Episcopal Diocese of Virginia
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Gift Policy Guidelines






From time to time, it is anticipated that gifts other than cash or publicly traded securities may be made to St. Thomas’ Church or there may be gifts, including cash and publicly traded securities, which are subject to conditions and limitations.  Any gifts other than cash or publicly traded securities and any gifts with conditions or limitations must be formally accepted by the Vestry on behalf of the Church.  For purposes of these guidelines, a gift to an established fund or program of the Church without further restriction is not considered to be a gift subject to conditions or limitations.  The Vestry has adopted the following guidelines for acceptance of these types of gifts.


The Vestry shall have the sole and full authority to accept and reject any gifts other than cash or publicly traded securities or any gifts with conditions and limitations and shall advise the donor through the Rector of its decision to accept or reject any such gift.  The Vestry may consult with appropriate legal, financial and other experts regarding any such gift as well as individuals or firms who may specialize in the management, sale or use of a specific gift property.


The Vestry shall act as promptly as reasonably possible to advise the donor of the acceptance or rejection of a gift other than cash or publicly traded securities without conditions or limitations.  Once a gift has been accepted and unless the Vestry chooses to retain it in kind, the Vestry or its designee shall proceed to convert any such gift to cash as quickly as prudently possible.


The primary focus of the Vestry in evaluating gifts will be the financial benefits to St. Thomas’ Church as well as the ease of converting a non-financial gift to cash or its usefulness in kind in church activities and programs and any conditions or limitations sought to be imposed.  Any expenses relating to the sale, storage or management of such a gift will be carefully considered as they have an impact on the ultimate value to St. Thomas’ Church. Gifts which may be difficult to market or are of a unique character bear special scrutiny.


While St. Thomas’ Church will acknowledge all accepted gifts, in no instances will it value or provide a valuation of any type of gift other than to acknowledge the dollar amount of cash gifts and the number of shares of stock and date of receipt of any publicly traded securities.