Gift Acceptance Policy

III. Qualification and Registration

SamaraCare is a nonprofit organization as described in section 501(c)(3) of the Internal Revenue Code. Thus, the organization qualifies under both federal and state law as a tax-exempt non-profit organization in which charitable contributions are deductible to the full extent of the law for income, gift, and estate tax purposes.

The organization’s federal tax identification number is 36-2846570

IV. Policy & Guidelines

Gift Definition

A gift is defined as a voluntary transfer of assets from a person or an organization to SamaraCare. A gift is an irrevocable transfer of assets, motivated by charitable intent. Gifts are not generally subject to an exchange of consideration or other contractual duties between SamaraCare and the donor, except for certain split-interest gifts as set out in this Policy, although objectives may be stated and funds may be restricted to a specific purpose. A gift is not completed until it has been accepted by SamaraCare.

Role of Board

It is the role of the Board to consider and adopt general gift acceptance and development policies for SamaraCare. Such policies may include this statement of policy, as well as other policies and guidelines applicable to specific types of gifts and development efforts that may be adopted by the Board from time to time.

 Role of Committee

SamaraCare’s Board Executive Committee shall act as the Gift Acceptance Committee (“GAC”), and will meet on an as-needed basis to review the details of unique or complex gifts and perform a cost/benefit analysis. All final decisions on the acceptance or refusal of a gift shall be made by the Executive Committee, in consultation with the Executive Director and President/CEO.

 Authority to Execute

While various Development staff members may handle inquiries, negotiate

with donors, assemble documentation, and retain expert and technical consultants, only the President/CEO or Executive Director will have the overall authority to execute fund agreements on behalf of the organization. Assuming such activities follow approved procedures and assuming SamaraCare’s legal counsel approves such agreements, this authority to act will not require review or further approval by the Board.

 Gift Consideration

The primary consideration of gift acceptance or solicitation will be the impact of the gift on SamaraCare. When considering whether to solicit or accept gifts, SamaraCare will evaluate the following factors:

• Values – whether the acceptance of the gift compromises any of the core values of SamaraCare.
• Compatibility – whether there is compatibility between the intent of the donor and SamaraCare’s use of the gift.
• Public Relationships – whether acceptance of the gift damages the reputation of SamaraCare.
• Primary Benefit – whether the primary benefit is to SamaraCare, versus the donor.
• Consistency – whether acceptance of the gift is consistent with prior practice.
• Form of Gift – whether the gift is offered in a form that SamaraCare can use

without incurring substantial expense or difficulty.

• Effect on Future Giving – whether the gift will encourage or discourage future gifts.

 Gift Acceptance Review

Gifts generally accepted without review by the GAC:

• Cash or cash equivalents
• Marketable securities
• Bequests and Beneficiary Designations under Revocable Trusts, Life Insurance Policies, Commercial Annuities and Retirement Plans
• Charitable Remainder Trust, when named as remainder beneficiary
• Charitable Lead Trust, when named as an income beneficiary

Gifts accepted subject to prior review by the GAC include, but are not limited to:

• Tangible Personal Property
• Life Insurance
• Real Estate

 Gift Restrictions

SamaraCare reserves the right to refuse or decline any charitable gift that it believes is not in the best interests of the organization. These reasons include, but are not limited to:

• The gift or gift transaction involves an illegality
• The gift of gift transaction conflicts with SamaraCare’s policy or mission or would jeopardize the organization’s status as a 501 (c)(3) tax exempt organization under federal and state law
• The benefit of the gift is outweighed by negative publicity for SamaraCare that would result from the transaction
• The gift or gift transaction inhibits SamaraCare from seeking donations from other donors
• The benefit of the gift is insufficient to offset the extent of administrative and/or legal effort involved
• The donor wishes to exert control over how donated funds are used beyond the gift agreement

 Use of Legal Counsel

SamaraCare will seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate. Review of counsel is recommended for:

• Gifts of securities that are subject to restrictions or buy-sell agreements
• Documents naming SamaraCare as trustee or requiring SamaraCare to act in any fiduciary capacity.
• Gifts requiring SamaraCare to assume financial or other obligations.
• Transactions with potential conflicts of interest
• Gifts of property which may be subject to environmental or other regulatory restrictions.

