Gift Acceptance Policy

MISSION:  The Mission of the Montana Oral Health Foundation is to support initiatives and programs that promote, provide or improve oral health for all Montanans.

PURPOSE:  This policy serves as a guideline for the Montana Oral Health Foundation (hereafter referred to as MOHF) board members, MDA executive director, MDA members and prospective donors who actively solicit gifts for or wish to make a gift to MOHF to promote the mission of the Foundation. 

GUIDELINES: 

  1. The President of MOHF, MOHF Board Members, MDA members and staff have the authority to solicit gifts on behalf of MOHF.
  2. A Gift Review Committee shall be established and charged with the responsibility of reviewing gifts other than cash made to MOHF, properly screening and accepting those gifts, and making recommendations to the board on gift acceptance issues when appropriate. The committee shall consist of the MOHF Board President, the MDA Executive Director, the MOHF Treasurer and one additional Board member to be appointed by the Board. Electronic meetings (teleconference, e-mail) will be an acceptable form of communication for this committee.
  3. The advice of legal counsel may be sought by the committee in matters relating to acceptance of gifts when appropriate.


TYPES OF GIFTS:

OUTRIGHT GIFTS:

  1. Cash: Cash gifts are acceptable.  Checks shall be made payable to the MOHF and delivered to the Montana Dental Association.  In no event shall a check be made payable to an individual who represents MOHF, the MDA, or MDA staff.
  2. Publicly Traded Securities:
  3. MOHF can accept readily marketable securities, such as those traded on a stock exchange.
  4. Gift Securities are likely to be sold immediately by MOHF.
  5. In some cases, marketable securities may be restricted by applicable securities laws. In such instances, the final determination on acceptance of the gift will be made by the gift acceptance committee.
  6. Life Insurance:
    1. MOHF will accept gifts of life insurance policies only when MOHF is named as the owner and beneficiary of 100% of the policy.
    2. If the policy is paid-up, the value of the gift for MOHF’s gift crediting and accounting purposes is the policy’s replacement cost.
    3. If the policy is partially paid up, the value of the gift for MOHF’s gift crediting and accounting purposes is the policy’s cash surrender value.
  7. Real Estate or tangible personal property
    1. Careful consideration by the Gift Review Committee must be given to these gifts to be certain that liabilities are not greater than the property value.

QUALIFIED PLANNED GIFTS (Annuities and Trusts):    These gifts require considerable record keeping and will be handled by the Montana Community Foundation for MOHF.   These gifts include:

  1. Charitable Remainder Unitrust
  2. Charitable Remainder Annuity Trust
  3. Pooled Income Fund Trust
  4. Charitable Gift Annuity
  5. Charitable Lead Annuity Trust
  6. Deferred Charitable Gift Annuity
  7. Charitable Lead Unitrust

ADMINISTRATIVE ISSUES:

  1. MOHF or MDA staff shall not act as executor (personal representative) for a donor’s estate.
  2. Terms and Conditions must be agreed upon by the donor and MOHF gift acceptance committee before an endowment is established.
  3. For restricted and endowed funds, if future circumstances change, or the purpose for which the fund is established becomes illegal or impractical, the MOHF Board may designate an alternative use in the spirit of the donor’s original intent for the gift to further the mission of MOHF.
  4. This policy should be reviewed annually by the MOHF Board and revised when indicated by the MOHF Board.

This policy was reviewed and adopted by the MOHF Board of Directors on October 25, 2017

Members of the Board that approved this policy consisted of:

MOHF President – Dr. John Smith

MOHF Vice President – Dr. Dave Bull

MOHF Secretary – David Hemion

MOHF Treasurer – John Cech

Board Members: Dr. Kevin Miltko, Dr. Chris Hirt, Dr. David Keim, Dr. Shannon Jones and Ed Moore.

 

Signed:
John Smith, MOHF President ____________________   Date___________________
David Hemion, MOHF Secretary _______________________  Date________________