BLC Foundation Gift Acceptance Policy

Type of acceptable gifts

Direct Gifts

Individuals, couples, or families may make contributions of cash, marketable securities, life insurance policies and/or proceeds, bequests, and beneficiary designations.

Third Party Gifts

Some gifts for the benefit of the BLCF require the engagement of a third-party administrative partner, including charitable gift annuities, charitable trusts, donor advised funds and some Qualified Charitable Distributions from an IRA.

Gifts That Require Review

Some non-cash gifts may require specific review for marketability. The BLCF may create a subcommittee to perform the necessary due diligence prior to acceptance of such gifts.

Securities in closely held corporations or otherwise privately held securities will be accepted only upon approval of the BLCF or a person(s) authorized to act upon behalf of the BLCF, acting with qualified legal and financial advice. No formal or informal prearranged sale (e.g. repurchase by company) may be in place before acceptance of the gift. The BLCF must have full discretion to decide whether and/or when to sell.

Purpose

The purpose of this policy is to articulate the policies of the Bethlehem Lutheran Church Foundation (hereafter “the BLCF”) concerning the acceptance of charitable gifts to BLCF. This document will describe the types of gifts that will be accepted and the manner in which they can be given and includes both current and deferred contribution options as well as cash and non-cash alternatives.

Confirming that certain gift proposals may be complex and decisions will be made only after careful consideration of all the related factors, an ad hoc Gift Acceptance Committee (hereafter “the committee”) may be convened by the Executive Committee of the BLCF to monitor a specific situation.

Gifts without and
with restriction

Unrestricted Gifts

To provide the BLCF with maximum flexibility in the pursuit of its mission, most gifts made to the BLCF are considered unrestricted gifts. These gifts come in many forms from cash and checks, estate gifts, donor advised funds, stocks/marketable securities, retirement plans, etc.

Donor Restricted Gifts

The BLCF may accept gifts that are restricted by the donor if the gifts are designated for an established program, project or initiative that is supported by the mission of the BLCF. Such Donor Restricted funds, as they are called, should be presented, discussed, and negotiated with the BLCF prior to making the financial gift intended to create the fund. 

When a Donor Restricted Fund is created, there will be a provision for the dissolution of the fund if certain criteria or conditions are no longer relevant and the remaining balance would be used as the BLCF determines.

A donor restricted proposal may be declined at the discretion of the BLCF.

responsibility to donors

General

The BLCF, its board of directors and its representatives, shall endeavor to assist donors in accomplishing their philanthropic objectives in providing support to the BLCF.

Confidentiality

Information concerning all transactions between a donor and the BLCF shall be held by the BLCF in strict confidence and may be publicly disclosed only with the permission of the donor.

Ways to make a gift/donation

This section has expanded definitions in the full policy document. Only the section titles of acceptable items are listed here.

  • Marketable Securities

  • Life Insurance Policy

  • Retirement Plan Assets

  • Charitable Gift Annuities

  • Charitable Remainder Trusts

  • Planned (Deferred) Gifts

For more information about the possibility of make a donation via Oil, Gas and Mineral Rights, S-Corporation Shares, and Real Property, please contact us.

Contact Us

If there are questions about this gift acceptance policy or if would like to have a copy of the entire policy,

Call us: 612.208.6447

Email us: office@blcfoundationmn.org

Mail a note to: 

BLC Foundation
ATTN: Business Manager
4100 Lyndale Avenue South
Minneapolis MN 55409