Gift Acceptance Policy

1. The Board of Trustees of God's Bible School and College authorizes the acceptance of donations restricted to the purpose of endowment.
   
2. Principal of endowment gifts will be maintained in perpetuity or until such time or such occurrence as specified or agreed to by the donor at the time of the gift.
   
3. Revenue form endowment gifts shall be used for the general purposes of GBS&C unless otherwise specified at the time of gift.
   
4. Restrictions and procedures for the acceptance of non-cash gifts, as outlined in the Policy on Planned Giving, shall also apply to endowment gifts.
   
5. For the purpose of investment, endowment funds may be commingled with other funds of GBS&C under the direction of the Institutional Development Committee of the Board of Trustees.
   
6. If the donor specifies at the time of gift, any endowment gift of $1000 or more in value may be designated as a Named Account.
   
7. All Named Accounts will be permanently listed in the annual report of GBS&C, unless they cease to exist due to passage of a specified period of time or the occurrence of a specified event, as designated or agreed to by the donor at the time of gift.
   
8. A gift of any size by be added to an existing Named Account if so designated by the donor at the time of gift.
   
9. As long as their combined gift is valued at $1,000 or more, the gift is made in unison, and is a direct gift of donors (not solicited from the public at large), two or more donors may act in unison to designate a Named Account, even though their individual gifts are less than $1,000 each.
   
10. An endowment of less than $1,000, and any endowment gift regardless of size which the donor does not wish to be designated as a Named Account, shall be placed in a General Endowment Fund.
    
11. Donors of gifts of $5,000 for more shall be given the privilege of naming a separate account within the Endowment Fund in memory of a loved one or family and designate a specific Approved Program of GBS&C to be the recipient of the income.
    
12. Donors are to be encouraged to designate revenue from endowment gifts to the general purposes of GBS&C.
    
13. A donor wishing to make an endowment gift with revenue designated to a specific program or purpose is to be encouraged to include a clause allowing GBS&C to redirect such revenue if the original program or purpose ceases to exist.
    
14. Endowment gifts, the revenue of which is to be restricted to a current, ongoing program of GBS&C, which do not have a redirection clause, may be accepted by the President, if, in his or her opinion, the size of the gift and the probable duration of the program warrant such action.
    
15. Endowment gifts, the revenue of which is designated to a specific purpose, other than an ongoing program or activity of GBS&C, may be accepted only with the approval of the President.
    
16. The purpose of this resolution is to allow the solicitation of new funds to strengthen the financial reserves of GBS&C, thereby assuring the orderly continuation or services.  Designation of current forms of support (annual fund, capital campaigns, specific events, etc.) to endowment is to be strongly discouraged.

Subject to the conditions above, endowment gifts may be accepted in the name of God's Bible School and College by the President and the Vice President of Advancement.