FOR THE LOVE OF ALEX
DONATION POLICIES

For the Love of Alex Inc. (FTLOA)is a non-profit 501(c)(3) organization and its operating budget is comprised mostly of financial contributions, donations, and gifts. Because so much of FTLOA’s budget to carry out its nationwide mission depends on financial contributions, donations and gifts, it is important for FTLOA to communicate to its supporters how it handles such donations and to create a consistent organizational approach and practice regarding this vital part of its service.

top

Fundraising/Receipt Policy

Funds shall be solicited in a respectful manner and without pressure.

Donor designated restrictions on contributions shall be honored to the fullest extent possible so long as they are consistent with FTLOA goals and values.
FTLOA is a non-profit 501(c)(3) organization and contributions made to the organization are tax deductible to the fullest extent allowed by law.
Written tax receipts shall be issued for all donations. If the donor receives anything in exchange for their donation, the tax receipt shall clearly state what portion of the donation is tax deductible.

At the beginning of each calendar year FTLOA shall provide each donor who has contributed over the course of the prior year, with written documentation of all tax deductible gifts received during the prior calendar year.

top

Gift Acceptance Policy

Gifts to FTLOA may be made in any amount for the benefit of any of FTLOA programs. Gifts may be designated for a specific program or purpose. Gifts may also be unrestricted in which case they will be disbursed to the area of greatest need at the sole discretion of FTLOA.

top
Gifts of Cash. FTLOA will accept gifts of cash, checks, money orders and payments via credit or debit card.

top
Marketable Securities. FTLOA will accept gifts of publicly traded securities, stocks and bonds. To be acceptable by FTLOA, stock in privately owned companies must have a qualified appraisal performed by an independent professional appraiser and the appraiser report must accompany such stock when given to FTLOA. Prior to approval and acceptance of such a gift, such gifts must first be reviewed by the FTLOA Board of Directors. If immediately marketable, the stock in privately owned companies will be sold. If such stock is not immediately marketable, they will be kept in a secure facility such as a bank or other financial institution until such time when they can be redeemed, sold or liquidated.

top
Real Estate. Gifts of real estate may be accepted by FTLOA. FTLOA review of gifts of real estate shall include, but not be limited to, legality, title, encumberances, liens, mortgages, easements, restrictions, and environmental issues. Until the real estate or property is sold and proceeds are deposited into the FTLOA account, all legal obligations related to ownership of the real estate such as taxes, insurance, utilities and security shall remain with the donor.
Tangible personal property. The property must be saleable and the donor must agree that the property can be sold unless FTLOA agrees to use the property for a purpose related to the exempt purpose of the organization. At least one qualified appraisal by an independent professional appraiser is required and such appraisal must be shared with FTLOA prior to any FTLOA decision to accept such a gift of tangible personal property.

top
Appraisals. In any of the cases where an appraisal is required, it is the sole responsibility of the donor to obtain and pay for competent appraisal services and to share the results of such appraisal with FTLOA.

top
Substantiation. It shall be the responsibility and legal obligation of the donor to seek and obtain advice from his or her professional financial advisors, to substantiate any tax deductions, and to comply with IRS regulations and policies, including the filing of IRS Form 8283.

top

Additional Provisions

Gift Agreements. Where appropriate and advisable, FTLOA may enter into a written gift agreement with a donor which shall specify the terms of any restricted gift, which may include provisions regarding donor recognition.

top
Pledge Agreements. FTLOA’s acceptance of pledges of future support (including by way of matching gift commitments) shall be contingent upon the execution and fulfillment of a written Charitable Pledge Agreement, on a form supplied by CHF, which shall specify the terms and conditions of the pledge including any provisions regarding donor recognition.

top
Fees. The donor is responsible for (a) the fees of independent legal counsel retained by donor for completing a gift to FTLOA; (b) any appraisal and appraisal report fees; (c) the cost of any environmental assessments, audits and reviews; (d) any title searches, reports, insurance or binders (in the case of real property); and (e) all other third-party costs and fees associated with the transfer of the gift to FTLOA.

top
Valuation of Gifts. FTLOA shall record gifts received at their valuation on the date of gift, except that, when a gift is irrevocable, but is not due until a future date, the gift may be recorded at the time the gift becomes irrevocable in accordance with GAAP.

top
IRS Filings upon Sale of Gifts. To the extent applicable, FTLOA shall file IRS Form 8282 upon the sale or disposition of any charitable deduction property sold within three (3) years of receipt by FTLOA. “Charitable deduction property” means any donated property (other than money and publicly traded securities) if the value claimed by the donor exceeds $5,000 per item or group of similar items donated by the donor to one or more donee organizations. FTLOA shall file this form within 125 days of the date of sale or disposition of the asset in accordance with applicable IRS rules and regulations.

top
Written Acknowledgement. FTLOA shall provide written acknowledgement of all gifts made to FTLOA and comply with the current IRS requirements in acknowledgement of the gifts.

top
Changes to or Deviations from the Policy. This Policy has been reviewed and accepted by the FTLOA’s Board of Directors, which has the sole authority and discretion to change this Policy. In addition, the Board of Directors must approve in writing any deviations from this Policy.

top

Donation Refunds

Donations to FTLOA are non-refundable, irrevocable gifts. However, if you have made an error in making your donation to FTLOA, we will honor your request for a refund made within fifteen (15) days of your donation.

top
To request a refund, email us at info@fortheloveofalex.org. Refunds are returned using the original method of payment. If you made your donation by credit card, your refund will be credited to that same credit card.

top
Recurring Donation Change or Stop Policy. To change or stop your monthly recurring giving, please email us at info@fortheloveofalexinc.org. FTLOA will only be able to refund the previous months donations only.