Gift Acceptance and Acknowledgment. The Foundation will establish, adhere to, and periodically assess its gift acceptance and fund management policies and procedures. The Foundation will promptly acknowledge and issue receipts for all gifts made to the Foundation and provide appropriate recognition and stewardship of such gifts. If gifts are received by LCCC instead of the Foundation, the Foundation will provide appropriate recognition for such gifts when properly notified by LCCC. By law, the Foundation cannot acknowledge or provide receipts for gifts made directly to LCCC. The Foundation, on behalf of LCCC, shall routinely accept gifts-in-kind of equipment and supplies intended for LCCC use.
Appears in 2 contracts
Sources: Operating Agreement, Operating Agreement