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Submitting Foundation
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Foundation Name:
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The Cleveland Foundation
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Address:
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1422 Euclid Avenue, Suite 1300, Cleveland, Ohio 44115
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Phone:
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216-861-3810
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Fax:
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216-861-2229
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Website URL:
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www.clevelandfoundation.org
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Founded:
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1914
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Submitted By:
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Ronald B. Richard
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Title:
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President and CEO
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Practice Example Details
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Methodology:
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Gift acceptance policy
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Standard:
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A community foundation accepts and administers a diversity of gift and fund types to meet the varied philanthropic objectives of donors.
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How does this practice
meet the applicable standard?
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The Cleveland Foundation has established donor guidelines for establishing a fund and a gift acceptance policy that are available in print form and on the foundation’s website.
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What method is used for
monitoring and measuring outcome?
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The donor guidelines outline the types of funds that the foundation offers and the types of donations it will accept and from what sources. It also lists the investment managers. It covers the basic IRS regulations regarding the management of donor-advised funds, grant recommendations and advisory rights. It notes there are fees charged to donor funds to cover the general operating expenses of the foundation.
The foundation’s gift acceptance policies are designed to ensure that all gifts to, or for the use of, the Cleveland Foundation are structured to provide maximum benefits to all parties. Their goal is to encourage giving to The Cleveland Foundation without encumbering the organization with gifts that may prove more costly than beneficial, or that are restricted in a manner that is not in keeping with the mission of the foundation. The foundation’s policies are intended as guidelines, and it is understood that flexibility must be maintained as some gift situations can be complex. In some instances decisions of gift acceptance will be require consideration by the gift acceptance committee on the merit of a particular gift and the final decision will be made by that body. The gift acceptance policy covers: scope; authorization; purpose of gifts; responsibilities of the Gift Acceptance Committee; business practices; procedures for review of gifts; fund options; gift options by asset type and also planned and testamentary gifts. The policy also includes A Donor Bill of Rights, supporting organizations, and real estate.
Information about fund and gift options is also available on the foundations website: www.clevelandfoundation.org.
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What were the results?
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The foundation’s policies clearly establish the types of funds it offers and the types of gifts it will accept, while leaving room for consideration of gifts and funds that are out of the ordinary. The foundation’s board and staff have clear guidelines for accepting gifts.
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