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Kare Youth League’s Gift Acceptance Policy

Kare Youth League solicits and accepts gifts for purposes that will help the organization further and fulfill its mission. Kare Youth League urges all prospective donors to seek the assistance of personal legal and financial advisors in matters relating to their gifts, including the resulting tax and estate planning consequences. The following policies and guidelines govern acceptance of gifts made to Kare Youth League for the benefit of any of its operations, programs or services.

Use of Legal Counsel—Kare Youth League will seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate. Review by counsel is recommended for:

  • Gifts of securities that are subject to restrictions or buy-sell agreements.
  • Documents naming Kare Youth League as trustee or requiring Kare Youth League to act in any fiduciary capacity.
  • Gifts requiring Kare Youth League 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.

Restrictions on Gifts—Kare Youth League will not accept gifts that (a) would result in Kare Youth League violating its corporate charter, (b) would result in Kare Youth League losing its status as an IRS 501(c)(3) not-for-profit organization, (c) are too difficult or too expensive to administer in relation to their value, (d) would result in any unacceptable consequences for Kare Youth League, or (e) are for purposes outside Kare Youth League’s mission. Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Board Investment Committee, in consultation with the Executive Director.

Gifts Generally Accepted Without Review

  • Cash. Cash gifts are acceptable in any form, including by check, money order, credit card, wire transfer, or on-line.
  • Marketable Securities. Marketable securities may be transferred electronically to an account maintained at the League’s brokerage firm or delivered physically with the transferor’s endorsement attached. All marketable securities will be sold promptly upon receipt unless otherwise directed by Kare Youth League’s Investment Committee. In some cases, marketable securities may be restricted, for example, by applicable securities laws or the terms of the proposed gift; in such instances the decision whether to accept the restricted securities shall be made by the Board Investment Committee.

Gifts Accepted Subject to Prior Review—Certain forms of gifts or donated properties may be subject to review prior to acceptance. Examples of gifts subject to prior review include, but are not limited to:

  • Charitable Remainder Trusts. Kare Youth League will accept designation as a remainder beneficiary of charitable remainder trusts (CRT). Until such a time that Kare Youth League can serve as the trustee for CRTs on its own, staff is authorized to partner with third party charitable organizations such as the California Community Foundation to establish CRTs for the benefit of Kare Youth League.
  • Charitable Lead Trusts. Kare Youth League will accept designation as an income beneficiary of charitable lead trusts (CLT). Until such a time that Kare Youth League can serve as the trustee for CLTs on its own, staff is authorized to partner with third party charitable organizations such as the Jewish Community Foundation of Los Angeles to establish CRTs for the benefit of Kare Youth League.
  • Charitable Gift Annuities (CGA). Until such a time that Kare Youth League is able and willing to issue charitable gift annuities (CGA), staff is authorized to partner with third party charitable organizations such as the Pasadena Community Foundation to establish CGAs for the benefit of Kare Youth League.
  • Bequests and Beneficiary Designations under Revocable Trusts, Commercial Annuities and Retirement Plans. Donors are encouraged to make bequests to Kare Youth League under their wills, and to name Kare Youth League as the beneficiary under trusts, commercial annuities and retirement plans.
  • Tangible Personal Property. The Board Investment Committee shall review and determine whether to accept any gifts of tangible personal property in light of the following considerations: Does the property further the organization’s mission? Is the property marketable? Are there any unacceptable restrictions imposed on the property? Are there any carrying costs for the property for which the organization may be responsible? Is the title/provenance of the property clear?
  • Life Insurance. Kare Youth League will accept gifts of life insurance where Kare Youth League is named as both beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay, before due, any future premium payments owing on the policy.
  • Real Estate. All gifts of real estate are subject to review by the Board Investment Committee. Prior to acceptance of any gift of real estate other than a personal residence, Kare Youth League shall require an initial environmental review by a qualified environmental firm. In the event that the review reveals a potential problem, the organization may retain a qualified environmental firm to conduct an environmental audit. Criteria for acceptance of gifts of real estate include: Is the property useful for the organization’s purposes? Is the property readily marketable? Are there covenants, conditions, restrictions, reservations, easements, encumbrances or other limitations associated with the property? Are there carrying costs (including insurance, property taxes, mortgages, notes, or the like) or maintenance expenses associated with the property? Does the environmental review or audit reflect that the property is damaged or otherwise requires remediation? Until such a time that Kare Youth League possess the capacity, expertise and internal controls to appropriately conduct a full due diligence process and effectively market contributed real estate on its own, staff is authorized to partner with third party charitable organizations such as the California Community Foundation to facilitate charitable gifts of real estate for the benefit of Kare Youth League.

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Dan Kirby

Dan Kirby

Director
Kare Youth League Planned Giving
(626) 201-0063
Email: plannedgiving@kyl.org

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Kare Youth League • PO Box 662080, Arcadia, CA 91066-2080
Kare Youth League is a 501(c)(3) tax-exempt organization (EIN: 95-1869644), and your donation is tax-deductible within the guidelines of U.S. law.