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Gift Acceptance Policy

INTRODUCTION

To protect the interests of GOSPEL FOR ASIA, INC. (hereinafter referred to as the "Organization") and the persons and entities who support its causes, these policies are designed to assure that all gifts to, or for the use of, charitable causes are structured to provide maximum benefit to all parties involved.

The Organization shall execute no planned giving agreement without the advice of legal counsel. Prospective donors shall be strongly encouraged to seek their own legal and/or tax counsel in matters relating to their charitable gifts, taxes, and estate plans.

The goal of this policy is to encourage giving to the Organization without encumbering the Organization with gifts that cost more rather than benefit the Organization. The goal is also to avoid gifts that the donor restricts in a manner inconsistent with the goals of the Organization.

To facilitate the receipts of gifts and bequests, the Organization must be capable of responding quickly and in the affirmative where possible to all gifts offered by prospective donors. Unless stated otherwise, the Board of Directors intends that these policies apply to all gifts.

  1. Gifts of:
    1. Cash
      1. The Organization will accept gifts in the form of cash and cheques regardless of amount, unless: (a) a question exists as to whether the donor has legal title to the asset; or (b) a question exists as to the legal capacity of the donor to transfer funds.
      2. Donors shall make all cheques payable to GOSPEL FOR ASIA, and donors shall never make cheques payable to an employee, director, agent, or volunteer for the credit of the Organization.
    2. Publicly Traded Securities
      The Organization shall accept publicly traded securities. The donor may anticipate that the Organization may immediately sell such securities.
    3. Closely Held Securities
      The Organization may only accept closely held securities upon written approval by the Board of Directors. The Board of Directors will review these securities using the following criteria:
      1. There is a readily available market for their disposition.
      2. Accepting such securities will not create any potential liability to the Organization.
      3. The closely held entity engages in no activities that would be inconsistent with Organization objectives.
      4. The Organization has identified whether the security will generate unrelated business income taxes ("UBIT").
    4. Real Property
    5. The Board of Directors must approve in writing all gifts of real estate in advance of accepting the gift.

