BARNABAS INTERNATIONAL DONATION POLICIES
Barnabas International also known as BI is a non-profit 501(c)(3) organization and its operating budget is comprised mostly of financial contributions, donations, and gifts. Because so much of BI’s budget to carry out its worldwide mission depends on financial contributions, donations and gifts, it is important for BI 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 ministry.
1. Funds (see footnote) shall be solicited in a respectful manner and without pressure with the understanding that BI has complete discretion and control over the use of all donated funds.
2. Donor preferences on contributions shall be honored as long as they are consistent with BI ministry goals and values but the final decision on the use of all donations will be made by BI.
3. Barnabas International, BI, is a non-profit 501(c)(3) organization and contributions made to the organization are tax deductible as charitable contributions for federal and state income tax purposes.
Gift Acceptance Policy
Gifts to Barnabas International, BI, may be made in any us dollar amount for the benefit of any of BI’s domestic or international programs. Gifts may be designated for a specific ministry or program with the understanding that BI has complete discretion and control over the use of all donations. Gifts may also be unrestricted in which case they will be disbursed to the area of greatest need.
1. Gifts of Cash
BI will accept gifts of cash, checks, money orders and payments via credit or debit card or electronic fund transfer. BI will accept bank checks from donors who elect to contribute via their banks bill pay system.
2. Marketable Securities
BI will accept gifts of publicly traded securities, stocks and bonds. Stock that is held electronically with a brokerage firm may be electronically transferred to BI’s brokerage account by first calling our office at (815) 395-1335 in order to receive specific instructions for such a transfer. To donate stock that is held in certificate form, BI must be notified in advance so that specific instructions can be provided to the donor.
3. Planned Giving
BI will accept a variety of planned giving options including wills, revocable living trusts, charitable remainder trusts, charitable gift annuities, beneficiary proceeds, and life insurance. BI must be notified in advance so that specific instructions can be provided to the donor.
4. Corporate Matching Gifts
BI will accept donations from organizations that have matching gift programs. BI is a recognized by the United States as a 501(c)(3) charitable organization.
5. Amazon Smile
BI will accept donations from The Amazon Smile Foundation who donates 0.5% of the sale of eligible items to Barnabas as a preferred charity.
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.
The donor is responsible for (a) the fees of independent legal counsel retained by donor for completing a gift to BI; (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 BI.
2. Valuation of Gifts.
BI 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.
3. Written Acknowledgement.
BI shall provide written acknowledgement of all gifts made to BI and will comply with the current IRS requirements in acknowledgement of the gifts.
The terms “funds,” “contributions,” “gifts” and “donations” are used interchangeably throughout this policy document unless otherwise stated.