Gift Acceptance Policy
I. Mission and Purpose
The mission of Kakenya’s Dream is to invest in girls from rural communities through educational, health, and leadership initiatives to create agents of change. We are an international nonprofit organization that strives for all our actions to be Girl-centric, Rights-based, Community-driven, Collaborative, Transparent, and characterized by Integrity.
We solicit and accept philanthropic support to fulfill our mission and better serve our girls. The purpose of the Gift Acceptance Policy is to 1) govern the acceptance of gifts made to Kakenya’s Dream for the benefit of any of its individual programs or affiliated entities, 2) guide donors, prospective donors, and philanthropic advisors when considering or making a gift, and 3) ensure both parties maintain integrity and avoid any existing or foreseeable conflicts of interest. The provisions of the following Gift Acceptance Policy shall apply to all gifts received by Kakenya’s Dream for any of its programs, services, or operations.
II. Gift Acceptance Prerequisites
When deciding whether to solicit or accept gifts, Kakenya’s Dream will consider the following factors:
- Values — Acceptance of the gift does not compromise any of the core values of Kakenya’s Dream: Girl-centric, Rights-based, Community driven, Collaborative, Transparent, and characterized by Integrity
- Compatibility — There is compatibility between the intent of the donor and the organization’s use of the gift
- Public Relationships — Acceptance of the gift and/or affiliation with the donor would not damage the reputation of Kakenya’s Dream
- Socially Responsible — The gift is not funded by a donor, foundation or business whose activities negatively impact children or women
- Primary Benefit — The primary benefit is to Kakenya’s Dream and its mission, not the donor
- Consistency — The gift is consistent with the organization’s stated mission, purposes, and priorities.
- Form of Gift — The gift is offered in a form that Kakenya’s Dream can use without incurring substantial expense or difficulty
- Effect on Future Giving — The gift will encourage future gifts, or not discourage future gifts
- Autonomy — The gift does not undermine Kakenya’s Dream control over its programs
- Flexibility — The gift is not overly restrictive in purpose
Kakenya’s Dream maintains the right to refuse or return any gift that would compromise these values. Accepting a gift is not a sign that Kakenya’s Dream endorses a donor, organization, or viewpoint. All decisions to solicit and/or accept potentially controversial gifts will be made by the Executive Committee of the Board of Directors in consultation with the President.
III. Use of Legal Counsel
Kakenya’s Dream does not provide personal legal, financial, or other professional advice to donors or prospective donors. Kakenya’s Dream encourages all current and 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.
Kakenya’s Dream will seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate. Review by counsel is recommended for:
- All transactions governed by contracts or other legal documents. This would include gifts of real estate, trusts naming Kakenya’s Dream as a trustee, or documents obligating Kakenya’s Dream to take action.
- Gifts of securities that are subject to restrictions or buy-sell agreements.
- Transactions with potential or reasonable conflict(s) of interest. This may include use of Board Members as sales agents in transactions, leases of gift property to staff or Board, as well as those that may invoke IRS sanctions.
- Gifts that require Kakenya’s Dream to assume financial or other obligations outside of reporting progress of programs, or the welfare of our students and/or community.
- Administration of estates of which Kakenya’s Dream is named as a beneficiary or gifts of property which may be subject to environmental or other regulatory restrictions.
- Instances where counsel is deemed necessary or appropriate by the Executive Committee and/or the President.
IV. Restrictions on Gifts
Kakenya’s Dream will not accept gifts that 1) would result in Kakenya’s Dream violating any federal, state, and/or local statute or ordinance, 2) would result in Kakenya’s Dream losing its status as an IRC § 501(c)(3) not-for-profit organization, 3) are too difficult or too expensive to administer in relation to their value, 4) would result in any unacceptable consequences for Kakenya’s Dream or that could expose Kakenya’s Dream to liability, 5) are made with the condition that the proceeds will be spent for the personal benefit of a named individual, and/or 6) are for purposes outside Kakenya’s Dream’s mission. Kakenya’s Dream does not accept gifts from political parties, candidates, or nonprofit organizations closely aligned with them. Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Executive Committee, in consultation with the President.
V. Types of Gifts
Gifts Generally Accepted Without Review — The majority of the gifts made to Kakenya’s Dream are accepted without review including, but not limited to, those listed below:
- Cash: Cash gifts are acceptable in any form, including by check, money order, credit card, or online. Funds received from Donor Advised Funds will be recognized in the name of the fund.
- Pledge: A pledge is a commitment to a specific dollar amount according to a specific payment schedule. A pledge will be recorded once a written expressed agreement is made. If a pledge has not been paid within twelve months after the scheduled payment, the pledge will be considered unfulfilled.
- Marketable Securities: Marketable securities may 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 unless otherwise directed by Kakenya’s Dream’s Finance and Audit Committee. 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 Executive Committee, in consultation with the President.