 Role as Trustee

SamaraCare will not serve as trustee of charitable remainder trusts, charitable lead trusts, or other trust arrangements, and will recommend that the donor seek the services of a personal or professional trustee. To avoid personal conflicts of interest, no member of the staff of SamaraCare may knowingly serve as trustee or executor for a donor or prospective donor without the prior written permission of the President/CEO of SamaraCare.

 Donor’s Counsel

 SamaraCare’s staff will encourage prospective donors to have the terms of all proposed agreements reviewed by the donor’s own legal or financial advisors. The donor should also be advised that it is the donor’s responsibility to obtain any necessary appraisals, file appropriate tax returns, and defend against any challenges to claims for tax benefits.

 Gift Agreements

A gift agreement documents the mutual understanding between a donor and SamaraCare in relation to the donor’s charitable contribution. A formal gift agreement is generally required for new obligations entered into by SamaraCare, both for multi-year commitments and outright gifts of $20,000 or more. In general, the terms of any gift should be as flexible as possible to permit the most productive use of the funds over time, while clearly stating the intent of the donor. All endowed funds need to be formally documented.

Information appearing in a gift agreement includes, but is not limited to: the dollar amount of the charitable gift/pledge; the purpose and use of the fund if new and any restrictions; pledge payment schedule; and recognition, as well as any other requirements or obligations agreed upon by the donor and SamaraCare

Gifts/pledges that are not documented by formal gift agreement generally need to be documented in some other way. For gifts of less than $20,000, a signed letter of intent or SamaraCare gift/pledge form is generally sufficient documentation. SamaraCare will provide donors with a letter of intent template or gift/pledge form, as appropriate, in those cases. When adding to an existing fund, no specifications on how the money will be spent can be made.

In general, two original copies of the gift agreement will be prepared for signing: one for the donor’s records, and one for the SamaraCare’s records. The  organization will also accept electronic copies of fully executed gift agreements.

 Fees

SamaraCare will not accept a gift unless the donor is responsible for (1) the fees of independent legal counsel retained by donor for completing the gift; (2) appraisal fees; (3) environmental audits and title binders (in the case of real property); and (4) all other third- party fees associated with the transfer of the gift to the organization.

 Valuation of Gifts

SamaraCare shall 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 GAAP by the SamaraCare’s Finance Department.

 Appraisal and Legal Fees

It will be the responsibility of the donor to secure a qualified appraisal (where required) and independent legal counsel for all gifts made to the SamaraCare. The Chief Executive Officer shall promptly after request from the donor, complete and sign Part IV, Donee Acknowledgment, of IRS Form 8283 for donated property (except publicly traded securities) with a value over $5,000.

 IRS Filings upon Sale of Gifts:

To the extent applicable, SamaraCare shall file IRS Form 8282 upon the sale or disposition of any charitable deduction property sold within three (3) years of receipt by the Organization. “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 done organizations (e.g., the property listed in Section B on Form 8283). The Governing Body shall file this form within 125 days of the date of sale or disposition of the asset

V. Types of Gifts

Outright Gifts

An outright gift involves the donor’s voluntary and intentional transfer of money or assets to the organization, on a one-time or a periodic basis, without expectation of receiving a benefit related to the value of the transfer. SamaraCare may accept the following types of outright contributions:

Cash & Cash Equivalents

Gifts in the form of cash, checks, credit cards, wire transfers, ACH transactions will generally be accepted as long as they conform to all Gift Acceptance Policies. SamaraCare does not accept virtual currencies, including cryptocurrencies.

