Gift Acceptance Policy

Last updated: August 22, 2023

The Fibrolamellar Cancer Foundation (FCF) solicits and accepts gifts for purposes that will help the organization further and fulfill its mission. The following policies and guidelines govern acceptance of gifts made to FCF for the benefit of any of its operations, programs, or services.

  1. Purpose of Policies and Procedures – The purpose of this document is to set forth the criteria that FCF and its Executive Committee use to determine if a proposed gift is acceptable and to inform prospective donors and their advisors of the types of gifts FCF accepts. While these guidelines establish best practices, they are designed to provide flexibility as directed by the Executive Committee.

  2. Use of Legal CounselFCF will seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate. Review by counsel is recommended for:
    • Gifts of securities that are subject to restrictions or buy-sell agreements,
    • Documents naming FCF as trustee or requiring FCF to act in any fiduciary capacity,
    • Gifts requiring FCF to assume financial or other obligations,
    • Gifts of intellectual property and patents,
    • Transactions with potential conflicts of interest, and
    • Gifts of property which may be subject to environmental or other regulatory restrictions.

  3. Communications with Donors – FCF holds all communications with donors and information concerning donors and prospective donors in strict confidence, subject to legally authorized and enforceable requests for information by government agencies and courts. All other requests for release of information concerning a donor or a prospective donor will be granted only if permission is first obtained from the donor.

  4. Professional Advice – FCF does not provide personal legal, financial, or other professional advice to donors or prospective donors. Donors and prospective donors are strongly urged to seek the assistance of their own professional advisors in matters relating to their gifts and the resulting tax and estate planning consequences.

  5. Restrictions on Gifts – FCF will accept unrestricted gifts, and gifts for specified programs and purposes, provided that such gifts are consistent with its stated mission, purpose, and priorities. FCF will not accept any gifts that
    • would result in FCF violating its corporate charter,
    • would result in FCF losing its status as an IRC § 501(c)(3) not-for-profit organization,
    • are too difficult or too expensive to administer in relation to their value,
    • would result in any unacceptable consequences for FCF, or
    • are for purposes outside of FCF’s mission.

      Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by FCF’s Executive Committee, in consultation with the CEO and other appropriate advisors.

  6. Gifts Generally Accepted Without Review:
    • Cash. Cash gifts are acceptable in any form, including by check, money order, credit card, or on-line. Donors wishing to make a gift by credit card must provide the card type (e.g., Visa, MasterCard, American Express), card number, expiration date, and name of the card holder as it appears on the credit card.
    • Marketable Securities. Marketable securities may be transferred electronically to an account maintained at one or more brokerage firms or delivered physically with the transferor’s endorsement or signed stock power (with appropriate signature guarantees) attached. All marketable securities will be sold promptly upon receipt unless otherwise directed by FCF’s CFO or Investment Committee. In some cases, marketable securities may be restricted, for example, by applicable securities laws or the terms of the proposed gift; in such instances the decision whether to accept the restricted securities shall be made by the Executive Committee.
    • Bequests and Beneficiary Designations under Revocable Trusts, Life Insurance Policies, Commercial Annuities and Retirement Plans. Donors are encouraged to make bequests to FCF under their wills, and to name FCF as the beneficiary under trusts, life insurance policies, commercial annuities and retirement plans.
    • Charitable Remainder Trusts. FCF will accept designation as a remainder beneficiary of charitable remainder trusts. However, FCF will not accept an appointment as Trustee of a charitable remainder trust and will instead encourage the donor to use a professional fiduciary.
    • Charitable Lead Trusts. FCF will accept designation as an income beneficiary of charitable lead trusts. FCF will not accept an appointment as Trustee of a charitable lead trust.

  7. Gifts Accepted Subject to Prior Review – Certain forms of gifts or donated properties may be subject to review by the Executive Committee prior to acceptance. Examples of gifts subject to prior review include, but are not limited to:
    • Tangible Personal Property. FCF may accept tangible personal property gifts valued at $10,000 or greater if the gift will generate adequate revenue for the organization and meet the purposes for which the gift is intended. In assessing the appropriateness of the gift, FCF will address the following questions:
      • Is the property marketable?
      • What is the market for and costs of transportation to market and sale?
      • Are there any undue restrictions on the use, display, or sale of the property?
      • Are there any carrying costs for the property for which the organization may be responsible?
      • Is the title/provenance of the property clear?
    • Life Insurance. FCF will accept gifts of life insurance where FCF is named as both beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay, before due, any future premium payments owed on the policy.
    • Closely Held Securities. Proposed gifts of closely held securities, which include not only debt and equity positions in non-publicly traded companies but also interests in LLPs and LLCs or other ownership forms, will be reviewed by addressing the following questions:
      • What type of entity is represented by the gift? (For example, C Corporation, S Corporation, LLC, LLP.)
      • Will the security generate unrelated business taxable income to FCF? If so, does FCF have the funds to pay this tax?
      • Are there restrictions on the security that would prevent FCF from ultimately converting those assets to cash?
      • How does the company operate? Does its operation of the gift interest create liability for FCF?
      • Is the security marketable? If so, what is the market for sale, and estimated time required for sale?

        If potential problems arise on initial review of the security, further review and recommendations may be sought from an outside professional before making a decision whether to accept the gift. If accepted, every effort will be made to sell non-marketable securities as quickly as possible

    • Real Estate. FCF will consider real property gifts with a market value of $50,000 or greater. Gifts of real estate may include developed property, undeveloped property, or gifts subject to a prior life interest. Prior to acceptance of real estate, FCF requires an initial environmental review of the property to ensure that the property is free of environmental damage. If the initial inspection reveals a potential problem, ABC may retain a qualified inspection firm to conduct an environmental audit. The prospective donor must bear the cost of the initial environmental review and any subsequent environmental audit. When appropriate, a title binder shall be obtained by FCF prior to the acceptance of any real property gift. The cost of the title binder will be borne by the donor. Criteria to be examined prior to acceptance of gifts of real estate include:
      • Is the property useful for the organization’s purposes?
      • Is the property readily marketable?
      • Is the title clear?
      • Are there covenants, conditions, restrictions, reservations, easements, encumbrances, or other limitations associated with the property?
      • Are there carrying costs (including insurance, property taxes, mortgages, notes, or the like) or maintenance expenses associated with the property?
      • Does the environmental review or audit reflect that the property is damaged or otherwise requires remediation?

  8. Miscellaneous 
    • Securing appraisals and legal fees for gifts to FCF – It will be the responsibility of the donor to secure an appraisal (where required) and the advice of independent legal, financial, or other professional advisers as needed for all gifts made to FCF.
    • Establishing the Value of Donated Property – FCF will record a gift received by FCF at its valuation for gift purposes on the date of the gift.
    • Acknowledgement of all gifts made to FCF and compliance with the current IRS requirements – It is the policy of FCF to comply fully with the valuation rules of the Internal Revenue Service and all relevant income, gift and estate tax laws and regulations. IRS Publication 561 “Determining the Value of Donated Property” and IRS Publication 526 “Charitable Contributions” provide excellent guidance and can be downloaded from

If you have comments or questions about the Fibrolamellar Cancer Foundation’s Gift Acceptance Policy, please send us an email at or send a letter via U.S. mail to:

Fibrolamellar Cancer Foundation
20 Horseneck Lane, 2nd Floor
Greenwich, CT 06830