      1. The Organization may require that a licensed appraiser issue an appraisal of the real estate before acceptance. The licensed appraiser shall not have any business or other relationship with the donor. The costs of the appraisal shall be borne by the donor.
      2. The Organization cannot accept any gift of real estate until the Board determines that no environmental waste contaminates the property. The Organization may require a Level I Environmental Survey. All costs related to the survey will be borne by the donor.
      3. In general, residential real estate located within the state of Texas will be accepted, unless the Board of Directors shall determine for some reason that the property is not suitable for acceptance.
      4. Special deliberation shall be given to the receipt of real estate encumbered by a mortgage, as the administration of such property may give rise to unrelated business income for the Organization, as well as payments, taxes and insurance that may burden the Organization's finances.
      5. The Board of Directors may choose to accept royalty interests in oil, gas, or other minerals. Before accepting such interests, the Organization shall engage legal counsel and other professional advice, where appropriate, to evaluate whether accepting the gift exposes the Organization to environmental or other liabilities. The Organization shall not accept working interests.
    6. Tangible Personal Property
      1. Jewelry, artwork, collections, and other personal property shall not be accepted unless the employee, agent or volunteer working on behalf of the Organization shall have reason to believe the property has a value in excess of $1,000. Such property can only be accepted on behalf of the Organization by the Board of Directors or such other person or persons authorized to do so by the Board of Directors.
      2. No personal property shall be accepted by the Organization unless there is reason to believe the property can be quickly sold. No personal property shall be accepted that obligates the Organization to retain it in perpetuity. No perishable property or property which that will require special facilities or security to properly safeguard it will be accepted without prior written approval of the Board of Directors.
      3. Notwithstanding the forgoing, if there is reason to believe personal property has a value of $1,000 or more, it may only be accepted after an appraisal qualified under the terms of the Internal Revenue Code governing gifts of personal property and a review by the Board of Directors or those empowered to act on its behalf.
      4. The ministry will not accept personal property gifts with a value under $1,000.
    7. Other Property
      Other property of any description including mortgages, notes, copyrights, royalties, easements, whether real or personal, shall only be accepted by further action of the Board of Directors or persons duly acting on its behalf.
  2. Deferred Gifts
    1. Bequests
      1. The Organization shall actively encourage gifts through Wills and Living Trusts.
      2. In the event of inquiry by a prospective donor, representations as to the acceptability of a bequest to the Organization shall be made in accordance with this Gift Acceptance Policy only.
      3. The Organization shall at all times retain the right to refuse a gift from an individual or from an estate when it is not in the best interest of the Organization to accept the gift.
      4. When the Organization is the recipient of a gift from a will or trust, the Board of Directors shall review the restrictions upon the gift and determine if it is in the best interests of the Organization to accept the gift. The Board of Directors may appoint a person or persons to review the restrictions and report their findings and recommendations to the Board of Directors for their decision. This report may be given in person, on the phone or over email.
      5. The Organization will not accept a gift that might result in conflict within the Organization or confusion as to the utilization of the gift or that might create an undue financial burden upon the Organization.
      6. When the Organization receives an unrestricted estate gift, the Board of Directors, or those empowered to act on its behalf, in consultation with the Organization's President, shall determine its highest and best use at the time. If the Organization has created an Endowment Fund and the unrestricted funds are not needed for the ordinary and everyday expenses of the Organization, priority for unrestricted gifts may be as an addition to the Organization's Endowment Fund.
    2. Life Estate Gifts
      1. Donors shall generally not be encouraged to make gifts of a remainder interest in real property in which the donor retains a life estate.
      2. This policy is based upon the possibility that the donor may need to sell the home in the future and find that the value of the life estate is a small portion of the value of the property. Such gifts may be accepted by the Board of Directors when the asset involved appears to be a minor portion of the donor's wealth, and the Board of Directors are satisfied that there has been full disclosure to the donor of the possible future ramifications of the transaction.
    3. Gifts of Life Insurance
      1. The Organization will encourage donors to name the Organization as a beneficiary of all or a portion of a person's life insurance policies.
      2. The Organization will not, however, as a matter of course, agree to accept gifts from donors for the purpose of purchasing life insurance on the donor's life. Exceptions to this policy will be made after researching relevant state laws to assure the Organization has an insurable interest under applicable state law.
      3. No insurance products may be endorsed for use in funding gifts to the Organization. In no event shall lists of the Organization's donors be furnished to anyone for the purpose of marketing life insurance for the benefit of donors or the Organization. This policy is based on the fact that this practice represents a potential conflict of interest, may cause donor relations problems, and may subject the Organization to state insurance regulation should the activity be construed as involvement in the marketing of life insurance.
    4. Retirement Plan Beneficiary Designations. The Organization welcomes the opportunity to be named as a beneficiary of a donor's retirement plan. Such designation shall be considered a revocable gift and not recorded as revenue until the designation becomes irrevocable, typically at the death of the donor.
    5. Trust. The Organization welcomes the opportunity to be named as a beneficiary of donors' trusts, such as charitable remainder trusts (CRTs), charitable lead trusts (CLTs), and revocable trust arrangements. However, the Organization will not serve as a trustee of any trust and instead encourage donors to use a professional fiduciary.
    6. Charitable Gift Annuities. Gospel for Asia may offer charitable gift annuities to be administered by an approved third party. Approved third-party Charitable Gift Annuity ("CGA") administrators are:
      1. National Christian Foundation
      2. Waterstone
      3. The Orchard Foundation
      Additional third-party administrators may be approved by the Board of Directors. The CGA contract is between the donor and the third-party administrator on behalf of Gospel for Asia.

