The Sausalito Woman’s Club Preservation Society (SWCPS) is a non-profit 501(c)(3) Publicly Supported Charity organization. We solicit and accept gifts that are consistent with our mission and that support our core programs, as well as special projects. Donations will generally be accepted from individuals, partnerships, corporations, foundations, government agencies, or other entities, without limitations.
In the course of our regular fundraising activities, SWCPS will accept donations of money, real property, personal property, stock, and in-kind services. Certain types of gifts must be reviewed prior to acceptance due to the special liabilities they may pose to SWCPS. Examples of gifts which will be subject to review include gifts of real property, gifts of personal property, and gifts of securities.
1. Funds (see footnote) will be solicited in a respectful manner and without pressure.
2. Donor designated restrictions on contributions will be honored to the fullest extent possible so long as they are consistent with SWCPS goals and values.
3. SWCPS is a non-profit 501(c)(3) organization and contributions made to the organization are tax deductible to the fullest extent allowed by law.
4. Written tax receipts will be issued for all cash donations received by SWCPS. If the donor receives anything in exchange for their donation, such as a dinner or event admission, the tax receipt will clearly state what portion of the donation is tax deductible.
5. Written tax receipts for in-kind goods and services donations will list the specific good or service donated, without a market dollar value assigned. This market value is for the donor to determine with their tax adviser. 6. At the beginning of each calendar year SWCPS will 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.
Gift Acceptance Policy
Gifts to SWCPS may be made in any amount for the benefit of any of SWCPS 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 the SWCPS Board of Directors.
1. Gifts of Cash. SWCPS will accept gifts of cash, checks, money orders and payments via credit or debit card.
2. Tangible personal property. The property must be saleable and the donor must agree that the property can be sold unless SWCPS agrees to use the property for a purpose related to the exempt purpose of the organization. In any case 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 SWCPS.
3. Substantiation. It will 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.
1. Gift Agreements. Where appropriate and advisable, SWCPS may enter into a written gift agreement with a donor which will specify the terms of any restricted gift, which may include provisions regarding donor recognition.
2. Pledge Agreements. SWCPS’s acceptance of pledges of future support (including by way of matching gift commitments) will be contingent upon the execution and fulfillment of a written Charitable Pledge Agreement, on a form supplied by SWCPS, which will specify the terms and conditions of the pledge including any provisions regarding donor recognition.
3. Fees. The donor is responsible for (a) the fees of independent legal counsel retained by donor for completing a gift to SWCPS; (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 SWCPS.
4. Valuation of Gifts. SWCPS will 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 generally accepted accounting principles (GAAP).
5. IRS Filings upon Sale of Gifts. To the extent applicable, SWCPS will file IRS Form 8282 upon the sale or disposition of any charitable deduction property sold within three (3) years of receipt by SWCPS. “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 (e.g., the property listed in Section B on Form 8283). SWCPS will file this form within 125 days of the date of sale or disposition of the asset in accordance with applicable IRS rules and regulations.
6. Written Acknowledgement. SWCPS will provide written acknowledgement of all gifts made to SWCPS and comply with the current IRS requirements in acknowledgement of the gifts.
7. Changes to or Deviations from the Policy. This Policy has been reviewed and accepted by the SWCPS 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.