KFI Gift Acceptance PolicyCriteria and Benchmarks
KFI Gift Acceptance Policy
Kodai Friends International, Inc. is a nonprofit 501(c) (3) corporation organized under the laws of the State of Delaware. The mission of Kodai Friends International is to support the educational program of Kodaikanal International School in India and its alumni.
Purpose of Gift Policies and Guidelines
The Board of Directors and staff solicit current and deferred gifts from individuals, corporations and foundations to help fulfill the mission of Kodai Friends International. These policies and guidelines govern the solicitation and acceptance of gifts made to Kodai Friends International, and provides guidance to prospective donors and their advisors when making gifts.
Kodai Friends International reserves the right to refuse any gift that is not consistent with its mission. In addition to, and without limiting the generality of, the following gifts will not be accepted:
• Gifts that violate any federal, state or local statute or ordinance.
• Gifts that contain unreasonable conditions e.g. a lien or other encumbrance or gifts of partial interest in property.
• Gifts that are made with the condition that the proceeds will be spent for the personal benefit of a named individual.
• Gifts that could expose Kodai Friends International to liability.
Types of Gifts
Cash, Marketable Securities and Vehicles: Gifts of cash, marketable securities and vehicles, either unrestricted or restricted to an established Kodai Friends International Fund are acceptable without prior review by the Board of Directors.
All other Gifts: The final decision on the acceptance or refusal of all other gifts, including but not limited to, closely held securities, bequests, charitable remainder trusts, life insurance, real estate, mineral rights shall be made by the Board of Directors.
Pledges: These are commitments to give a specific dollar amount according to a fixed schedule. A pledge will be considered unfulfilled if it is unpaid after 12 months of the pledge date or after 12 months of the last scheduled payment, whichever is applicable. Kodai Friends International regularly sends reminders and statements to donors with outstanding pledge balances. Once a pledge becomes unfulfilled, a last collection attempt in writing is made with the donor, after which the donation is written off following standard accounting procedures.
Matching Gifts: Kodai Friends International honors each organization’s matching gift policies while optimizing matching opportunities as fully as possible. Gifts from organizations or corporations to match gifts from individuals who are associated with that organization will be credited to the company with a 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.
Donor Acknowledgment and Recognition
General Gift Acknowledgment:
• All gifts will be acknowledged within one week of receipt.
• All acknowledgments will be emailed or in writing on Kodai Friends International letterhead, and comply with the current IRS requirements in acknowledgment of gifts.
• Gifts of $1,000 or more will also be acknowledged with a phone call from a member of the Board of Directors within a week of the receipt of the gift.
Donor Recognition: As the Annual Report is the main recognition tool, all donors will be recognized in the report based on descending levels of the values of their contributions made during the reporting fiscal years.
Anonymity: Requests for donor anonymity will be honored, and donors who wish to remain anonymous may do so with every confidence.
• Kodai Friends International endorses the Donor Bill of Rights created by the Association of Fundraising Professionals.
• Files, records, mailing list, written reports of interviews and solicitations will be maintained in the donor record maintained and controlled by Kodai Friends International in cooperation with Kodaikanal International School.
• This information is confidential and is strictly for the use of Kodai Friends International Board and its designated staff, and Kodaikanal International School and its designated staff.
• Use of this information shall be restricted to organization purposes only.
• The donor has the right to review his or her donor record.
• Excepting Kodaikanal International School, the names of donors will not be provided to other organizations nor will any lists be sold or given to other organizations.
Establishing New Donor Designated Funds
Endowed Scholarship Funds: By resolution, the Board of Directors has set the minimum amount to establish an Endowed Scholarship Fund at $250,000 subject to review by the Board of Directors. ~KFI 2017.04
Named, Temporarily Restricted, Self-Liquidating Scholarship Funds: By resolution, the Board of Directors has set the minimum amount to establish a named, temporarily restricted, self-liquidating scholarship fund at 100% of the annual Kodaikanal International School tuition fee at the time the fund is established, times two, subject to review by the Board of Directors. ~KFI 2017.03
Donor Designated Temporarily Restricted Funds: By resolution, the Board of Directors has set the minimum amount to establish a donor designated, temporarily restricted fund at $10,000 subject to review by the Board of Directors. ~KFI 2017.02
Changes to Gift Acceptance Policies
These policies and guidelines have been reviewed and approved by the Board of Directors. The Board of Directors must approve any amendments to these policies.