      Requirements for CGAs are set by the third-party administrator, and currently include the following:
      1. The minimum gift for funding is $10,000.
      2. The minimum age for life-income beneficiaries of a gift annuity shall be 55.
      3. Where a deferred gift annuity is offered, the minimum age for life-income beneficiaries shall be 45.
      4. No more than two life-income beneficiaries will be permitted for any gift annuity.
      5. Annuity payments may be made on a quarterly or annual schedule.
      6. CGAs may be funded with cash or publically traded securities
  3. Designated Gifts and Designated Accounts
    1. Establishing Designated Funds
      1. The Board of Directors, with input from the Organization's President, will determine what designated accounts may be established.
      2. Any donor to the Organization may request in writing to the Board of Directors the establishment of a designated account. Once an account is established, the Organization may accept funds into that account.
      3. The Board of Directors will determine the length of time the account shall exist. When that time has passed, the Board of Directors may either extend the time period for expiration of the account or transfer any remaining funds to the general fund.
    2. Disbursing Designated Funds
      1. Designated funds may only be spent for the purpose for which they are designated.
      2. If, at any time, the Organization accepts custody of designated accounts that have not been approved and established by the Board of Directors, and the Organization does not intend to use the designated funds for the purpose designated, the Organization will return the monies to the donor or contact the donor for permission to transfer the funds to another fund or another charity chosen by the donor.
    3. Notice to Donors. The Organization shall include a reference to the following statement in fund raising, solicitation materials and the original on donor receipts:
    4. "Gospel for Asia will attempt, whenever consistent with our charitable purposes and budget, to honor our donor's preferences regarding the use of their gifts.

      Donor's designations will be treated as suggestions (preferences) unless the Board of Directors has approved of the designations before receiving the gift.

    Gospel for Asia maintains full control over all funds donated, and ultimate discretion as to their use, including redirection to other Organization needs. This ensures that all funds will be used most effectively to carry out GFA's charitable purposes, as required for contributions to be tax-deductible in the United States. However, all donations are subject to the Gift Acceptance Policy.

  4. Miscellaneous
    1. Organization employees and volunteers shall not provide legal, accounting, tax, or financial advice to donors or prospective donors.
    2. No finder's fee or commission shall be paid to anyone as consideration for directing a gift to the Organization.
    3. The Organization may seek the advice of legal counsel when considering certain gifts. The donor may be asked to share the costs of such advice, at the discretion of the Organization's President. Generally, legal counsel will be sought in connection with gifts involving:
      1. Closely held stock, and particularly when the stock is subject to restrictions or buy-sell agreements;
      2. Gifts involving contracts that bind the Organization, such as bargain sales or real property with a mortgage attached;
      3. Gifts of patents, intangibles, and intellectual property;
      4. Transactions with potential conflicts of interest; and
      5. Other instances at the discretion of the Board of Directors or the President, except that the Organization shall always seek the advice of legal counsel when accepting a gift outside the parameters of these Gift Acceptance Policies.
    4. It is the responsibility of the donor to secure an appraisal of a gift to the Organization when an appraisal is necessary.

    This policy was adopted by a resolution of the Board of Directors of Gospel for Asia.


Gospel for Asia's National Missionary Program

Gospel for Asia seeks to provide Christians in the West with the opportunity to participate in sharing the message of Christ's love among those who have never before heard there is a God who loves them.

Working in strategic alliances with national missionary sending agencies in Asia, Gospel for Asia makes it possible for Christians in the West to become personally involved in the Great Commission by helping to send well-qualified, committed national missionaries who will become living examples of the message of hope that can be found in Christ.

GFA's National Missionary Program provides for the needs of thousands of brothers and sisters who, after three years of intensive training, have dedicated their lives to taking the message of Christ's love to those who have never before experienced it.

On average, it takes between $210–$330 a month for Gospel for Asia's National Missionary Program to fully support one national missionary, including the missionary's basic living expenses as well as providing for some ministry expenses. However, a pledge of as little as $30 a month can help Gospel for Asia send well-trained national missionaries to places in Asia where people have never before known the Source of true hope.

For each monthly pledge of $30 to GFA's National Missionary Program the sponsor will receive a photo and information about a missionary they can pray for. The missionary's personal testimony and family information will be included, as well as information regarding the region in which this missionary serves.

Your prayers are a crucial part of the sponsorship of a national missionary. The missionary is working in some of the most difficult areas of the world and often faces extreme opposition that comes in the form of spiritual warfare and also, many times, beatings and possibly even death. Your prayers are a crucial part of their successful ministry.

Normally, each quarter you will receive updated information regarding the region in which your missionary is serving. The updates include reports about the growth of the work of the Lord in their area, what kinds of opposition missionaries may be facing and information about how the sponsor can pray.

