Nonprofit Gift Acceptance Policy Compliance Review
Gifts of complex assets can create significant obligations, costs, and risks without a comprehensive gift acceptance policy. This review ensures the organization evaluates all gifts consistently, accepts only those aligned with mission and capacity, and meets IRS documentation requirements.
- Industry: Nonprofit
- Frequency: Annually and per complex gift
- Estimated Time: 2-3 hours
- Role: Development Director / Board Treasurer
- Total Items: 26
Gift Acceptance Policy Currency
Verify gift acceptance policy is current.
- Written gift acceptance policy adopted by the board?
- Policy reviewed annually by development committee or board?
- Policy reviewed by legal counsel for current IRS compliance?
- Policy covers all common complex gift types (real estate, securities, life insurance, vehicles, planned gifts)?
Securities and Financial Asset Gifts
Verify proper handling of securities gifts.
- Organization has brokerage account for receiving gifted securities?
- Policy specifies timing of securities liquidation (immediately upon receipt)?
- Cryptocurrency gift acceptance or declination policy adopted?
- Closely held stock reviewed for restrictions and marketability before acceptance?
Real Estate Gift Requirements
Verify real estate gift procedures.
- Environmental assessment required before accepting real estate gifts?
- Independent qualified appraisal required for all real estate gifts?
- Mortgages, easements, and encumbrances reviewed before acceptance?
- Plan for selling or using accepted real estate documented?
- IRS Form 8282 Donee Information Return filed if property sold within 3 years?
Conditional and Naming Gifts
Review conditional gift and naming rights management.
- All conditions attached to gifts reviewed by board before acceptance?
- Naming rights gifts documented with written agreement covering term and revocation?
- All complex gifts reviewed for mission alignment and reputational risk?
- Restricted gifts reviewed for ability to fulfill donor's specified purpose?
Planned Giving Documentation
Verify planned giving documentation.
- Bequest and estate gift expectancies tracked in donor database?
- Planned gift commitments acknowledged and stewardship maintained?
- Charitable remainder trusts reviewed by legal counsel before acceptance?
- Life insurance gifts reviewed for premium maintenance obligations?
IRS Documentation Requirements
Verify IRS documentation requirements are met.
- Donors of non-cash gifts over $500 informed of Form 8283 requirement?
- Organization signs Section B of Form 8283 for non-cash gifts over $5,000?
- IRS Form 8282 filed within 125 days if donee organization sells contributed property?
- Gift files with all documentation maintained for minimum 7 years?
- Form 990 Schedule M completed for noncash contributions if required?
Related Nonprofit Checklists
- Nonprofit Monthly Financial Reporting Package
- Nonprofit Financial Policy Annual Review and Update
- Nonprofit Investment and Endowment Management Review
- Nonprofit Accounts Payable and Disbursement Controls
- Nonprofit Fundraising Event Planning and Compliance Checklist
- Nonprofit Volunteer Background Screening and Risk Assessment
- Nonprofit Volunteer Scheduling and Retention Program Audit
- Nonprofit Event Day Volunteer Management
Related Financial Management Checklists
- Nonprofit Grant Tracking and Fund Accounting Ledger Review - FREE Download
- Nonprofit Donor Receipt and Acknowledgment Compliance Audit - FREE Download
- Nonprofit Annual Audit Readiness Review - FREE Download
- Nonprofit Annual Budget Development and Board Oversight - FREE Download
- Nonprofit Financial Internal Controls Annual Review - FREE Download
- Nonprofit Monthly Financial Reporting Package - FREE Download
- Nonprofit Financial Policy Annual Review and Update - FREE Download
- Nonprofit Investment and Endowment Management Review - FREE Download
- Nonprofit Accounts Payable and Disbursement Controls - FREE Download
- Nonprofit Payroll Processing and Compliance Review - FREE Download
Why Use This Nonprofit Gift Acceptance Policy Compliance Review?
This nonprofit gift acceptance policy compliance review helps nonprofit teams maintain compliance and operational excellence. Designed for development director / board treasurer professionals, this checklist covers 26 critical inspection points across 6 sections. Recommended frequency: annually and per complex gift.
Frequently Asked Questions
What does the Nonprofit Gift Acceptance Policy Compliance Review cover?
This checklist covers 26 inspection items across 6 sections: Gift Acceptance Policy Currency, Securities and Financial Asset Gifts, Real Estate Gift Requirements, Conditional and Naming Gifts, Planned Giving Documentation, IRS Documentation Requirements. It is designed for nonprofit operations and compliance.
How often should this checklist be completed?
This checklist should be completed annually and per complex gift. Each completion takes approximately 2-3 hours.
Who should use this Nonprofit Gift Acceptance Policy Compliance Review?
This checklist is designed for Development Director / Board Treasurer professionals in the nonprofit industry. It can be used for self-assessments, team audits, and regulatory compliance documentation.
Can I download this checklist as a PDF?
Yes, this checklist is available as a free PDF download. You can also use it digitally in the POPProbe mobile app for real-time data capture, photo documentation, and automatic reporting.