NYC FIRST Gift Acceptance Policy

NYC FIRST solicits and gratefully accepts gifts, including in-kind donations, that help NYC FIRST further and fulfill its mission.  Before acceptance, all gifts are subject to review. 

‍

1.
‍All donors are encouraged to seek the advice of their financial advisor, tax advisor and/or attorney when planning or making a gift of consequence to NYC FIRST.

1. It is the donor’s responsibility to ensure compliance with all IRS rules governing charitable gifts.
   

‍

2.
‍All gifts are subject to review by NYC FIRST Senior Management, including the following:

2. In-kind donations
3. Cryptocurrencies
4. Bequests and Beneficiary Designations under Trusts, Life Insurance Policies, Annuities, or Retirement Plans
5. Real estate, Tangible Personal and other types of Property
   

‍

3.
‍NYC FIRST may seek the assistance of legal counsel regarding the acceptance of the following gifts:

3. Closely held stock transfers that are subject to restrictions or buy-sell agreements
4. Documents naming NYC FIRST as Trustee
5. Gifts involving contracts, such as bargain sales or other documents requiring NYC FIRST to assume an obligation
6. Transactions with potential conflict of interest that may invoke IRS sanctions or States’ regulations
7. Other instances in which use of counsel is deemed appropriate by NYC FIRST Senior Management

‍

4.
NYC FIRST will not accept the following:  

4. Gifts that are outside of the NYC FIRST mission or charter
5. Gifts that would result in NYC FIRST losing its tax-exempt status or other negative consequence
6. Gifts that discourage other donors or future gifts
7. Gifts of or related to gambling, alcohol or tobacco

‍

5.
NYC FIRST reserves the right to deduct and retain a reasonable percentage of gift proceeds to offset administrative and processing costs.

‍

6.
‍NYC FIRST reserves the right to refuse or return gifts of any kind that are determined by NYC FIRST to be antithetical to our mission.

‍

‍