 Marketable Securities

SamaraCare will accept gifts of publicly traded stocks,  bonds and mutual fund shares at fair market values as determined under Internal Revenue Service rules. Marketable securities may be transferred electronically to an account maintained at a designated brokerage firm by SamaraCare. As a general rule, gifts of publicly traded securities will be sold immediately upon receipt, and the net proceeds will be credited from the sale after commissions and expenses. SamaraCare’s broker provides the value of the gift by using an average of the high and low trading price on the date the gift was transferred.

 Cryptocurrency

SamaraCare may accept gifts of cryptocurrency and other forms of digital or virtual assets after due diligence is performed to determine that the asset is able to be transferred and liquidated. SamaraCare will only accept Cryptocurrencies that are highly liquid and have a large enough market cap to be easily converted to cash, such as Bitcoin (BTH) and Ethereum (ETH). Other coin options may be considered.

In light of the highly volatile nature of Cryptocurrency, such gifts shall be converted to U.S. Dollars as quickly as administratively possible after the Cryptocurrency is donated. All gifts of Cryptocurrency are considered irrevocable and may not be refunded.

SamaraCare will not take custody of any gifted cryptocurrency. Instead, the donor will transfer the cryptocurrency to an intermediary corporation (the “Payment Processor”) that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, that will

1. take custody of the Cryptocurrency;
2. convert the cryptocurrency into U.S. Dollars;
3. distribute the conversion value in U.S. Dollars to SamaraCare; and
4. provide the donor with a Receipt. Receipts will not contain the value of the gift.

A charitable gift of cryptocurrency is only complete once the currency has been successfully paid to and accepted by SamaraCare’s designated Payment Processor.

Receipts will state the name and number of Cryptocurrency coins received, the date of receipt, and the fund or account benefiting from the gift.

Gift acknowledgement

Upon acceptance, SamaraCare will provide the donor with a gift acknowledgment that substantiates the receipt of the Cryptocurrency as a charitable gift. Similar to non-marketable securities, the acknowledgement may not contain a value of the gift.

Donor responsibilities and requirements

The donor is solely responsible for ensuring the gift is sent to the correct address. Any cryptocurrency sent to an incorrect address or any unsupported token may be lost.

The Internal Revenue Service treats Cryptocurrency as property. Therefore, Cryptocurrency gifts are subject to the same rules as non-cash charitable gifts. Cryptocurrency donations valued above $5,000 require a qualified third-party appraisal to substantiate the value for the donor to take a tax deduction, the cost of which shall be borne by the donor.

Cryptocurrency donations may not be made in a completely anonymous manner. All donors must identify themselves when making a gift in Cryptocurrency in order for the gift to be considered a charitable contribution. However, donors may request anonymity in publications and/or gift announcements.

Pledges

It may be advantageous for both SamaraCare and the donor, particularly during campaigns of specific durations, for SamaraCare to accept gifts pledged over time. Payment of the gift will be based on a schedule convenient to the donor during a timeframe of five years or less from the date of the original commitment. Multi-year pledged gifts must be a minimum of $5,000 (with annual payments of no less than $1,000). Pledge payments in the form of cash or securities will be accepted to fulfill the gift commitment. All pledged gifts must be documented. (See pledge form.) Corporate matching gifts cannot be applied as pledge payments to an individual’s personal pledge commitment.

Tangible Personal Property

Tangible personal property in excess of $5,000 in value may be accepted as a gift. Gifts of this type may include art, furniture, coins, stamps, and vehicles. The property must be saleable and the donor must agree that the property can be sold unless SamaraCare agrees to use the property for a purpose related to its exempt purposes.

Gifts of software and hardware that have value to SamaraCare may qualify as a charitable donation under the law, and with an established fair market value as documented by the donor. Maintenance agreements, service agreements or web-based subscriptions are contributed services and not goods, and are therefore not counted as gifts.

