POLICY TYPE: Executive Limitations
With respect to the acceptance of gifts and disposition of tangible property, the lead minister shall not financially overburden CVUUS, jeopardize its nonprofit status, participate in legally risky or ineffective transactions, tarnish the organization’s image or reputation, overburden staff resources, or incur unsustainable stewardship obligations.
Accordingly, the lead minister shall not accept or dispose of any tangible property gift:
- Whose fair market value exceeds $5000.
- Without first assuring that adequate financial resources exist to sustain the gift in a manner that does not overstretch CVUUS resources.
- That breach “private benefit” rules, that do not advance the mission of the organization, or that in any other manner violate IRS restrictions applicable to CVUUS as a nonprofit organization.
- That expose CVUUS to significant legal risk.
- That require the investment of staff time and effort that is not proportionate to the benefits received.
In addition, the lead minster may not:
- Disregard donor restrictions, or use funds for purposes other than designated by the donor.
- Manage restricted gift that are of an inappropriate size (i.e., the gift is too small to warrant the record-keeping required)
- Fail to obtain an appraisal that is less than one year old from the donor of tangible property gifts with a fair market value between $500 and $5000.
- Accept gifts of real estate.
Approved March 21, 2012