The 501(c)(3) Progressive Multiplier Fund and the 501(c)(4) Progressive Multiplier Action Fund (or, in combination, referred to as the “Progressive Multiplier”) are funding intermediaries and best practice resource centers that possess a superior understanding of small donor fundraising and member benefit programs; that specialize in risk management for investing in such programs; and that execute a unique, compliant approach to generate both 501(c)(3) and 501(c)(4) resources.
To set forth standard operating procedure (SOP) for the acceptance of gifts received by the Progressive Multiplier.
This policy applies to all charitable gifts offered to the Progressive Multiplier by any organization or individual (formal or informal) and must be followed by all employees.
DEFINITIONS & ABBREVIATIONS
Gifts-In-Kind Non-cash donations as permitted by IRS law
Restricted Gifts Gifts for which the donor specifies use/or and purpose of the funds
Unrestricted Gifts Gifts for which the donor does not specify use and purpose of the funds
IRS Internal Revenue Service
The mission of the Progressive Multiplier is to raise capital, innovate creative financing products, invest in projects designed specifically to generate scalable revenue for a diverse, ever-expanding universe of non-profit organizations, and share best practices and lessons learned across the sector.
The Progressive Multiplier seeks to further its mission through the solicitation, acceptance, and administration of gifts of various kinds. In pursuing and facilitating such gifts, the Progressive Multiplier shall maximize the benefit to these organizations by acting in accordance with the policies established herein, and shall foster and steward relations so as to make the experience of donors and prospective donors as pleasant and rewarding as possible. Any exceptions to these policies must be approved by the Executive Director in consultation with the Chief Financial Officer and other appropriate officers of the Progressive Multiplier as needed.
All fundraising activities shall be conducted in a manner that does not conflict with any administrative policies, and that protects the interests of the Progressive Multiplier. Concurrently, the interests of each donor shall be protected, and the Progressive Multiplier shall not knowingly enter any arrangement which would jeopardize the donor’s interest or contradict the donor’s intent. Gifts shall be made directly to the organization (not to an individual staff member or board member) and shall be consistent with IRS rules and regulations governing charitable gifts. The Progressive Multiplier, in the management and reporting of gifts to the Progressive Multiplier, shall be guided by the standards of accounting and reporting established by the Financial Accounting Standards Board (FASB).
Types of Funding Accepted
The Progressive Multiplier accepts financial support from foundations, individuals, and corporate donors. All pledges, pledge payments and gifts in the form of cash, checks, credit cards, wire transfers and ACH transactions will generally be accepted as long as they conform to all Progressive Multiplier Gift Acceptance Policies. Gifts will be credited and receipted to the legal donor. Recognition credit can be provided as appropriate.
Checks are to be made out to either the Progressive Multiplier Fund or Progressive Multiplier Action Fund. In no event shall a check be made payable to an employee, agent or volunteer who represents the Progressive Multiplier.
In addition to cash, pledges and pledge payments, the following will also be recognized:
Matching Gifts: The Progressive Multiplier accepts gifts from companies which sponsor matching gift programs for their employees or former employees. Any matching gift received is used for the same purpose as the original gift unless limitations are imposed by the issuing company/foundation that prohibit an identical use.
Gifts in Kind: Gifts of tangible personal property (books, paintings, musical instruments, etc.) can be accepted if they further the mission of the Progressive Multiplier. The Gift Acceptance Committee may, at their discretion, choose to accept a gift of tangible personal property that is readily marketable for the purpose of liquidating the asset. Property for the use of the institution with an appraised or estimated fair market value of less than $5,000 may be accepted in consultation with the Director of Strategic Partnerships and Executive Director. Gifts of property valued at $5,000 of more must be approved by the Gift Acceptance Committee.
Gifts of services, while often considered helpful to the Progressive Multiplier’s mission, are not considered charitable gifts by the IRS and cannot be recorded or receipted by the Progressive Multiplier.
Donors interested in discussing a potential planned gift or gift in kind to the Progressive Multiplier, should contact the Development Department by email: [email protected], or mail: Progressive Multiplier, 714 G St SE, Suite 200, Washington, DC 20003.
For pledges of $50,000 or greater, the Progressive Multiplier strongly prefers a written Statement of Intent (or similar written documentation) signed by the donor, which includes a specific dollar amount, gift designation(s) and fixed time schedule. For pledges under $50,000, email documentation with the donor or some other non-signed documentation (like direct mail reply form or staff documentation of a conversation) is considered sufficient. Pledges are typically booked with payment schedules of up to five years.
The Progressive Multiplier reserves the right not to accept a proposed gift for reasons including, but not limited to, the following:
Gift Acknowledgement & Recognition
All gifts shall be recognized in an appropriate and timely manner in accordance with the Progressive Multiplier’s Donor Acknowledgement and Stewardship procedures.
Gift Acceptance Committee
A Gift Acceptance Committee serves in an ad hoc capacity to review proposed Gifts-In-Kind and other complex assets to the Progressive Multiplier. The Committee will represent the Progressive Multiplier’s interest in evaluating the gift for a use related to the organization’s mission. Gifts that fall under this committee’s review include tangible personal property, real property, life insurance, and other complex assets. The category “other complex assets” can include, but is not limited to, intellectual property, partnership interests, and restricted or non-publicly traded securities. The Committee comprises the Progressive Multiplier’s Director of Strategic Partnerships, Executive Director, and two Progressive Multiplier Board Members.
Confidentiality of Information
The Progressive Multiplier is committed to protecting the privacy of people whose personal information is held by the PMF and PMAF through responsible information management. This includes information on constituents (donors and potential donors) that is held by the Progressive Multiplier Development Department. Confidential information about Progressive Multiplier constituents as well as confidential communications in oral form or on electronic, magnetic, or print media is protected to foster a trusting relationship between the constituent and the institution. This policy applies to all employees, including part-time, temporary, contractual, paid and unpaid interns, and agents of the institution who assist in the Progressive Multiplier’s fund-raising outreach mission. Each person with access to confidential information is personally responsible for the protection of it.
RIGHTS OF DONORS
The Progressive Multiplier is guided by this amended version of the Donor Bill of Rights created by the Association of Fundraising Professionals, the Association for Healthcare Philanthropy, the Council for Advancement and Support of Education, and the Giving Institute:
Philanthropy is based on voluntary action for the common good. It is a tradition of giving and sharing that is primary to the quality of life. To assure that philanthropy merits the respect and trust of the public, and that donors and prospective donors can have full confidence in the organizations and causes they are asked to support, we declare that all donors have these rights:
Any exception to this Policy must be approved by the Progressive Multiplier Fund Board and Executive Director.
This Gift Acceptance Policy was reviewed and approved by the Board of Directors of the Progressive Multiplier Fund and Progressive Multiplier Action Fund, respectively, on November 18, 2019.