Donor Acceptance Policy
The following policies and guidelines govern acceptance of gifts made to Eastern Catskills CLT (ECCLT) or for the benefit of any of its projects.
Donor Intent: In general, ECCLT treats gifts as unrestricted in nature and available for all ECCLT projects and operations. A written agreement signed by ECCLT and the donor is required when a gift is restricted by the donor for a specific purpose or project.
Written agreements will also be required for multi-year pledges. In the case of a restricted gift, ECCLT will review the requested restrictions in advance of accepting the gift in order to determine its appropriateness and may ask the Donor to consider removing or modifying the restrictions.
ECCLT will not accept a gift for which it is incapable of honoring Donor intent. Once the gift is accepted the restrictions will always be observed. Gifts will be declined or returned when
The purpose is inappropriate or not conducive to the best interest of ECCLT,
There is a question as to whether the Donor has sufficient title to the assets or is legally competent to make the gift,
There is an expectation of quid pro quo services, or
The gift would obligate ECCLT to undertake responsibilities, financial or otherwise, which it may not be capable of meeting.
Cash Donations: Cash gifts may be made by check, wire transfer or ACH funds, or credit card. Gifts made by check are to be made out to Eastern Catskills CLT.
Wire transfer or ACH funds can be arranged by contacting ECCLT’s Development Department at: info@easterncatskillsclt.org.
ECCLT does not retain Donors’ credit card data.
Donors are strongly encouraged to make all credit card donations on-line via ECCLT’s website at: https://easterncatskillsclt.org
ECCLT also accepts gifts as direct transfers of Qualified Charitable Distributions from a Donor’s Individual Retirement Account (“IRA”) and as recommended grants from Donor Advised Funds (“DAF”).
Donors wishing to make a contribution via a direct transfer from an IRA should contact ECCLT’s Development Department at: info@easterncatskillsclt.org.
Donors may make grants from a DAF by designating the grant recipient as Eastern Catskills CLT, 8 Harder Road, Woodstock, NY 12498. If a Donor intends to utilize funds from a DAF for a pledge or multiple grants, then the Donor should sign a non-binding letter of intent stating as follows:
I/We intend to recommend a grant from the (name of Donor Advised Fund), in the amount of $________________ [during the year 20__/annually for the years 20__-20__].
Grant recommendations are subject to the approval of [name of sponsor of Donor Advised Fund]. This expression of intent does not create a legally enforceable obligation.
Other Donations Gifts of Securities: ECCLT will accept gifts of readily marketable securities. ECCLT does not accept gifts of securities that are not readily marketable, including securities subject to resale restrictions under the securities laws or otherwise, without the approval of the Board of Directors.
If you choose to send your gift by utilizing securities, please email our Development Department, at info@easterncatskillsclt.org for the instructions you need to make your stock donation.
Gifts of Real Estate: Gifts of real estate may include developed property, undeveloped property, or property subject to a prior life interest. All gifts of real estate must be approved by the ECCLT Board of Directors and may be subject to legal review, assessment of ability to obtain permits for development, environmental review, title review and insurance, independent appraisal and other relevant factors. ECCLT may ask the Donor to incur some or all of the costs associated with the donation of the property. ECCLT will have discretion to determine whether it will develop or resell the property.
Other Gifts-in-Kind: Gifts-in-kind (art objects, equipment, home fixtures and furnishings, etc.) may be accepted by ECCLT in its discretion if directly related to its mission or if the items are readily marketable, do not involve expense (such as for storage or insurance) disproportionate to the use or disposition of the gift or may be sold by ECCLT without restriction.
Gifts of Professional Services: ECCLT may accept donations of professional services gratis or at pro bono rates.
Tax Treatment of In-Kind Gifts: When gifts-in-kind are given to ECCLT with the intent of the Donor receiving a tax deduction, it shall be the responsibility of the Donor, not ECCLT, to secure an appraiser and obtain an appraisal of the gift for tax purposes. Donors should seek tax advice on the deductibility of gratis or pro bono professional services.
Responsibility for IRS Filings Upon Sale of Gifts Items: ECCLT is responsible for filing IRS Form 8282, (Donee Information Return (Sale, Exchange or Other Disposition of Donated Property)) upon the sale or disposition of any donated property (other than marketable securities) sold within 2 years of receipt by ECCLT when the charitable deduction value of the item is more than $5,000. Form 8282 must be filed within 125 days after ECCLT disposed of the donated property.
Social Impact Investing: ECCLT from time to time offers Donors the opportunity to participate in social impact investing to support specific ECCLT projects. Information on these programs can be found on ECCLT’s website at https://easterncatskillsclt.org/.
Testamentary and Planned Giving: A donor may name ECCLT as a recipient of a charitable bequest in his or her last will and testament. Planned Giving may also include, Life Insurance, Irrevocable or Revocable Trusts, Life Estates, Charitable Remainder Annuity and Unitrusts and Charitable Lead Trusts (each a “Planned Giving Plan”). The Executive Director will review all Planned Giving Plans and submit them to the Board of Directors for approval. Each prospective Donor entering into a Planned Giving Plan is urged to seek the advice of his or her independent legal counsel prior to entering into a Planned Giving Plan with ECCLT. It shall not be required that all Planned Giving Plans be accepted.
Solicitation, Acknowledgement and Donor Recognition Solicitation: ECCLT maintains its own in-house Development Department and will not compensate, whether through commissions, finders’ fees, or other means, any third party for directing a gift or a donor to ECCLT.
Acknowledgment: All gifts, regardless of value, form, or stipulations, shall be promptly acknowledged by ECCLT with a letter. ECCLT will observe IRS rules with respect to gifts of $250 or more.
Recognition: Gifts will be recognized within the policies established for specific campaigns, such as Supporters Circle, Sustainers Circle, Leadership Circle, naming opportunities, and others designated by ECCLT. ECCLT will respect a Donor’s wish to remain anonymous.
Confidentiality: ECCLT shall maintain confidentiality concerning all correspondence regarding contributions, gift records, and other data on Donors and prospective donors, and will ensure that this information is used on a need-to-know-basis only for the support of development for ECCLT. ECCLT will not sell, share, or trade Donors’ names or personal information with any other entity. ECCLT maintains a Written Information Security Policy covering Donor data in accordance with New York State law.