Supporting Thomas Memorial Library Now

Gifts Generally Accepted

Thomas Memorial Library Foundation (“Foundation”) solicits and accepts gifts that are consistent with its mission. The Foundation will generally accept monetary donations from individuals, partnerships, corporations, foundations, government agencies, donor advised funds, or other entities. The acceptance of a gift does not imply or mean that the Foundation endorses the donor’s views, opinions, businesses, or other activities. 

All gifts received by the Foundation are initially considered unrestricted, unless a donor explicitly designates the gift for inclusion in the endowment, and may be used for any purpose that is consistent with the Foundation’s tax-exempt status and mission.The Board of Directors also reserves the right to designate funds for specific purposes, either internally or as a result of donor restrictions.  Gifts designated for the endowment are considered part of the permanent endowment and will be used in accordance with the endowment’s investment and spending policies.

Donors may not exercise control over the Foundation’s use of its gifted funds. Such undue control includes, but is not limited to:

• Selection of the recipients of support from gifted funds;
• Participation in decisions related to gifted funds;
• Determination of the expenditures from gifted funds; or 
• Participation in the management of the endowed fund.

The Foundation may publish a public acknowledgement of the gift as part of its outreach (for example, during its annual appeal). The Foundation will also respect the intent of the donor relating to the desire to remain anonymous. With respect to anonymous gifts, the Foundation will restrict information about the donor to Board members only.

The Foundation will provide acknowledgments to donors meeting tax 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 by the Foundation. The Foundation will not compensate, whether through commissions, finders’ fees, or other means, any third party for directing a gift or a donor to the Foundation. The Foundation encourages 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.

Gifts Subject to Review

Certain types of gifts must be reviewed prior to acceptance due to the special liabilities they
may pose for the Foundation. Examples of gifts which will be subject to review include, but are not limited to, gifts of real property, personal property, in-kind gifts, gifts of securities, and contributions whose sources are not transparent. The Executive Committee will initially review these gifts. If the Executive Committee is unanimous, its decision is final. If the Executive Committee is divided, the Board of Directors will decide.

Gifts Not Accepted

The Foundation will not accept gifts that would result in violating its corporate charter or losing its status as an IRC § 501(c)(3) not-for-profit organization. The Foundation also will not accept gifts that are too difficult or too expensive to administer in relation to their value, would result in any unacceptable consequences for the Foundation, or are for purposes outside the mission of the Foundation, as determined after Executive Committee recommendation not to accept and the Board of Directors’ acceptance of the recommendation.

Approved by the TMLF Board of Directors May 2025