GIFTACCEPTANCEPOLICY

Thispolicystatementisdesignedtoensurethatallgiftsto,orfortheuseof,LansingChristianSchoolFoundation
arestructuredtoprovidemaximumbenefitsforboththedonorandtheLCSFoundation.Donorsareadvisedtoseek
theirownlegalcounseltoassistthemintheprocessofmakingtheirgift.

TheLCSFoundationacceptsmanytypesofgiftsincludingcash,securities,realestate,insurance,realproperty,tangible
personalpropertyandevenentirecorporations.Becauseoftheuniquenatureofsomeassets,theFoundationreserves
therighttoacceptorrefuseagift.

ManytypesofassetsmaybeusedtoprovidegiftsfortheSchoolthroughtheLCSFoundation.Avarietyofgiving
methodsallowdonorstochoosethemostappropriatefortheircircumstancesandinterests.

TYPESOFGIFTS

OutrightGifts
OutrightgiftsarethoseplacedwiththeFoundationfortheimmediatedisposalbytheSchool,andinwhichthedonor
retainsnointerest.Theymaybeeitherrestrictedorunrestrictedinpurpose.

CashGifts
ThemostfrequentmethodtomakeagifttotheFoundationforLCSisacheck.Checksshouldbemadepayabletothe
LansingChristianSchoolFoundationandmailedordeliveredto:

LCSFoundation
3405BelleChaseWay
Lansing,MI48911

Pledges
Pledgesarecommitmentstogiveaspecificdollaramountaccordingtoafixedtimeschedule.Pledgesmusthavewritten
documentationthatcontainsthefollowing:
Theamountofthepledgemustbeclearlyspecified
Thereshouldbeaclearlydefinedpaymentschedule
Thereshallbenocontingenciesorconditions
Thedonormustbeconsideredfinanciallycapableofmakingthegift
Theacknowledgementassociatedwiththepledgeshallberemovedifforanyreasonthepledgeisnot
completedwithintheagreeduponpaymentscheduleorinanewpaymentscheduleisnotdetermined.

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Pledgerecordingpolicies
Anticipatedmatchinggiftswillnotbeincludedinpledgeamounts
Pledgesandexpectedmatchinggiftswillqualifyseparatelyfordonorrecognitioninappropriategivinglevel
groups.
Forgiftrecognitionpurposes,donorswillnotberecognizedpubliclyuntilthepledgeispaidinfull.
Intheeventofdeath,pledgebalanceswillbewrittenoffunlessthereareprovisionsinthedonorswillorthe
familyhasindicatedintenttocompletethepledge.
AllrequeststodeactivateapledgemustbepresentedtotheFoundationdirector.

EndowmentFunds
TheFoundationmayapprovetheestablishmentofaspecialpurposeendowmentfunduponreceiptofgiftsor
commitmentsthatmeettheapprovedfundinglevelsandcriteriaestablishedfortheendowment.Thereareseveral
typesofendowments.

ScholarshipsAnendowedscholarshipmaybeestablishedwithaminimumendowmentof$25,000.

OthersTheFoundationwillworkwithprospectivedonorsonthetermsandconditionsofotherendowment
fundsprovidedtheysupporttraditionalacademicactivitiesorfunctions.Anendowmentmaybeestablished
withaminimumcommitmentof$25,000.Inallcases,theestablishmentofanyendowmentfundrequiresthe
approvaloftheFoundationpresident.TheFoundationpresidentmustapproveanyexceptionstotheabove
guidelines.

Becauseconditionschangeovertime,allendowmentinstrumentscontainthefollowingcontingencyclause:

Ifcircumstancesshouldariseinthefuturethatmakeitillegal,impossible,orimpracticabletousethegiftforthe
purposespecifiedabove,thentheDirectoroftheFoundationortheSuperintendentoftheSchoolmaysubmita
requestformodificationofthispurposetotheBoardofDirectorsLansingChristianSchoolFoundation.If,inthe
bestjudgmentoftheDirectors,suchmodificationisdeemedprudentandinkeepingwiththeoriginalintentof
thedonor,theymayauthorizetheuseofthespendableincomefromtheFundforthemodifiedpurpose.Inthe
eventofsuchmodification,thenameofthedonorwillcontinuetobeassociatedwiththefund.

GiftsofSecurities
Publiclytradedsecurities,bonds,andgovernmentissuesmaybegiventotheFoundationfortheSchool.

PlannedGifts
TheFoundationencouragesdonorstodisclosetheirbequestintentionsinwritingtoensuretheSchoolisabletocarry
outtheirwishesandthatthegiftsconformtothisGiftAcceptancePolicy.

CharitableBequests
LCSFsuggeststhefollowinglanguagebeincorporatedintobequests:
IgiveandbequeathtoLansingChristianSchoolFoundation,anonprofitcorporationestablishedunder
thelawsofMichigan

Charitableremaindertrusts
Charitableremaindertrustsareestablishedwhenadonorirrevocablytransfersmoneyorsecuritiestoatrustee
(notaffiliatedinanywaywithLCSF)whoinveststheassetstopayannuallifetimeincometothedonororothers

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chosenbythedonor.Attheendofthebeneficiarieslives,theremainingassetsaredistributedtothe
Foundation.

