Nova Vita Foundation, a 501c3 nonprofit organization under the laws of the state of California, solicits and accepts gifts for purposes that will help the organization to further and fulfill its mission. NVF solicits and accepts outright and deferred gifts from individuals, foundations, and corporations.

The goal of this gift acceptance policy is to uniformly treat donors and provide guidelines for the acceptance and stewardship of gifts.

As a donor submitting personally identifying information (“Personal Information”) to us or any of our staff, you consent to the terms and conditions of the policy and to our processing and use of Personal Information for the purposes stated below. 

Personal Information

“Personal Information” is information that identifies you personally, such as your name, address, telephone number, and email address. We collect and store the personally identifiable information that you have provided us via one of the email addresses identified on our website or when you otherwise contact us in person, by phone or email, with a question.  We collect your name, email address and other contact information if you register for an event.  We also collect your name, email address, telephone number and payment information when you contribute, either on our website, at a special event, over the phone or by mailing in a check.  The above list provides a sample of personal information that may be collected by Nova Vita Foundation.  From time to time, we may collect personal information from you in ways not described above. 

Use of Outside Counsel

Nova Vita Foundation will urge all prospective donors to seek the assistance of independent legal and financial advisors in all matters relating to their gifts and the resulting income tax benefits, or its effect on the donor’s estate planning. Nova Vita Foundation and its employees and agents are prohibited from advising donors about the tax or other consequences of their donations. While Nova Vita Foundation does not provide tax advice, every effort will be made to assist donors in complying with Internal Revenue Service rules and regulations in order to allow donors to take advantage of charitable tax benefits.

Nova Vita Foundation will seek the advice of legal and/or financial 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 Nova Vita Foundation as trustee or requiring Nova Vita Foundation to act in any fiduciary capacity.
• Gifts requiring Nova Vita Foundation to assume financial or other obligations.
• Transactions with potential conflicts of interest.
• Gifts of property which may be subject to environmental or other regulatory restrictions.
• Other gifts of a unique nature, at Nova Vita Foundation’s sole discretion.

Gifts Generally Accepted Without Review

• Cash – Cash gifts are acceptable in any form, including by check, money order, credit card, wire and electronic funds transfer, or online.
• Publicly Traded/Marketable Securities – Marketable securities may be transferred electronically to an account maintained at Nova Vita Foundation‘s brokerage firm or delivered physically with the transferor’s endorsement attached. All marketable securities will be sold promptly upon receipt unless otherwise directed by Nova Vita Foundation’s financial team. 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 CFO.

Gifts Accepted Subject to Prior Review

Certain forms of gifts or donated properties may be subject to review prior to acceptance. Examples of gifts subject to prior review include, but are not limited to:

• Charitable Remainder Trusts – Nova Vita Foundation will accept designation as a remainder beneficiary of charitable remainder trusts.
• Charitable Lead Trusts – Nova Vita Foundation will accept designation as an income beneficiary of charitable lead trusts.
• Bequests and Beneficiary Designations under Revocable Trusts, Commercial Annuities and Retirement
• Plans – Donors are encouraged to make bequests to Nova Vita Foundation under their wills, and to name Nova Vita Foundation as the beneficiary under trusts, commercial annuities and retirement plans.
• Life Insurance – Nova Vita Foundation will accept gifts of life insurance where Nova Vita Foundation is named as both beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay, before due, any future premium payments owing on the policy.

Restrictions on Gifts

Nova Vita Foundation will not accept gifts that (a) would result in Nova Vita Foundation losing its status as a 501(c)(3) nonprofit organization, (b) are too difficult or too expensive to administer in relation to their value, (c) would result in any unacceptable consequences for Nova Vita Foundation, or (d) are, in Nova Vita Foundation’s sole determination, for purposes outside of or detrimental to Nova Vita Foundation p’s mission or are otherwise not in Nova Vita Foundation’s best interest. Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the CFO, in consultation with the CMO.

Restricted Gifts and Anonymity

Nova Vita Foundation For Students will respect the intent of the donor relating to gifts for restricted purposes and those relating to the desire to remain anonymous. With respect to anonymous gifts, Nova Vita Foundation will restrict information about the donor to only those staff members with a need to know.

Fees and Commissions

Nova Vita Foundation generally does not pay “finder’s fees” or commissions to third parties in connection with any kind of gift to Nova Vita Foundation. No officer, employee or agent of Nova Vita Foundation is or will be compensated in a manner that is dependent on the size or nature of gifts made to Nova Vita Foundation by any person. If Nova Vita Foundation engages legal counsel, accounting professionals, appraisers or environmental consultants, their fees and expenses will be determined by the time they spend engaged in Nova Vita Foundation’s work and not by reference to any particular gift in connection with which they are retained.

Changes to Gift Acceptance Policies

These policies and guidelines have been reviewed and accepted by the Board, CFO, COO and CMO. The same must approve any changes to these policies. The policies will be regularly reviewed.