Community Radio for Northern Colorado Gift Acceptance Policy
Purpose of Policy
This policy serves as a guideline to Community Radio for Northern Colorado (CRNC) staff involved in accepting gifts, to outside advisors who assist in the gift planning process, and to prospective donors who wish to make gifts to CRNC. This policy enables CRNC to accept gifts from individuals, corporations and foundations in a manner that supports its purposes and activities. It is intended only as a guide and allows for some flexibility on a case-by-case basis.
Types of Gifts
Cash – CRNC, regardless of the amount, accepts gifts by cash, check or credit card. Checks should be made payable KUNC or CRNC. In no event shall a check be made out to an individual or company who represents CRNC.
Pledges – CRNC accepts pledges. CRNC will expect that all pledges will be in support of CRNC’s mission, will be made in good faith and will be honorable fulfilled by each donor. CRNC’s policy is to not pursue any unfilled pledge commitment through legal means unless the CRNC Board of Directors votes that special situations or circumstances involving any particular pledge would warrant such action.
Stock Gifts – CRNC can accept marketable securities, such as those traded on the stock exchange. The gift must be made in the name of Community Radio for Northern Colorado dba KUNC. The gift securities will be sold immediately. The value of the securities shall be determined in a manner consistent with IRS regulations. The securities shall be electronically processed, (transferred DTC), with the valuation date the date the securities are received in CRNC’s account. Click here for specific information on how to transfer your gift of stock to KUNC.
Tangible Personal Property – The only tangible personal property that CRNC currently accepts as gifts is vehicles. The donation of vehicles is accepted through a third party, the Car Talk Vehicle Donation Program.
Matching Gifts – As a 501(c)(3) organization, CRNC is eligible for the matching gift programs of many corporations. The process must be initiated by the employee through their Human Resources department.
Endowment Funds – Gifts may be made at anytime to the CRNC Endowment Funds, consisting of a Permanent Endowment and a Board-Designated Endowment. Additional information about these funds is available upon request.
Planned Gifts – CRNC will accept planned gifts, which will be considered on a case by case basis by the Development Committee of the CRNC Board of Directors. As with all matters concerning estate planning, donors are encouraged to consult their estate and tax specialists.
- Life Insurance – CRNC accepts gifts of paid life insurance policies and being named as a beneficiary on an individual’s life insurance policy
- Bequest – CRNC accepts bequests from wills. Restricted bequests should be discussed with CRNC to ensure that the restrictions are consistent with the mission and goals of CRNC.
- Retirement Assets – CRNC accepts being named as a beneficiary for a retirement account.
- Charitable Gift Annuity – CRNC accepts charitable gift annuities under the following conditions
- Administrative fees shall be paid from the income earned on the charitable gift annuity
- There shall be no more than two beneficiaries on the charitable gift annuity
- The minimum gift to establish a charitable gift annuity is $10,000
- No income beneficiary for a charitable gift annuity shall be younger than 60 years old.
- Charitable Lead Trust – CRNC may accept a designation as income beneficiary of a charitable lead trust. CRNC will not accept an appointment as Trustee of a charitable lead trust.
- Charitable Remainder Trust – CRNC may accept designation as remainder beneficiary of a charitable remainder trust. CRNC will not accept appointment as Trustee of a charitable remainder trust.
- Deferred Charitable Gift Annuity –CRNC accepts deferred charitable gift annuities under the following conditions
- There shall be no more than two beneficiaries on the deferred charitable gift annuity
- The minimum gift to establish a deferred charitable gift annuity is $10,000
- No income beneficiary for a deferred charitable gift annuity shall be younger than 30 years old
- Other Gifts – CRNC reserves the right to review other gifts not specifically described above.
CRNC accepts unrestricted gifts and gifts for specific purposes, provided such gifts are consistent with its stated mission, purposes and priorities. All final decisions on the restrictive nature of a gift and its acceptance shall be made by the Development Committee of the CRNC Board of Directors.
CRNC reserves the right to refuse any gift that it believes is not in the best interest of CRNC.
Accepted gifts will be acknowledged by CRNC staff in accordance with federal regulations. All donors will be sent a “thank you” letter. In addition, “Honor” or “Memorial” gifts will be acknowledged with a second letter that will be sent to the person being honored, the family of the deceased or other donor designee.
Donors contributing $1,000 or more per year will be acknowledged in the CRNC Annual Report. If a donor indicates a desire for anonymity or confidentiality, such requests should be made in writing and CRNC will hold all gift and investment information in confidence.
Except as required by law, all information obtained from or about donors or prospects shall be held in strictest confidence by CRNC. Upon the donor’s request, the name, amount, or conditions of any gift shall not be made public. CRNC does not sell or trade its donor database.
Gift Policy Review
The Gift Acceptance Policy will be reviewed by the CRNC Board of Directors as needed or at least every two year
Revised: February, 16th 2012