GiftsofLifeInsurance
GiftsoflifeinsuranceaspartofplannedgivingshouldnametheFoundationbeneficiaryofthepolicyupondeath
orasbeneficiaryandowner.

NonTraditionalInvestments
TheFoundationmayacceptgiftsofnontraditionalinvestments,suchassharesofstockincloselyheldcompaniesor
partnershipinterests,afterathoroughreviewofthefollowingfactors:

Marketability
Natureofanyapplicablerestrictions
Legalandotherliabilitiesassociatedwiththeasset
Carryingcostssuchasadministrativeandlegalfees
Exposuretounrelatedbusinessincometaxliability
AppraisalsAllappraisalsofrealandpersonalpropertycontributedtotheFoundationshallbemadein
accordancewithIRSPublication561.Expensesincurredobtaininganappraisalwillbetheresponsibilityofthe
donorunlessspecialcircumstancesexistthatmakeitappropriatefortheFoundationtosharethecost.Any
appraisalcostbornebytheFoundationmustbeapprovedbytheFoundationBoardofDirectors.

RealEstate
TheFoundationmayacceptgiftsofrealestate,includinghouses,condominiumsandcommercialproperties,farmland,
rentalpropertyandundevelopedland.Thedecisiontoacceptgiftsofrealestaterequirestheapprovalofthe
Foundation'sBoardofDirectors.

WhentheFoundationreceivesagiftofrealestatepropertyfromanestate,theFoundationwillensurethatpoliciesin
regardtoacceptinggiftsofrealpropertyarefollowed.TheFoundationmaydisclaimownershipoftherealproperty
basedonanevaluationbytheoutsideconsultantintheeventadeterminationismadethatpotentialproblemsexist.
Thesegiftsarereceivedafterathoroughreviewofthefollowingfactors:

Usefulnessofthepropertyfortheschoolspurposes
Marketabilityoftheproperty
Existenceofrestrictions,reservations,easementsand/orotherlimitations
Existenceofencumbrances,suchasmortgagesandmechanicsliens
Carryingcosts,suchaspropertyowner'sassociationdues,taxes,insuranceandothermaintenanceexpenses
Fairmarketvalueinrelationtothecostsandlimitslistedaboveasdeterminedbyaqualifiedappraisal
conductedinaccordancewiththeIRCandregulations.

Priortotheacceptanceofanyparcelofrealproperty,anassessmentofthepotentialenvironmentalriskswillbe
conducted.Thisassessmentshallincludethefollowing:

Aninquiryofthepresentownerregardinghis,heroritsknowledgeofthehistoryoftheproperty
Atitlesearchtodeterminewhothepriorownersmighthavebeen
Aconsultationwithfederal,state,andlocalenvironmentalagenciestofindoutwhetherthepropertyhasany
historyofhazardouswastecontamination

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Avisualinspectionofthepropertyforanyevidenceofenvironmentalhazards
TheFoundationmayalsorequireanenvironmentalauditconductedbyaprofessionalservice.

GiftsinKind(TangiblePersonalProperty)
TheFoundationmayacceptgiftsoftangiblepersonalproperty,includingworksofart;jewelry;antiques;coin,stampand
othercollections;automobiles;manuscripts;andbooks.Suchgiftsmaybeacceptedonlyafterathoroughreview
indicatesthepropertyisreadilymarketableormaybeusedbytheSchoolorFoundation.

CorporateMatchingGifts
AllmatchinggiftsreceivedbytheLCSFoundationastheresultofemployeeoremployeescontribution(s)willbe
directedtothesamefundasthedonor'sgiftunlessspecifiedotherwisebythedonororthecontributingcorporation.

Campaigngifts
Campaigngiftsaredesignedtoraisesubstantialfunds,usuallyoveranumberofyears,tofinancemajorprojectsor
programsoftheSchool.Suchgiftsareconsideredtobeaboveandbeyondadonor'sannualgivinglevel.

Memorial&HonoraryGifts
MemorialandhonorarygiftsareencouragedbytheFoundationasgenerousandthoughtfulwaystorecognizepeople's
livesandaccomplishments.Whenamemorialgiftismade,thedeceasedindividual'snextofkinisnotifiedbythe
Foundation.Whenanhonorarygiftismade,thehonoredpersonisnotified.

FinalApproval,Acceptance&ExecutionbytheFoundation
Documentseffectuatingtheacceptanceofallgifts,thecreationofendowmentprogramsandthetransferofrealor
tangiblepersonalpropertytotheFoundationmustbeapprovedbyFoundationlegalcounselandexecutedbythe
FoundationDirector.

STATUS:
ApprovedbyLCSFoundationBoardon10/1/09

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