Gift Giving Policies
Acceptable and Unacceptable Gifting Instruments
Cash, publicly traded and closely held securities, mutual fund shares, real estate, tangible personal property, charitable remainder trusts, and bequests are acceptable gifts.
McQuaid Jesuit retains the right to refuse any gift that is not consistent with its mission, i.e., gifts that violate federal laws, gifts with unacceptable restrictions, gifts intended as tuition payments for a family member, and gifts that are financially unsound or could expose the school to liability.
To avoid confusion and inefficiencies caused by multiple or poorly timed appeals, the solicitation of all gifts is to be approved by the Director of Development.
Stewardship and Record Maintenance
McQuaid Jesuit is ethically and legally responsible for ensuring that all gifts are utilized to fulfill the donor's intent and McQuaid Jesuit will acknowledge all gifts in a timely manner, prepare an annual report, and maintain donor confidentiality and anonymity when requested.
The Advancement Office is responsible for proper recording of all gifts, for supplying donor receipts, for proper crediting and donor recognition.
All gifts shall be reported in a manner consistent with the standards recommended by CASE (Council for Advancement and Support of Education).
Names of donors will not be sold or given by McQuaid Jesuit to other organizations for marketing or fund raising purposes.
Each year, beginning in September, McQuaid Jesuit launches its annual campaign appeal through personal solicitation to alumni, current and past parents, and friends of McQuaid Jesuit for unrestricted funds that can be used to meet McQuaid Jesuit's immediate needs.
Honor and Memorial Gifts
Gifts made in honor or memory of an individual are considered unrestricted gifts and are used for the immediate needs of McQuaid Jesuit. The opportunity to honor or remember friends, family, and loved ones are many and include holidays, birthdays, anniversaries, and other special occasions. Also, many gifts are made when a person dies, as a tribute to that person's generosity. These gifts are usually cash gifts, but may be given as a planned gift as well.
Gifts In Kind
You may wish to give McQuaid Jesuit a non-monetary gift. These could include but are not limited to: new or used computers, automobiles, office equipment and other items or services. To explore this option, please contact a member of the McQuaid Jesuit Advancement Office.
Many companies support McQuaid Jesuit by matching or multiplying an employee's gift to the school. Spouses and retirees also can participate in a matching gift program by designating their gifts to McQuaid Jesuit. "Credit" for these matching gifts accrues to the individual donor.
The use of a contribution, or the income from a contribution, can be designated by a donor for a specific purpose. A primary purpose of a restricted gift is to provide funds for scholarships and endowed scholarships. All restricted gifts for endowment purposes will be accepted on the condition that should the purpose for which the funds are provided cease to exist, the President of the school shall recommend that the Board of Trustees allocate the income from those funds to a purpose which closely matches the donor's intent.
An endowed gift is a restricted gift and may be named for the donor or someone the donor wishes to honor. It ensures ongoing support for McQuaid Jesuit and its students. The amount needed to establish an endowed scholarship is reviewed annually. The current minimum donation needed to establish a named endowment scholarship is $50,000. Gifts to permanent endowment funds of McQuaid Jesuit are governed by New York Prudent Management of Institutional Funds Act, unless otherwise restricted by a gift agreement.
The Director of Development will present any gifts of real estate to the President of the school who will accept, refuse or ask for the Board's recommendation.
Bequests and Charitable Trusts
McQuaid Jesuit encourages gifts through bequests, charitable trusts and other life income planned giving. Only irrevocable gift plans or realized bequests will be recognized in public reporting during campaigns in accordance with campaign accounting guidelines or CASE standards.
Life Insurance Gifts
New or existing policies may be given outright by naming McQuaid Jesuit as both owner and beneficiary. Only irrevocable or realized life insurance gifts will be recognized in public reporting during campaigns in accordance with campaign accounting guidelines or CASE standards.