Purpose

To provide a framework for the types and forms of gifts that will provide maximum benefit both to the donor and to the Lower Columbia Preservation Society (LCPS).

The LCPS Gift Acceptance Policy addresses both current and planned gifts. The goal is to encourage support for the Lower Columbia Preservation Society without encumbering us with gifts that may generate costs or liabilities in excess of the benefit provided, or that are restricted in a manner not consistent with the purpose, goals or policies of the Lower Columbia Preservation Society.

All gifts given to the Society must meet the guidelines set forth by the IRS for charitable donations.

Gift Acceptance Committee

In some cases, a proposed gift may require consultation by the Executive Committee, as outlined below. The LCPS Executive Committee consists of the following individuals:
1. President of the Board

2. Vice President
3. Treasurer
4. Secretary

These policies and procedures are to be reviewed yearly to ensure that components are up-to-date. The Executive Committee is responsible for initiating this review.

AUTHORITY TO ACCEPT GIFTS
1. An outright, unrestricted cash gift of any amount may be accepted by the President or members of the board.

2. A non-cash gift (including real property, stock, or a planned gift vehicle) may be accepted by the President or members of the board subject to a review by the Executive Committee.

PROFESSIONAL RELATIONSHIPS
In all dealings with legal, financial and planned giving advisors, ethical relationships will be established and maintained. If asked to recommend such advisors and professionals to donors, a list of 3 - 5 names will be presented and the choice of advisor will be made by the donor.
The Lower Columbia Preservation Society will not draft legal documents for any donor or planned gift. In most cases, any and all fees associated with Planned Gift legal documents, appraisals or assessments will be paid by the donor before the gift is accepted. All documents submitted by the donor's advisors will be reviewed by the LCPS's legal counsel.

Outright Gifts

CASH
1. Gifts in the form of cash and checks shall be accepted regardless of amount unless there is a question as to whether the donor has sufficient title to the assets or is competent to legally transfer the funds as a gift to the LCPS.

2. All checks must be made payable to LCPS and shall in no event be made payable to an employee, agent or volunteer for the credit of the LCPS.

PUBLICLY TRADED SECURITIES
1. Securities which are traded on the New York or American Stock Exchanges, or other readily marketable securities, shall be accepted by and sold at an appropriate time, preferably within 48 hours and at the discretion and advice of the Executive Committee. In no event shall an employee or volunteer commit to a donor that a particular security will be held without prior written authorization to do so by the Executive Committee.

CLOSELY HELD SECURITIES
1. Non-publicly traded securities may only be accepted after approval of the Executive Committee.

2. Such securities may be subsequently disposed of only with the approval of the Executive Committee.

3. No commitments shall be made for disposition of such securities prior to completion of the gift.

REAL PROPERTY
1. No gift of real estate shall be accepted without prior written approval of the Executive Committee.

2. No gift of real estate shall be accepted without first being appraised by an independent party acceptable to the LCPS who shall have no business or other relationship with the donor or the LCPS. If appropriate to the property, a Level I Environmental Site Assessment would be performed by a qualified geologist, engineer, or site assessment firm.

3. A follow-up Level II Site Assessment may be required dependent on the initial study. Clean up of contamination would be completed prior to the acceptance of the gift property, except in rare cases as determined by the Executive Committee.

4. LCPS will not accept real estate encumbered by a mortgage, unless special
circumstances exist and with written authorization of the Executive Committee.

5. Gifts of real property valued at $5,000 and over must be evaluated by an independent appraiser and appropriate IRS forms required will be completed.

TANGIBLE PERSONAL PROPERTY
1. No personal property shall be accepted unless there is reason to believe the property can be quickly disposed of or is of some benefit to the general purpose of the Society. No personal property shall be accepted that obligates the LCPS to ownership in perpetuity. No perishable property or property which will require special facilities or security to properly safeguard will be accepted without prior Executive Committee approval.

2. Property valued at $5,000+ will be independently appraised and appropriate IRS forms completed. For tax deduction purposes, the donor must obtain a written appraisal for inclusion on his/her tax form. The Lower Columbia Preservation Society does not determine the value of donated personal property.

PLANNED GIFT TYPES
1. The gift types include Bequests, Life Insurance, Irrevocable or Revocable Trusts, Life Estates, Charitable Remainder Annuity and Unitrusts, Charitable Lead Trust (Annunities). All planned gift vehicles will be reviewed by the Executive Committee and the LCPS's legal counsel.

2. Gift types can be funded with cash, marketable securities, closely held stock, real estate, notes, mortgages and contracts and miscellaneous tangible personal property. The funding source for the planned gift will be reviewed according to the previous stated policy for outright gifts.

Gift Acknowledgments

1. All gifts to the Lower Columbia Preservation Society are sincerely appreciated and promptly acknowledged with a letter. The current IRS rulings and requirements will be adhered to concerning gifts of $250+ as well as gifts of $75+ and providing goods or services to the donor.

2. Publicly traded stock gifts are attributed the median price on the day received.

3. Non-publicly traded stocks will be reviewed by the Executive Committee.

Gift Levels

Requirements of gift minimums pertain mostly to planned and estate gifts, trusts and other gift vehicles. In setting and updating these gift amounts, the cost of administration and return is a factor.

1. Trusts are established for a minimum of $99,500. The LCPS may serve as trustee for charitable remainder trusts on the condition the trust instrument shall give LCPS the authority to delegate management of trust funds to a bank, investment advisor, or other financial institutions, as well as to remove or change such financial institution. An appropriate management fee may be charged against the trust as normally required by the bank or financial institution.

2. Bequest gifts of any amount may be received. Donors are encouraged to leave their charitable bequests by Will as unrestricted, rather than specific program areas that may or may not be in existence in the future.

3. In-kind donations of goods and services are accepted from competent professionals wishing to assist the organization with its on-going operation. Donors wishing to contribute tangible property will be accepted only if they can be currently used. In-kind gifts are assigned no value by LCPS. It is the responsibility of the donor to do so for tax purposes.

Revisions

This Gift Acceptance Policy can be amended, revised, and updated by a 2/3rds vote of the Lower Columbia Preservation Society Board of Directors at a regularly scheduled Board Meeting or any other meeting called for such purpose.