This is intended to allow you, the sponsor, to intercede more fully for the situations your missionary(ies) faces on a daily basis, so you can stand in the gap for your missionary and their ministry. As you stand in the gap for your missionary(ies), you will be helping to lift their hands (see Exodus 17:12) and strengthen them for the battles they are facing in the spiritual realm.

As people respond to the message of Christ's love, you, as a sponsor, can have the satisfaction of knowing you have been personally involved in that process. By standing with a national missionary, you will be storing up treasures in heaven (see Matthew 6:20) that will last forever. What a joy it will be when we all stand before the throne of grace, looking out at a great multitude that no man can number from every tribe and language (see Revelation 7:9). Some of these will be men, women and children whom you helped by partnering with a national missionary. Maybe somebody will come to you and gratefully and passionately thank you for linking your life with the missionary who shared Christ's love with them, which eventually ended up transforming their lives. Then you will have the privilege of worshiping our Lord together for all eternity!

*Gospel for Asia's field partners are independent of Gospel for Asia and are solely responsible for the oversight of their national missionaries. Gospel for Asia provides funding for national missionaries and serves as a conduit of communication between the mission field and the sponsor.

Gospel for Asia's Bridge of Hope Program

Gospel for Asia, in a strategic alliance with Bridge of Hope, an independent South Asian Child Sponsorship ministry, seeks to provide Christians in the West with the opportunity to minister to the physical needs of children in poverty, as well as to form a lasting relationship with these children.

Gospel for Asia's Bridge of Hope Program's role is to provide Western Christians the opportunity to donate toward the physical well-being of the children, as well as to provide a conduit through which communication and relationship building can take place. While operating in a strategic alliance with Gospel for Asia, Bridge of Hope is owned and operated by Believers Church, India, and is free of any form of control by Gospel for Asia.

By sponsoring a child through Bridge of Hope you will not only be entering into a relationship with a child, but you will also enable the Bridge of Hope program to provide life-changing assistance to your child, as well as to thousands of children throughout Asia. Bridge of Hope provides children with a quality education, a daily nutritious meal and medical care, all the while allowing them to daily experience the love of Jesus.

Often your gift will open a door that allows Bridge of Hope to minister to the children's families, and often to the entire community as well. By God's grace and through the generosity of donors like you, Bridge of Hope is currently able to help meet the needs of more than 75,000 underprivileged children.

By sponsoring, you can become personally involved in the life of one or more of these precious children. As a Bridge of Hope sponsor, you will receive a packet that includes the name, picture, personal and family information for each child you desire to sponsor. You will be given the opportunity to write to your child and personally share information about you and your family, which will help to build a lasting relationship. Your child will write back to you on a regular basis.

Through your letters, you can help the child to understand there is somebody who cares deeply about them and wants to stand with them to support them. Your letters are an important aspect of the Bridge of Hope ministry and will be a significant encouragement to a child who often feels trapped in very difficult circumstances.

The knowledge that you are praying for them provides the spiritual connection that will help them understand there is a God who loves them even more than you do. This is also critical in helping them understand they are not alone, but rather they are part of something that is much bigger than them: the Body of Christ, which loves and cares for them personally.

As you intercede for your child, asking the Lord of the universe to help your precious child to grow into all He wants them to be, you will be helping to unleash heavenly forces to act on the behalf of your child.

Donors often wish to provide special gifts to the child they sponsor. While GFA encourages correspondence with sponsored children, we ask that any special gift be limited to those gifts that can be mailed as a flat item, such as stickers, pages of coloring books or pictures, as there are many difficulties associated with importation of packages in overseas locations. Given the difficulties of shipping to some overseas locations, we cannot guarantee donors that gifts sent will always be received by the child. Also, given the fact that many children live in difficult financial conditions, large financial gifts may not be in the best interest of that child or those around him or her, and may be better utilized by spreading those gifts for the benefit of the entire community. For that reason, it is our policy that special financial gifts will be used for the benefit of the entire Bridge of Hope rather than a specific child.

*Bridge of Hope is independent of Gospel for Asia and is solely responsible for serving the underprivileged children in Asia. Gospel for Asia provides funding for Bridge of Hope and serves as a conduit of communication between the sponsor and their child.

** Due to socioeconomic conditions, a version of this sponsorship program is offered only within India that makes available multiple sponsorships with a lower monthly donation amount.