CornerHouse Gift Acceptance Policy 

 Purpose 

CornerHouse encourages the solicitation and acceptance of philanthropic gifts to advance our mission of supporting children, families, and communities impacted by abuse. Contributions from individuals, foundations, corporations, and other entities ensure our financial sustainability and enhance our capacity to serve. 

 This policy provides comprehensive guidance for the acceptance of gifts to CornerHouse, ensuring consistency, transparency, and ethical stewardship. It applies to all gifts received for any program, initiative, or service. All gift considerations are guided by the mission, values, and strategic priorities of CornerHouse. 

General Gift Guidelines 

CornerHouse accepts contributions that: 

  • Align with our mission, values, and priorities. 

  • Do not compromise CornerHouse’s independence or integrity. 

  • Do not create an undue financial, legal, or administrative burden. 

  • Meet all legal and ethical standards. 

CornerHouse reserves the right to decline any gift that: 

  • Is inconsistent with our mission or values. 

  • Creates excessive restrictions or risk. 

  • Cannot be effectively managed or utilized. 

Acceptable Gift Types  

1. Cash Gifts 

Cash gifts are recorded on the date received and acknowledged per IRS guidelines. Unrestricted gifts are preferred, but restricted gifts are considered if aligned with mission and capacity.  

2. Publicly Traded Securities 

Gifts of marketable securities are accepted and liquidated upon receipt to minimize risk. 

Includes: 

  • Stocks 

  • Bonds 

  • Mutual funds 

Guidelines: 

  • Transferred directly to CornerHouse’s brokerage account. 

  • Valued based on average of high/low trading price on the date of receipt. 

  • Donor receives tax acknowledgment for full market value; CornerHouse receives proceeds from the sale.  

3. Real Estate & Tangible Property 

Real estate gifts (land, homes, commercial buildings) and other property (vehicles, artwork, collectibles) are accepted only after due diligence. 

Due Diligence Includes: 

  • Independent appraisal 

  • Environmental assessments  

  • Title search and deed review. 

  • Evaluation of use or marketability. 

  • Liability and maintenance analysis. 

Real estate is typically sold unless the property meets a strategic need.  

4. In-Kind Donations 

Guidelines: 

  • Must meet current organizational needs as determined by a CornerHouse Manager or Director. 

  • Must be in new condition. 

  • Donors are responsible for determining and documenting value for tax purposes. 

  • CornerHouse will provide an acknowledgment, but not a value.  

5. Planned Gifts 

Deferred gifts made as part of the donor’s estate or financial planning. 

Types: 

  • Bequests: A gift through a will or living trust. 

  • Life Insurance: Naming CornerHouse as beneficiary or assigning ownership. 

  • Retirement Plans: Beneficiary designations from IRAs or 401(k)s. 

  • Charitable Trusts: Remainder or lead trusts that provide income and future benefit. 

CornerHouse encourages donors to notify staff of their intent so the gift can be recognized and properly documented.  

6. Restricted Gifts 

Gifts designated for a specific use, program, or purpose. 

Guidelines: 

  • Restrictions must be consistent with the mission and operational capabilities. 

  • Must not require new programs or services outside current scope unless approved by the CornerHouse Chief Executive Officer. 

  • If a restricted purpose is no longer feasible, CornerHouse will seek to repurpose funds per donor intent or applicable law, notifying the donor for permission of such intention.  

Unacceptable Gift Types 

1. Cryptocurrency 
Due to volatility, regulatory concerns, and administrative burden, CornerHouse does not accept digital assets such as Bitcoin, Ethereum, or similar cryptocurrencies at this time. 

2. Non-Marketable Securities or Interests 
Including closely held stock, partnership interests, or intellectual property, unless approved by the CornerHouse Gift Acceptance Committee following full review. 

3. Conditional Gifts 
Any gift contingent upon specific actions or outcomes not within CornerHouse’s control may be declined.  

Legal & Ethical Considerations 

A. CornerHouse does not provide tax, legal, or financial advice. Donors are strongly encouraged to consult independent professional advisors before making a gift. 

B. CornerHouse should consult legal counsel for: 

  • Gifts naming CornerHouse as a trustee or fiduciary. 

  • Contracts or documents that involve financial or legal obligations. 

  • Transactions presenting conflicts of interest or potential IRS sanctions. 

  • Any complex gift requiring legal interpretation.  

Declining Gifts 

Gifts may be declined if they: 

  1. Require resources that are unavailable, inadequate, or would divert support from essential operations. 

  1. Support a program or purpose outside the strategic focus or mission of CornerHouse, or create obligations that compromise sustainability. 

  1. Could damage CornerHouse’s reputation or create substantial controversy that disrupts mission delivery. 

  1. Violate federal, state, or local laws, or ethical standards of practice.  

Gift Acceptance Committee 

Purpose 

The Gift Acceptance Committee (GAC) reviews and approves complex, non-cash (other than in-kind), or high-risk gifts to ensure they align with CornerHouse’s mission and risk tolerance. 

Membership 

  • President of the Board of Directors 

  • Chair of the Philanthropy Committee 

  • Chief Executive Officer 

  • Finance Director 

  • Development Director 

Responsibilities 

  • Annual review of this policy. 

  • Review of proposed real estate, planned gifts, or restricted gifts requiring special conditions. 

  • Evaluation of legal, financial, or reputational risks. 

  • Determination of when outside counsel or independent valuation is necessary.  

Routine Gift Acceptance 

The Development and Finance teams may accept routine gifts such as: 

  • Cash and check donations 

  • Publicly traded securities 

  • Unrestricted or standard in-kind donations 

More complex or conditional gifts are referred to the Gift Acceptance Committee for review.  

Valuation & Acknowledgment 

  • Donors are responsible for determining the fair market value of non-cash gifts for tax purposes. 

  • CornerHouse issues acknowledgment letters per IRS requirements. 

  • Gifts are recorded using Generally Accepted Accounting Principles (GAAP) and included in appropriate donor and financial reports.  

Policy Review & Updates 

This policy is reviewed annually by the Gift Acceptance Committee, and any updates must be approved by the Board of Directors.