1. Purpose

This policy serves to guide the Board of Directors and staff of Nodark Inc. (the “Organization”) in the acceptance of gifts and to provide transparency to donors regarding how their contributions will be managed.

2. Gift Acceptance Criteria

  • Cash and Equivalents: Nodark Inc. accepts cash, checks, money orders, credit card payments, and electronic giving such as Venmo, CashApp, and Zelle. Checks should be made payable to “Nodark Inc.”
  • Publicly Traded Securities: It is the general policy of the Organization to liquidate all donated securities immediately upon receipt.
  • Tangible Personal Property: Gifts of “in-kind” property (equipment, supplies) will be accepted only if they can be used to further the Organization’s exempt purpose.
  • Real Estate & Complex Assets: Acceptance of real estate or closely held business interests requires a majority vote by the Board and a review of potential liabilities (e.g., environmental or debt-related).

3. Use of Funds (Restricted vs. Unrestricted)

  • Unrestricted Gifts: Unless otherwise specified by the donor, all gifts are considered unrestricted and will be used to support the Organization’s general operations and greatest areas of need.
  • Donor-Restricted Gifts: Nodark Inc. will honor donor intent for specific programs or projects. However, the Organization reserves the right to refuse any gift with restrictions that are deemed too narrow, inconsistent with the mission, or administratively burdensome.
  • Variance Power: If the Board determines that a donor’s restriction has become unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community, the Board may redirect such funds to a similar purpose that aligns with the donor’s original intent.

4. Substantiation and Receipts

In accordance with 2026 IRS regulations:

  • Written Acknowledgments: Nodark Inc. will provide a written receipt for all donations. For single contributions of $250 or more, the receipt will include a description of any non-cash property.
    • The name of the donor
    • The date of the gift
    • A description of the gift (but not its value)
    • A statement confirming whether any goods or services were provided in exchange for the gift
    • For gifts of goods or services, a statement of the nonprofit’s good faith estimate of their value
  • Receipt for Cash and Non-Cash Gifts: Donors will receive a written receipt for all gifts, including cash and non-cash donations. The receipt will include:
    • Donor’s name
    • Amount of the gift for cash donations
    • Description of non-cash gifts
    • Date of the gift
    • A statement regarding any consideration (goods or services) provided in exchange for the gift.
  • IRS Form 8283: For non-cash gifts valued at $500 or more, Nodark Inc will provide the donor with IRS Form 8283, which must be signed by an authorized representative of the organization. If the gift exceeds $5,000 in value, the donor is responsible for obtaining an independent appraisal and attaching it to the IRS Form 8283.
  • Quid Pro Quo Disclosures: If a donor receives a benefit (e.g., a dinner or merchandise) in exchange for a contribution over $75, the receipt will clearly state the Fair Market Value (FMV) of that benefit and the deductible portion of the gift.
  • No Tax Advice: Nodark Inc. does not provide legal or tax advice. Donors are encouraged to consult with their own tax professionals regarding the deductibility of their gifts.

5.  Conflicts of Interest

  • The Gift Acceptance Committee must be mindful of any conflicts of interest in the acceptance of gifts. If any member of the committee has a personal or financial interest in a gift, they must recuse themselves from participating in the review of that gift.

6.  Review and Amendment of Policy

  • This Gift Acceptance and Documentation Policy will be reviewed periodically by the Board of Directors to ensure it remains in compliance with relevant laws and best practices. Any amendments to the policy will be approved by the Board.

7. Donor Privacy

  • Nodark Inc. values the privacy of its supporters. We will not sell, share, or trade donor information with any third parties, nor will we send mailings to our donors on behalf of other organizations.
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