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REFUND POLICY
SEF will graciously refund DONATIONS made for 30 days from the donation date. After this date, donations will no longer be refundable. Please simply contact us using the contact us form and we will respond to your request.

USE OF FUNDS
Donations will be managed at the direction of the Board of Directors of SEF.  Funds go directly to the support of the vision and mission. There are no donation costs other than credit card fees.

PROBLEMS OR QUESTIONS
Any questions or requested changes which you are unable to complete with the Donate interface, please contact SEF at info@sophiaeli.org

The Sophia Elizabeth Foundation (SEF) is a non-profit  organization and its operating budget is comprised mostly of financial contributions, donations, and gifts.  All of SEF’s  Outreach Programs  are dependent on financial contributions, donations and gifts. Because of this, it is important for SEF to communicate to its supporters how it handles such donations and to create a consistent organizational approach and practice regarding this vital part of its outreach.

Fundraising/Receipt Policy

Funds (see footnote) shall be solicited in a respectful manner and without pressure.
Donor designated restrictions on contributions shall be honored to the fullest extent possible so long as they are consistent with SEF outreach goals and values.

Gift Acceptance Policy

The Sophia Elizabeth Foundation (SEF) may be made in any amount for the benefit of any of SEF’s domestic or international programs. Gifts may be designated for a specific program or purpose. Gifts may also be unrestricted in which case they will be disbursed to the area of greatest need at the sole discretion of the SEF President, Executive Directors of SEF, or the SEF President’s designee.

Gifts of Cash.

SEF will accept gifts of cash, checks, money orders and payments via credit or debit card.

Marketable Securities.

SEF will accept gifts of publicly traded securities, stocks and bonds. Stock that is held electronically with a brokerage firm may be electronically transferred to SEF’s brokerage account by first calling our Relationship Development Department in order to receive specific instructions for such a transfer. To donate stock that is held in certificate form, SEF must be notified in advance so that specific instructions can be provided to the donor.

Stock in privately owned companies.

To be acceptable by SEF, stock in privately owned companies must have a qualified appraisal performed by an independent professional appraiser and the appraiser report must accompany such stock when given to SEF. Prior to approval and acceptance of such a gift, such gifts must first be reviewed by the SEF Board of Directors, Finance Committee in conjunction with SEF’s legal counsel. If immediately marketable, the stock in privately owned companies will be sold. If such stock is not immediately marketable, they will be kept in a secure facility such as a bank or other financial institution until such time when they can be redeemed, sold or liquidated.

Stock in Subchapter S corporations.

To be accepted, such stocks must have a qualified appraisal performed by an independent professional appraiser. Prior to approval and acceptance of such a gift, such gifts must first be reviewed by the SEF's Board of Directors, Finance Committee in conjunction with SEF’s legal counsel.

Real Estate.

Gifts of real estate may be accepted by SEF. SEF review of gifts of real estate shall include, but not be limited to, legality, title, encumberances, liens, mortgages, easements, restrictions, and environmental issues. Until the real estate or property is sold and proceeds are deposited into the SEF account, all legal obligations related to ownership of the real estate such as taxes, insurance, utilities and security shall remain with the donor.

Tangible personal property.

The property must be saleable and the donor must agree that the property can be sold unless SEF agrees to use the property for a purpose related to the exempt purpose of the organization. At least one qualified appraisal by an independent professional appraiser is required and such appraisal must be shared with SEF prior to any SEF decision to accept such a gift of tangible personal property.

Appraisals.

In any of the cases where an appraisal is required, it is the sole responsibility of the donor to obtain and pay for competent appraisal services and to share the results of such appraisal with SEF.

Substantiation.

It shall be the responsibility and legal obligation of the donor to seek and obtain advice from his or her professional financial advisors, to substantiate any tax deductions, and to comply with IRS regulations and policies, including the filing of IRS Form 8283.

Additional Provisions

Gift Agreements.

Where appropriate and advisable, SEF may enter into a written gift agreement with a donor which shall specify the terms of any restricted gift, which may include provisions regarding donor recognition.

Pledge Agreements.

SEF’s acceptance of pledges of future support (including by way of matching gift commitments) shall be contingent upon the execution and fulfillment of a written Charitable Pledge Agreement, on a form supplied by SEF, which shall specify the terms and conditions of the pledge including any provisions regarding donor recognition.

Fees.

The donor is responsible for (a) the fees of independent legal counsel retained by donor for completing a gift to SEF; (b) any appraisal and appraisal report fees; (c) the cost of any environmental assessments, audits and reviews; (d) any title searches, reports, insurance or binders (in the case of real property); and (e) all other third-party costs and fees associated with the transfer of the gift to SEF.

Valuation of Gifts.

SEF shall record gifts received at their valuation on the date of gift, except that, when a gift is irrevocable, but is not due until a future date, the gift may be recorded at the time the gift becomes irrevocable in accordance with GAAP.

IRS Filings upon Sale of Gifts.

To the extent applicable, SEF shall file IRS Form 8282 upon the sale or disposition of any charitable deduction property sold within three (3) years of receipt by SEF. “Charitable deduction property” means any donated property (other than money and publicly traded securities) if the value claimed by the donor exceeds $5,000 per item or group of similar items donated by the donor to one or more donee organizations (e.g., the property listed in Section B on Form 8283). SEF shall file this form within 125 days of the date of sale or disposition of the asset in accordance with applicable IRS rules and regulations.

Written Acknowledgement.

SEF shall provide written acknowledgement of all gifts made to SEF and comply with the current IRS requirements in acknowledgement of the gifts.

Changes to or Deviations from the Policy.

This Policy has been reviewed and accepted by the SEF’s Board of Directors, which has the sole authority and discretion to change this Policy. In addition, the Board of Directors must approve in writing any deviations from this Policy.

Endowment Policy

All gifts given to The Sophia Elizabeth Foundation (SEF) for the purpose of establishing an endowment or contributing to an existing endowment must first be completely reviewed and then formally accepted by the SEF Board of Directors, Finance Committee.
Establishment and management of endowment funds represent a significant legal and financial commitment on the part of SEF. Therefore, the minimum amount for an initial gift for individual named endowment purposes is $25,000. Recognizing that such sums must often be accumulated over a period of years, SEF will allow a donor to spread the payments for a period of up to five years to meet the minimum endowment policy amount. An endowment fund is not activated until the minimum funding level has been reached. An endowment fund may be designated for a specific purpose, program, or department depending on the wishes of the donor and is subject to approval of the SEF Board of Directors, Finance Committee.

In the case of a pure endowment–that is, one created when the donor specifies that a contribution is to be used for an endowment—the principal may not be expended under circumstances not expressly set out in gift documents.

In the case of a quasi-endowment–usually, one created by SEF itself using funds that were not specifically designated for an endowment or one designated as quasi by the donor––the principal may be invaded only after review and approval of the Board of Directors at the recommendation of its Finance Committee.

The terms “funds,” “contributions,” “gifts” and “donations” are used interchangeably throughout this policy document unless otherwise stated.