are subject to review by the Finance Committee. Prior to acceptance of any gift of real estate other than a personal residence, OHODI shall require an initial environmental review by a qualified environmental firm.
In the event that the review reveals a potential problem, the organization may retain a qualified environmental firm to conduct an environmental audit. Criteria for acceptance of a gift of real estate include: Is the property useful for the organization’s purposes? Is the property readily marketable? Are there covenants, conditions, restrictions, reservations, easements, encumbrances or other limitation associated with the property? Are there carrying costs(including insurance, property taxes, mortgages, notes, or other like) or maintenance expenses associated with the property? Does the environmental review or audit reflect that the property is damaged or otherwise requires remediation?
All decisions to solicit and/or acceptance potentially controversial gifts will be made by the Executive Committee of the Board in consultation with the Executive Directors. The primary consideration will be the impact of the gifts on the child’s right.