Finish Line Ministries GIFT Policy

Finish Line Ministries International, a nonprofit organization headquartered in Columbus, Ohio, hereafter referred to as FLMI, encourages the solicitations and acceptance of gifts for purposes that will help further and fulfill its mission of making a Gospel Impact in the African nations of Malawi, Mozambique, and Zimbabwe.

Purpose of Policies and Procedures

  • The information in this document identifies the ways FLMI accepts gifts from donors (individual and corporate) and serves as a guideline for staff involved with accepting gifts and donors wishing to make gifts to FLMI.

  • FLMI may decline any gift or pledge that in any way compromises its reputation, that poses an undue risk, or that does not serve its mission.

Types of Gifts
The following gifts may be considered for acceptance by FLMI:

  • Monetary Gifts
    FLMI will accept gifts of checks, ACH, money orders, Venmo, PayPal, and payments via credit or debit card.

  • Tangible personal property, including in-kind gifts
    FLMI will accept tangible personal property gifts. The property must be saleable, and the donor must agree that the property can be sold unless FLMI agrees to use the property for a purpose related to the purpose of the organization. For property valued at $5,000 or greater, at least one qualified appraisal by an independent professional appraiser may be required and such appraisal must be shared with FLMI prior to any FLMI decision to accept such a gift of tangible personal property. In the case where an appraisal is required, it is the sole responsibility of the prospective donor to obtain and pay for appraisal services and to share the results of such appraisal with FLMI.

  • Securities
    FLMI will accept gifts of publicly traded securities, stocks and bonds. Marketable securities will be transferred to a brokerage account maintained at one or more brokerage firms. As a general rule, all marketable securities will be sold upon receipt unless otherwise directed by the Finance Committee of FLMI. In some cases, marketable securities may be restricted by applicable securities laws; in such instances the final determination on the acceptance of the restricted securities may be made by the FLMI Board of Directors.

  • Real estate
    FLMI will consider gifts of real estate with a market value of $50,000 or greater. Gifts of real estate may include developed or undeveloped property. FLMI review of gifts of real estate shall include, but not be limited to, legality, title, encumbrances, liens, mortgages, easements, restrictions, and environmental issues.

  • Bequests
    Donors and supporters of FLMI will be encouraged to make bequests to FLMI under their wills and trusts. Such bequests will not be recorded as gifts to FLMI until such time as the gift is irrevocable.

  • Retirement plan beneficiary designations
    Donors and supporters of FLMI will be encouraged to name FLMI as a beneficiary of their retirement plans. Such designations will not be recorded as gifts to FLMI until such time as the gift is irrevocable.

  • Life insurance beneficiary designations
    Donors and supporters of FLMI will be encouraged to name FLMI as a beneficiary or contingent beneficiary of their life insurance policies. Such designations will not be recorded as gifts to FLMI until such time as the gift is irrevocable.

  • Charitable remainder trusts
    FLMI encourages its donors to name the organization as a remainder beneficiary of a charitable remainder trust and will work with its donors to structure such agreements. However, FLMI will not serve as trustee of a charitable remainder trust and will instead encourage the donor to use a professional fiduciary.

  • Revocable trust agreements
    FLMI encourages its donors to name the organization as a beneficiary of all or a portion of a revocable trust agreement. However, FLMI will not serve as trustee of a revocable trust agreement and will instead encourage the donor to use a professional fiduciary.

  • Charitable lead trusts
    FLMI may accept a designation as income beneficiary of a charitable lead trust. FLMI will not accept an appointment as Trustee of a charitable lead trust.

Valuation of Gifts

  • FLMI will record gifts received at their valuation on the date of gift, except that, when a gift is irrevocable, but is not due until a future date, the gift may be recorded at the time the gift becomes irrevocable.

Communications with Donors

  • FLMI holds all communications with donors and information concerning donors and prospective donors in strict confidence, subject to legally authorized and enforceable requests for information by government agencies and courts. All other requests for or releases of information concerning a donor, or a prospective donor will be granted only if permission is first obtained from the donor. Donor anonymity requests will be honored.

  • Written tax receipts will be issued for all donations.

  • At the beginning of each calendar year FLMI will provide each donor who has contributed over the course of the prior year, with written documentation of all tax- deductible gifts received during the prior calendar year.

  • All gifts must be received by December 31st of the current year to be included in the year’s giving statements. FLMI recommends submitting electronic ACH gifts by December 24th, completing credit card contributions by December 30th, and mailing physical checks well in advance to ensure they reach our office by December 31st.

Written Acknowledgement

  • FLMI will provide acknowledgment of all gifts made to FLMI in compliance with the current IRS requirements for acknowledgment of such gifts.

Use of Legal Counsel

  • FLMI may seek the advice of outside legal counsel as appropriate on matters relating to acceptance of gifts.

Conflict of Interest

  • FLMI does not provide personal legal, financial, or other professional advice to donors or prospective donors. Donors and prospective donors are strongly urged to seek the assistance of their own professional advisors in matters relating to their gifts and the resulting tax and estate planning consequences. It will be the responsibility of the donor to secure the advice of independent legal, financial, or other professional advisers as needed for all gifts made to FLMI.  

Repurposed Donations

  • Any donations received over and above a fully funded project will be put into the general fund for operating expenses or will be used towards another project at the sole discretion of the FLMI staff and/or the Board of Directors.