- Legacy Gifts, Bequests and Beneficiary Designations: Donors are encouraged to make bequests to Kakenya’s Dream under their wills, and to name Kakenya’s Dream as the beneficiary under trusts, commercial annuities and retirement plans.
- Matching Gifts: Kakenya’s Dream seeks to optimize matching opportunities as fully as possible. Cash gifts received from organizations or corporations to match gifts or volunteer time from individuals associated with that company will be credited to the company, with soft credit to the individual donor’s record. Unless explicitly prohibited by the matching organization, these funds will be allocated to the same purpose as the individual donor’s gift.
- Life Insurance: Kakenya’s Dream will accept gifts of life insurance where Kakenya’s Dream 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.
- Endowment Gifts: Endowment gifts to the existing endowment fund, the Vicki Sant Scholarship Fund, will be accepted without review, with the intention of being held in perpetuity. The endowment will provide a consistent source of revenue by maximizing the return on the principal, in accordance with the Investment Policy approved by the Board of Directors. If a donor wishes to create a new endowment fund, the Executive Committee, in conjunction with the President, must approve how the gifts may be used and the usage must align with the mission of Kakenya’s Dream.
Gifts Accepted Subject to Prior Review — Certain forms of gifts or donated properties may be subject to review prior to acceptance. Examples of gifts subject to prior review include, but are not limited to:
- Tangible Personal Property
- In-Kind Gifts: The donor is responsible for shipping costs as well as custom fees/import taxes if the gift is transferred internationally. Donors who wish to donate in-kind must complete an In-Kind Donation Form in advance of the acceptance of the gift/service.
- Professional Services
- Intellectual Property Rights
- Real Estate
- Proposed New Endowment Funds
- Charitable Gift Annuities
- Charitable Remainder Trust
- Charitable Lead Trust
VI. Unrestricted and Restricted Gifts
Unrestricted gifts and gifts restricted for specific programs and purposes may be accepted, provided they are consistent with Kakenya’s Dream’s mission, purposes and priorities as described above. Kakenya’s Dream records each gift according to the restrictions indicated by the donor. If specific restrictions are indicated and the donor’s restrictions cannot be followed, the gift will not be accepted.
VII. Conflict of Interest
Employees, Board Members, consultants, and volunteers of Kakenya’s Dream who engage in the solicitation of gifts on behalf of the organization shall not personally benefit by way of commission, contract fees, salary, or other benefits from any donor in the performance of their duties on behalf of Kakenya’s Dream. The Board of Directors will assure itself that Kakenya’s Dream personnel are conscientious and act accordingly in all dealings with donors in order to avoid even the appearance of any act of self-dealing.
VIII. Donor Acknowledgement, Recognition, and Confidentiality
Kakenya’s Dream will record a gift at its valuation for purposes described on the date of the gift. Gifts made by check will be recorded by the date of the check, rather than the date received.
All gifts to Kakenya’s Dream will receive acknowledgement from the Kakenya’s Dream Development Office within two weeks of receiving the gift. An acknowledgement letter including a formal tax receipt for cash donations and pledge payments will be sent to each donor upon acceptance of a gift.
All donors contributing $1,250 or more annually, also referred to as the Kuza Circle, will be recognized in the digital annual report.
All donors contributing $10,000 or more annually will additionally be recognized on the Kakenya’s Dream website or similar public relations communications.
Donors contributing $50,000 or more annually may be eligible to visit the program site, subject to Donor Visitation Policies and guidelines.
Naming Opportunities are reserved.
Requests for donor anonymity will be honored, and donors who wish to remain anonymous may do so with every confidence, except in accordance with the law and reporting to the IRS.
Memorial and honorary gifts are encouraged by Kakenya’s Dream as generous and thoughtful ways to recognize people’s lives and accomplishments. If the contact information is provided, Kakenya’s Dream will send a letter to the honoree or family indicating a gift has been made in their honor/memory.
IX. Donor Rights
All Kakenya’s Dream donors have the following rights:
- To be informed of the organization’s mission, the way the organization intends to use donated resources, and its capacity to use donations effectively for their intended purposes.
- To receive a timely receipt documenting the donation.
- To be informed of the identity of those serving on the organization’s governing Board and to expect the Board to exercise prudent judgment in its stewardship responsibilities.
- To have access to the organization’s summary financial data.
- To be assured their gift(s) will be used for the purposes for which they were given.
- To receive appropriate acknowledgment and recognition.
- To be assured that information about their donation is handled with respect and confidentiality to the extent provided by law.
- To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature.
- To be informed whether those seeking donations are volunteers, employees of the organization, or hired solicitors.
- To feel free to ask questions when making a donation and to receive prompt, truthful, and forthright answers
X. Amendments to the Gift Acceptance Policy
The Gift Acceptance Policy will be reviewed at least every two years by the Development Committee. Any and all changes, or deviations from, and/or additions must be approved by the Board of Directors.