It is the responsibility of the donor to determine the value of a gift of personal property for tax purposes. For donors seeking to claim full fair market valuation on their gift, SamaraCare will verify and sign Internal Revenue Service (IRS) Form 8283 (for gifts with an FMV of $500 or more; a completed appraisal from a qualified outside appraiser is also required for gifts of $5,000 or more).

In assessing the appropriateness of the gift, the GAC should address the following questions:

• Is the property readily marketable?
• Are there any undue restrictions on the use, display, or sale of the property?
• Is the title of the property clear?
• Are there any carrying costs (insurance, storage, ongoing maintenance) for the property?
• Is the donor willing to finance the packing, shipping, insurance or other costs associated with transferring the gift to the organization?

Donor Advised Funds

Donor-advised funds (DAFs) are philanthropic vehicles established at public charities that allow donors to make charitable contributions, receive immediate tax benefits, and then recommend grants from the funds over time.

Gifts to the SamaraCare from DAFs are typically accepted in the form of checks or electronic fund transfers and processed accordingly.

No gift receipt will be issued to the individual who recommended a gift to SamaraCare from the DAF; however, acknowledgment of the gift, including the gift’s value, will be placed on the individual’s giving record.

 IRA Qualified Charitable Distribution (QCD)

The IRA QCD  (also known as an IRA Charitable Rollover) allows individuals age 70½ or older to make an outright,  tax-free gift of as much as $100,000 annually to SamaraCare from an IRA. Eligible IRAs include traditional, inherited, inactive Simplified Employee Pension (SEP) plan and inactive Savings Incentive Match Plan for Employees (SIMPLE) IRAs. (Inactive SEP and SIMPLE IRAs are accounts that no longer receive employer contributions.) An IRA QCD cannot be done from a 403B or 401K account. The gift is a direct transfer that never passes through the hands of the IRA holder. Instead, the IRA custodian can either send a check directly to SamaraCare or the account owner, who then hands it over to SamaraCare. SamaraCare has no minimum in accepting these gifts.

Donors do not receive a tax deduction for a QCD; the transfer is not, however, recognized as taxable income. SamaraCare will send an acknowledgment and statement that no goods or services were received in exchange for the gift to the IRA custodian. Separately, the donor will receive a letter of thanks that states the gift is an IRA QCD and confirms the designation. Donors will receive recognition gift credit for the full amount of the gift.

Real Property

SamaraCare will consider gifts of unencumbered real property with a market value of $100,000 or greater. Examples of real property include residential property, property held for investment, and commercial property.  We will not accept gifts of undeveloped real property (vacant land), agricultural or industrial property.  All gifts of real estate are to be approved by the GAC.

SamaraCare shall require, at the donor’s expense, an independent appraisal of the property’s fair market value, proof of title, as well as a Phase I environmental study to ensure that the property has no environmental damage or other environmental issues that would expose SamaraCare to liability. This appraisal will also serve the donor’s need to provide a valuation to the IRS. When appropriate, a title binder shall be obtained by SamaraCare prior to the acceptance of the real property gift. The cost of the title binder will be borne by the donor.

The following criteria applies to gifts of real estate:

• Is the property useful for the purposes of SamaraCare?
• Is the property marketable?
• Are there any restrictions, reservations, easements, or other limitations associated with the property?
• Are there carrying costs, which may include insurance, property

taxes, mortgages, or notes, etc., associated with the property?

• Does the audit reflect that the property is free of environmental damage?

