Gift Policy
Effective Date: November 7, 2025
Organization: Gold Opportunity Development, Inc
1. Purpose
The purpose of this Gift Policy is to provide clear guidelines for the acceptance, management, and acknowledgment of charitable gifts made to Gold Opportunity Development, Inc (“the Organization”). The policy ensures that all donations and contributions support the Organization’s mission to develop and maintain affordable and supportive housing for individuals and families in need, while maintaining transparency, integrity, and donor trust.
2. Scope
This policy applies to all gifts received by the Organization, including cash donations, in-kind contributions, real property, securities, bequests, and other forms of charitable support from individuals, corporations, foundations, or other entities.
3. Guiding Principles
· All gifts must support the Organization’s mission, programs, and strategic goals.
· The Organization will not accept gifts that:
o Compromise its ethical standards or independence;
o Violate federal, state, or local laws;
o Impose unreasonable restrictions on its use or purpose;
o Could damage the Organization’s public image or reputation.
· Donor intent will be honored whenever consistent with the Organization’s mission and capacity.
4. Types of Acceptable Gifts
a. Cash and Checks:
Accepted in any amount. Gifts by check must be made payable to Gold Opportunity Development, Inc and deposited in the Organization’s designated bank account.
b. Online Contributions:
Accepted through secure, authorized payment platforms compliant with privacy and data protection standards.
c. In-Kind Donations:
Accepted if the donated goods or services directly benefit the Organization’s mission (e.g., building materials, professional services, office equipment, furnishings). The Organization reserves the right to decline any in-kind gift that cannot be used or easily disposed of.
d. Real Estate:
Real property may be accepted upon review and approval by the Board of Directors. A qualified appraisal, environmental assessment, and title review must be completed prior to acceptance.
e. Securities:
Publicly traded stocks, bonds, and mutual funds may be accepted and are typically sold immediately upon receipt. Privately held securities require Board approval and professional valuation.
f. Bequests and Planned Gifts:
The Organization encourages planned giving through wills, trusts, life insurance, and other estate planning instruments. Donors are advised to consult with their personal financial and legal advisors before finalizing such gifts.
g. Restricted Gifts:
Donors may restrict gifts for specific programs or purposes consistent with the Organization’s mission. The Organization reserves the right to decline restricted gifts that would create an undue burden or conflict with priorities.
h. Real or Personal Property for Housing Projects:
Donations of land or property intended for development or rehabilitation projects must be reviewed for compliance, environmental safety, zoning, and financial feasibility.
5. Gift Review and Acceptance Process
1. The Executive Director/CEO or designated staff will initially review all gifts to determine alignment with policy and mission.
2. The Board of Directors must approve acceptance of:
o Real estate or property gifts;
o Gifts valued over $25,000;
o Any gift that may expose the Organization to liability or ongoing expense.
3. Legal, financial, or environmental due diligence may be conducted as needed prior to acceptance.
6. Donor Acknowledgment and Stewardship
· All gifts will be acknowledged promptly in writing, in compliance with IRS substantiation requirements.
· Donors contributing $250 or more will receive an acknowledgment letter that includes the date, amount, and a statement noting whether any goods or services were provided in exchange.
· Donor recognition opportunities (e.g., plaques, event mentions, or reports) will be handled consistently and equitably.
· The Organization respects donor confidentiality and will not disclose donor information without consent, except as required by law.
7. Conflict of Interest
Board members, officers, or employees may not personally benefit from any gift to the Organization. Any potential conflict of interest must be disclosed to the Board and resolved in accordance with the Organization’s Conflict of Interest Policy.
8. Use of Gifts
All unrestricted gifts will be used at the discretion of the Board and management to support the Organization’s greatest needs and strategic objectives. Restricted gifts will be used solely for the purpose designated by the donor, as long as it remains feasible and consistent with the Organization’s mission.
9. Gift Refusal
The Organization reserves the right to decline any gift that:
· Is inconsistent with its mission or core values;
· Would create a financial or administrative burden;
· Could result in adverse publicity or liability.
10. Policy Review and Amendments
This policy shall be reviewed periodically by the Board of Directors to ensure compliance with legal standards, IRS regulations, and evolving best practices in nonprofit governance.
11. Contact Information
Questions regarding this policy or the acceptance of a specific gift should be directed to:
Gold Opportunity Development, Inc
Attention: Development Office
176-25 Union Turnpike, Ste. 221
Fresh Meadows, NY 11366