The American Mathematical Society (AMS) is a private, not-for-profit entity organized under the laws of the District of Columbia. The AMS encourages the solicitation and acceptance of gifts for purposes that will help it further and fulfill its mission. The following policies and guidelines govern acceptance of such gifts made to the AMS for the benefit of any of its programs and services.
The volunteer leadership and staff of the AMS solicit current and deferred gifts from individuals, corporations, and foundations to secure its future growth and accomplish its mission. These policies and guidelines govern the acceptance of gifts by the AMS and provide guidance to prospective donors and their advisors when making gifts. The provisions of these policies apply to all gifts received by the AMS for any of its programs or services. These policies are policies of the Board of Trustees of the AMS and must be created and amended by that Board.
The policies serve to ensure that tax-deductible gifts are received in a manner consistent with the Internal Revenue Code and do not jeopardize the AMS’s tax-exempt status; to minimize the AMS’s incurrence of potential liabilities; and to limit the acceptance of gifts which are difficult to administer and/or inconsistent with the AMS’s mission.
All gifts must serve the mission of the AMS and are subject to the approval of the AMS Board of Trustees. The AMS has the right to accept or refuse any gift based on this policy or other considerations.
The AMS will strive to fulfill the charitable intentions of each donor. The interests of the donor shall be given utmost consideration in coordination with these policies and the interest of the AMS.
Persons acting on behalf of the AMS shall encourage the donor to discuss a proposed gift with legal and/or tax advisor(s) of the donor’s choice and at the donor’s expense. This is to ensure that the donor receives a full, accurate and independent explanation of all aspects of the proposed charitable gift.
The AMS will remain open and accessible to its donors, communicating its activities, use of funds and policies and procedures.
Requests by donors for anonymity will be honored. Permission to recognize a donor and his/her gift publicly will be assumed unless otherwise requested.
The AMS will accept unrestricted gifts and gifts for specific programs and purposes, provided that such gifts are consistent with its stated mission, purposes, and priorities. Determinations as to acceptance of routine gifts may be made by the Executive Director, as well as by the Director of Development, in consultation with the Fiscal Department, where appropriate. All non-routine gifts and any gifts designated in the policy for review by the Development Committee (described below) should be directed to the Development Committee, which committee will be responsible for recommending to the Board of Trustees as to whether a particular gift should be accepted or declined.
Restrictions on the expenditure of funds may require Council approval, for example when creating a new prize, award, or fellowship. Donors should be informed when such approval is needed. The AMS will not accept gifts that are excessively restrictive in purpose. Gifts that are too restrictive are, for example, those that violate the terms of the corporate charter of the AMS, gifts that are too difficult to administer, or gifts that are for purposes entirely outside the mission of the AMS.
Unrestricted gifts received in the following forms may be accepted by the Executive Director and will not require prior review of the Development Committee:
Gifts requiring review by the Development Committee include, but are not limited to:
The Development Committee shall consist of the AMS President, Treasurer, Secretary, Chair of the Board of Trustees, fifth year member of the Board of Trustees, and Executive Director.
The principal activities of the Development Committee are to represent the Council and Board of Trustees in early discussions with potential donors about establishing new prizes and awards; recommend to the Executive Committee and Board of Trustees priorities for funding in planned development initiatives; and recommend to the Board of Trustees whether to accept gifts offered to the Society.
In making recommendations as to whether particular gifts should be accepted by the AMS, the Development Committee is charged with making determinations including whether gifts are in line with the AMS’s mission and whether gifts are cost-prohibitive or burdensome for the AMS to process. Such determinations include, but are not limited to, the following: the charitable intent and ultimate benefit of the gift, the nature of any restrictions, the permanency of the fund, the projected costs of managing the gift asset, and the fee revenues that may accrue to the AMS for administering the gift.
The Development Committee shall have the ability to authorize payment of gift administration fees, such as professional fees, where appropriate.
The AMS shall seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate. Review by legal counsel is recommended for:
The following types of gifts are acceptable:
The following criteria govern the acceptance of each gift type:
All information concerning prospective donors, including names and addresses, names of beneficiaries, nature and worth of estates, amounts of provisions, etc. shall be kept strictly confidential by the AMS and its authorized personnel unless the donors grant permission to use selective information for purposes of referral, testimonial or example at the discretion of the donor or authorized representatives.
The Board of Trustees must approve any changes to, or deviations from, these policies.