In reviewing gifts to the church, the Director of Stewardship and Planned Giving will consider the following criteria:
• The charitable intent and ultimate benefit to the church’s mission
• The nature of any restrictions
• The permanence of the gift
• Projected costs of managing the gift asset
Acceptance by staff of gifts consistent with the purposes, canons and procedures of the church shall not require approval of the Vestry if gifts are in any of the following forms:
• Marketable securities
• Gifts of useable furniture and equipment for the offices and programs of the church (subject to guidelines established by the Vestry)
Gifts requiring review and approval by the Director of Stewardship and Planned Giving, in consultation with senior clergy, the Senior Warden or other committee determined by the Vestry, include the following:
- Gifts of tangible property: Gifts of artwork, antiques, jewelry, and other collectibles
- Gifts of real estate: Real estate gifts require the Standing Committee of the Diocese to provide its advice and consent to the Ecclesiastical Authority of the Diocese before a sale can take place. See “Guidelines for Transactions Requiring Standing Committee Approval” in the Episcopal Diocese of NC Standing Committee handbook. Donor will be required to provide a qualified appraisal and environmental assessment (at a minimum a Phase I) as well as a description of the property and such other inspections as requested. The Director of Stewardship and Planned Giving will review these documents as well as consider any liabilities, restrictions or other conditions related to the gift. These policies also will apply to any other asset that has real estate holdings as an element of its value. Any cost to the church associated with acceptance of the gift will be reimbursed from the proceeds.
- Interest in business entities (i.e., closely held stock, partnership and limited liability company interests): These will be evaluated by the Director of Stewardship and Planned Giving, taking into account valuation, long-term disposition, income production, potential liability and other issues deemed relevant. The Director of Stewardship and Planned Giving may consult with senior clergy and the Senior Warden before referring a decision to the Vestry if a particular gift presents unusual or difficult issues for consideration. An independent appraisal may be required before consideration of acceptance.
- Gifts of Remainder Interests in Real Estate or Life Estates: Can include a residence, farm, vacation home or undeveloped property. Diocesan approval is required (see “Gifts of real estate”).
Gifts requiring acceptance by review will be handled promptly. Church staff will deliver to the Director of Stewardship and Planned Giving all information necessary to share with senior clergy or the Senior Warden for a decision. St. Paul’s Episcopal Church has the authority to refuse acceptance of any gift offered. If a gift is not accepted, the prospective donor will be notified promptly in writing. All gift reviews will be handled with confidentiality.