Impression 5 Science Center Gift Acceptance Policy
Impression 5 Science Center is a federally recognized, not-for-profit 501(c)(3) organization. The Science Center’s ability to fulfill their mission and serve their community is defined by the financial resources available. The Board of Directors and staff of Impression 5 Science Center are grateful for the many supporters who have made the work we do possible.
Impression 5 Science Center solicits and accepts gifts for purposes that further and fulfill its mission.
Our mission is to facilitate learners in scientific exploration through hands-on exhibits and participatory educational programming.
The below policies are in place to protect the interests of Impression 5 Science Center and the persons and other entities that support the Science Center, and to assure that all gifts made to the Science Center are structured to benefit both the Donor and the Science Center. Acceptance of any contribution, gift, or grant is at the sole discretion of Impression 5 Science Center.
The Science Center urges prospective Donors to seek the assistance of personal legal and financial advisors in matters relating to their gifts, including the resulting tax and estate planning consequences.
The following policies and guidelines govern acceptance of gifts made to Impression 5 Science Center for the benefit of any of its operations, programs or services.
Loyalty to Mission
Impression 5 Science Center seeks outright gifts and future gift commitments that are consistent with its mission. Donations generally will be accepted from individuals, partnerships, corporations, organizations, government agencies or other entities without limitations, provided that such donation is consistent with the Science Center’s beliefs, values and mission. The Science Center will not accept gifts, from any source, that are inconsistent with the Science Center’s beliefs, values and mission.
Restrictions on Gifts
Impression 5 Science Center will not accept gifts that:
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Would result in the Science Center violating its bylaws
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Would jeopardize the Science Center’s status as a 501(c)(3) not-for-profit organization
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Are too difficult or too expensive to administer in relation to their value
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Would result in any unacceptable consequences for the Science Center
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Are for purposes outside the mission of the Science Center.
Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by Impression 5 Science Center’s Executive Leadership, in its sole discretion.
Gifts Generally Accepted Without Review
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Cash: Unrestricted gifts of cash are accepted in most forms. All checks must be payable to Impression 5 Science Center and in no event be made payable to an employee, agent or volunteer for the credit of the Science Center.
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Bequests and beneficiary designations under revocable trusts, life insurance policies, commercial annuities, charitable remainder trusts, charitable lead trusts and retirement plans.
Gifts Accepted Subject to Prior Review
Certain forms of gifts or donated properties may be subject to review prior to acceptance. Examples of gifts subject to prior review include, but are not limited to, tangible personal property, Marketable Securities, non-liquid securities, in-kind gifts and real estate. Impression 5 Science Center will seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate.
The Science Center will provide acknowledgements to donors, meeting IRS substantiation requirements for property received by the charity as a gift. However, except for gifts of cash and publicly traded securities, no value shall be ascribed to any receipt or other form of substantiation of a gift received.
Respect for our Donors
Impression 5 Science Center will respect the intent of the donor relating to gifts for restricted purposes and those relating to the desire to remain anonymous. With respect to anonymous gifts, the Science Center will restrict information about the Donor to only those staff members with a need to know, as determined by the Science Center.
Our interactions are guided by the Donor’s Bill of Rights.
Learn about our Donor Privacy Policy here.
Avoidance of Conflict of Interest
Where conflict of interest – actual, potential, or perceived – arises, the duty of loyalty to Impression 5 Science Center and its mission must always be honored. The Board of Directors and staff must ensure that no individual benefits at the expense of Impression 5 Science Center’s mission, reputation, or the community it serves.
Further, Impression 5 Science Center shall 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 all matters relating to their gifts and the resulting tax and estate planning consequences.
Contingency
If at any time the Donor’s actions or their name may compromise the public trust or the reputation of the Science Center or conflict with their mission, the Science Center with the approval of the Board of Directors, has the right to remove the Donor’s name or return the gift.
Content Control and Integrity
Impression 5 Science Center recognizes and encourages collaborations with a variety of stakeholders including national, regional, and local funders and cultural organizations. Impression 5 Science Center will carefully examine and control the content and integrity of its programs, exhibitions, and activities.
Changes to Gift Acceptance Policy
This policy has been reviewed and accepted by the Impression 5 Board of Directors Executive Committee. The Executive Leadership shall periodically review the policy to ensure that it continues to accurately describe the policies of Impression 5 Science Center with respect to acceptance of charitable gifts. This Gift Acceptance Policy was approved by the Impression 5 Science Center Board of Directors on April 19, 2022.