The following steps will generally be taken to inform a written opinion regarding acceptance of the proposed real estate donation for use by the Gift Acceptance Committee in its review:

1. Obtain a copy of the current deed, any legal descriptions of the property, encumbrances, leases, and current tax bill.
2. Obtain a title report.
3. Inspect the property.
4. Consult with a real estate advisor as to marketability.
5. Obtain an independent, third-party qualified appraisal of the property.
6. Evaluate the costs of maintaining insurance on the property.
7. Copy of Property Insurance Policy.
8. Copy of Covenants, Conditions and Restrictions (CC&R) and Association agreements (if applicable).
9. Copy of Landowner Liability Insurance.
10. Consideration if the property is subject to debt.
11. Consideration if the property is subject to unrelated business income tax.
12. Evaluate the potential for any environmental liabilities. Consult with an environmental engineer or comparable advisor if necessary.

Employer-sponsored Matching Gifts

SamaraCare encourages donors to apply for any available matching gifts from a company or company funded foundation; however, because the donor has no control over matching gifts, matching gifts may not be included in a donor’s pledge commitment. Donors are entitled to income-tax deductions for their individual gifts only and not the matching portion.  Donors who question a matching gift decision are encouraged to consult with their company’s matching gift administrator.

Sponsorships

Corporations and organizations may support SamaraCare’s activities, events or programs in return for some type of recognition at an event or in publication materials related to the event. Most corporate sponsorship dollars are fully charitable; the determining factors are whether there was any exchange of goods or services, such as a meal,  and if recognition the corporation receives constitutes advertising under IRS regulations in effect at the time of the sponsorship. Simple name or logo placement for the sponsor is not considered advertising and allows the contribution to be fully charitable.

Planned Gifts

SamaraCare’s planned giving program encompasses gifts whose benefits do not fully accrue to the organization until some future time (such as the death of the donor or other income beneficiaries or the expiration of a predetermined period of time), or whose benefits to the organization are then followed by the interests of noncharitable beneficiaries. Planned giving opportunities offered by SamaraCare include the following:

 Beneficiary Designations

Beneficiary designations are the easiest way to transfer assets directly to SamaraCare outside of the probate process.  SamaraCare may be designated as a primary or contingent beneficiary. The most common beneficiary designations are:

• Payable on Death (POD) Accounts – SamaraCare can be named as a future primary or contingent beneficiary of a bank account, certificate of deposit or US Savings Bond by completing a signature card or similar form provided by the financial institution.
• Transfer on Death (TOD) Accounts – SamaraCare can be named as a future primary or contingent beneficiary of a non-retirement account such as stocks, bonds, and brokerage accounts by completing a form provided by a broker.

Bequests

SamaraCare may be designated as the beneficiary of a bequest or gift by the terms of the donor’s will or by a revocable or irrevocable trust. Sample bequest

language for restricted and unrestricted gifts will be made available to donors and their attorneys to ensure that the bequest is properly designated. Such bequests will not be recorded as gifts to SamaraCare until such time as the gift is received.

Life Insurance

Gifts of paid-up and premium-due life insurance will be accepted where SamaraCare is named as both beneficiary and irrevocable owner of the insurance policy. All life insurance gifts must be reviewed by the GAC.  The donor must agree to pay, before, due,  any future premium payments owing on the policy. SamaraCare will include the entire amount of the additional premium payment in the year the gift is made.

Retirement Plans

Retirement plans owned by the donor may be gifted to SamaraCare while living, or at death. These include Individual Retirement Accounts (IRA), 401(k), 403(b), and defined contribution plans. (Annuity plans, such as defined benefit plans, in which retirement benefits are paid out as income and principal does not accumulate, generally cannot be used for charitable gifts.) Methods for gifting retirement

assets include:

• Naming SamaraCare as primary, successor or contingent beneficiary for all or part of the assets upon death of either the retirement asset owner or spouse;
• Creating a testamentary charitable remainder trust with the assets upon the death of the asset owner, naming SamaraCare as remainder beneficiary and noncharitable heirs as income beneficiaries.

Charitable Remainder Trusts

Under a charitable remainder trust, the donor irrevocably transfers money, securities, or other property to a trustee selected by the donor. The trustee pays the donor (or one or more income beneficiaries designated by the donor) a fixed percentage of the net fair market value of the trust’s assets, as determined each

year. The payments are made for the life or lives of the income beneficiaries or for a fixed period of years not to exceed 20 years. Upon termination of the income beneficiary’s interest, the assets of the trust are transferred to SamaraCare.

