Gifts to GCF may take a variety of forms. Many are outright gifts by living donors. Some are bequests or testamentary gifts that take effect upon the donor’s death. Others are different forms of deferred or split-interest gifts.
General Gift Acceptance Policies
In keeping with its official gift acceptance policies, The Greater Cincinnati Foundation may accept the following types of contributions:
Cash. The Foundation may accept outright cash gifts in any amount. Gifts made to establish a named fund at GCF must meet the minimum funding requirements set by the Board (currently $5,000). A donor may establish a fund in a single transaction, or agree to build to $5,000 over a period of time mutually acceptable to the donor and the Foundation.
Publicly-Traded Securities. GCF may accept gifts of publicly-traded stocks and bonds at fair market values as determined under Internal Revenue Service rules. Gifts of publicly-traded securities will generally be sold as soon as possible, and the fund the donor established will be credited with the proceeds from the sale, after commissions and expenses, if any.
Tangible Personal Property. Tangible personal property may be accepted as a gift, provided that (i) such property is saleable and (ii) the donor agrees that the property can be sold at GCF’s discretion. The donor is responsible for obtaining a qualified appraisal prior to completing the gift.
Life Insurance Policies. The Foundation may accept gifts of life insurance policies, provided that GCF and the donor reach a prior written agreement about arrangements for the payment of any required premiums.
Real Property. All proposed gifts of real estate must satisfy the requirements of GCF’s separate Policy and Guidelines Relating to Gifts of Real Estate. Please see the bottom of this page for a link to the complete policy and related forms.
Closely-Held Stock and Partnership Interests. All proposed gifts of closely-held stock (including LLC stock) and partnership interests (including FLP interests) must satisfy the requirements of the Foundation’s separate Policies and Guidelines Relating to Gifts of Partnership Interests and Gifts of Closely-Held Stock. Please see the bottom of this page for a link to the full text of these policies.
The Foundation reserves the right to refuse any proposed gift. In conformity with Treasury Department regulations governing community foundations, gifts to GCF may not be directly or indirectly subjected by a donor to any material restriction or condition that would prevent the Foundation from freely and effectively employing the transferred assets, or the income derived therefrom, in furtherance of its exempt purposes. For more information about GCF’s Gift Acceptance Policies and Procedures, contact Amy L. Cheney, CPA, Vice President for Giving Strategies at (513) 241-2880.
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