Common use of Types of Gifts Clause in Contracts

Types of Gifts. 1. Foundation shall accept the following types of charitable gift:  Liquid assets, including, but not limited to, cash, certificates of deposit and negotiable securities (i.e. mutual funds or publically traded securities).  Beneficiary designations in a will, living trust, charitable remainder trust, charitable lead trust or retirement plans. In the case of will and retirement plan designations, such designations will not be recorded as gifts to the Foundation until such time as the gift is irrevocable; when the gift is irrevocable, but is not due until a future date, the present value of that gift may be recorded at the time the gift becomes irrevocable.  Tangible personal property (gift in kind) that is related to the mission of the Foundation, such as historical technology artifacts for the IEEE History Center. 2. Foundation shall accept the following types of gifts contingent upon the satisfaction of the prescribed requirement(s):  Ownership of a Life Insurance Policy - if the policy is paid in full or the donor agrees to donate sufficient funds on a timely basis to pay any premiums remaining on the policy or agrees to pay such premiums directly. In all cases, the donor must also agree that the Foundation has the right to cash in the policy at any time. 3. Foundation Board of Directors shall approve the acceptance of the following types of gifts:  All gifts in excess of $1,000,000  Real Estate  Privately or closely held business or securities  Patents and other intellectual property  Trusts or beneficiary designations requiring the Foundation to serve as Trustee  Any other type of gift that may arise that is not covered by either Policy 4.7.A.1 or 4.7.A.2

Types of Gifts. 1. Foundation shall accept the following types of charitable gift:  • Liquid assets, including, but not limited to, cash, certificates of deposit and negotiable securities (i.e. mutual funds or publically traded securities).  • Beneficiary designations in a will, living trust, charitable remainder trust, charitable lead trust or retirement plans. In the case of will and retirement plan designations, such designations will not be recorded as gifts to the Foundation until such time as the gift is irrevocable; when the gift is irrevocable, but is not due until a future date, the present value of that gift may be recorded at the time the gift becomes irrevocable.  • Tangible personal property (gift in kind) that is related to the mission of the Foundation, such as historical technology artifacts for the IEEE History Center. 2. Foundation shall accept the following types of gifts contingent upon the satisfaction of the prescribed requirement(s):  • Ownership of a Life Insurance Policy - if the policy is paid in full or the donor agrees to donate sufficient funds on a timely basis to pay any premiums remaining on the policy or agrees to pay such premiums directly. In all cases, the donor must also agree that the Foundation has the right to cash in the policy at any time. 3. Foundation Board of Directors shall approve the acceptance of the following types of gifts:  • All gifts in excess of $1,000,000  • Real Estate  • Privately or closely held business or securities  • Patents and other intellectual property  • Trusts or beneficiary designations requiring the Foundation to serve as Trustee  • Any other type of gift that may arise that is not covered by either Policy 4.7.A.1 or 4.7.A.2