SamaraCare may accept designation as a remainder beneficiary of a charitable remainder trust. SamaraCare will not serve as trustee of a charitable remainder trust.

Charitable Leads Trust

Under a charitable lead trust, the donor irrevocably transfers money, securities, or other property to a trustee selected by the donor. SamaraCare is given an income interest in the trust assets for a period of years or the lives of one or more

individuals, at the end of which time the assets of the trust are distributed to non-charitable beneficiaries designated by the donor. The trustee pays SamaraCare each year:

1. a fixed amount from the trust; or
2. a fixed percentage of the net fair market value of the trust’s

assets, as determined each year.

SamaraCare will not serve as trustee of a charitable leads trust.

1. In-Kind Gifts

SamaraCare may accept the following types of in-kind gifts:

1) Tangible Personal Property. Tangible personal property may be accepted as a gift-in-kind. SamaraCare will use the property for a purpose related to its exempt purposes, and will provide an acknowledgement with no value attached. The donor will be responsible for obtaining any qualified appraisal necessary to comply with IRS regulations for the property.

1. Gifts of Services

Charitable deductions for gifts of service are not permitted by the IRS, however, SamaraCare may acknowledge and thank the donor for such services without specifying a dollar amount or generating a receipt. For services that are 100% donated, a statement of fair value will be requested, which should include the value and type of service and benefitted program for internal recording purposes.

VI. Gift Receipting and Acknowledgement

SamaraCare  recognizes the paramount role of donors and their gifts to the organization in achieving its mission. SamaraCare shall provide written acknowledgement of all gifts made to the organization and comply with the current IRS requirements on acknowledgement of the gifts.

1. All gifts made to SamaraCare will receive an acknowledgment within two weeks of receipt of the gift, if possible.
2. IRS regulations require SamaraCare to issue a written receipt to every donor who makes a gift valued at $250 or more. The Development Department will provide donors a gift receipt that is prepared in accordance with applicable government requirements.
3. The Development Department must have, at a minimum, the following information to record a gift and issue a receipt:

• Name of the donor(s)
• Address of the donor(s)
• Date of the gift
• Amount of Gift
• Description of the gift property
• Statement of donor intent

1. SamaraCare uses the annual report and/or website as its primary donor recognition tools. All donors contributing $250 or more may be recognized in the annual report and/or website.
2. Donor anonymity requests will be honored.

VII. Confidentiality

All agreements with donors and all information concerning donors and prospective

donors shall be held in strict confidence by SamaraCare, subject to legally authorized and enforceable requests for information by governing agencies and courts. All other requests for or releases of information concerning a donor will be honored or allowed only if permission is obtained from the donor prior to the release of such information.

VIII. Conflict of Interest

SamararCare does not provide personal legal, financial or other professional advice to donors or prospective donors. Donors and prospective donors are strongly urged to seek the assistance of their own professional advisors in matters relating to their gifts and the

resulting tax and estate planning consequences.

VIII. Code of Ethics

SamaraCare is committed to ethical engagement. All solicitations on behalf of the organization will be in accordance with the standards in the Donor Bill of Rights, as created by the Association of Fundraising Professionals (AFP), the Association of Healthcare Philanthropy (AHP) , the Council for Advancement and Support of Education (CASE), and the Giving Institute: Leading Consultants to Non-Profits. A copy of the Donor Bill of Rights is available on the organization’s website.

X. Modifications and Deviations to the Policy

This Policy has been reviewed and accepted by SamaraCare’s Board of Directors, which has the sole power to modify this Policy, in consultation with the President/CEO and/or Executive Director. In addition, the Board of Directors must approve in writing any deviations from this Policy.