Sky’s the Limit Fund (STLF) encourages the solicitation and acceptance of gifts for purposes that will assist STLF to further and fulfill its mission. The following policies and guidelines govern acceptance of gifts made to STLF or for the benefit of any of its programs.
I. Purpose of Policies and Guidelines
The Board of Directors of Sky’s the Limit Fund, the Executive Director, and staff solicit current and deferred gifts from individuals, corporations, and foundations to secure the future growth and mission of STLF. It is the purpose of these Policies and Guidelines to govern the acceptance of gifts (including grants) by STLF and to provide guidance to prospective donors and their advisors when making gifts to STLF. The provisions of these Policies shall apply to all gifts received by STLF for any of its programs or services.
II. Restrictions on Gifts/Designation of Gifts
STLF will accept gifts, and gifts restricted for specific programs and purposes, provided that such gifts are not inconsistent with its stated mission, purposes, and priorities, and provided that such restricted gifts shall be subject to the applicable provisions of this Gift Acceptance Policy set forth in Section V below. STLF will not accept gifts that are too restrictive in purpose. Gifts that are too restrictive are those that violate the charitable trust of STLF, gifts that are accompanied by an improper economic benefit to the donor such as a gift that is conditioned on a commercial preference to the donor or affiliated company, or gifts that vest the donor with inappropriate control such as a gift that requires STLF to hire a specific person or take some other unacceptable action. All final decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Board of Directors.
III. Gift Vehicles
STLF will accept gifts through the following gift vehicles, subject to the applicable provisions of this Gift Acceptance Policy:
- Outright donations
- Testamentary bequests
- Charitable remainder trusts
- Charitable lead trusts
STLF does not offer the following gift vehicles:
- Charitable gift annuities
- Pooled income funds