St. Andrew's Episcopal Church
Ayer, Massachusetts

Faith, Community, and Love

Restricted and Memorial Gift Policy

St. Andrew's Episcopal Church - Ayer, Massachusetts

Restricted and Memorial Gift Policy

The Vestry shall approve the acceptance of any restricted gift or memorial fund where a donor has imposed constraints or conditions on the use or purpose of the money, with the understanding that once a contribution is accepted, there is a legal obligation to honor the donor's restrictions.

I. If the gifts(s) given for a restricted or memorial fund total LESS THAN $5,000, the donation will be handled as follows:

A. Thank you note(s) to donor(s) to be written promptly by the Rector, with the aid of volunteers.
B. If there are no written instructions with the gift, the Rector shall discuss with donor(s) and/or family members how the funds are to be used.
C. If there are written instructions with the gift, the Rector and Vestry shall determine if there are potential problems with the restrictions that should be brought to the donor's attention.
D. Any of three choices (or a combination thereof) can be made:
      1. The funds be spent and a dedication ceremony to take place within twelve (12) months of of the gift. A vote of the Vestry will be needed prior to the expenditure.
      2. The funds be added to an already established restricted or memorial fund (for example, the Memorial Flower Fund, with the stipulation that flowers be given in a deceased's memory).
      3. The funds be added to the general operating fund of the parish, to be used at the discretion of the Vestry.

II. If the gifts(s) given for a restricted or memorial fund total MORE THAN $5,000, the donation will be handled as follows:

A. Thank you note(s) to donor(s) to be written promptly by the Rector, with the aid of volunteers.
B. If there are no written instructions with the gift, the Rector shall discuss with donor(s) and/or family members how the funds are to be used.
C. If there are written instructions with the gift, the Rector and Vestry shall determine if there are potential problems with the restrictions that should be brought to the donor's attention.
D. Any of four choices (or a combination thereof) can be made, as long as more than $5,000 is allocated to choice "4":
      1. The funds be spent and a dedication ceremony to take place within twelve (12) months of of the gift. A vote of the Vestry will be needed prior to the expenditure.
      2. The funds be added to an already established restricted or memorial fund (for example, the Memorial Flower Fund, with the stipulation that flowers be given in a deceased's memory).
      3. The funds be added to the general operating fund of the parish, to be used at the discretion of the Vestry.
      4. The funds be set up in a named interest bearing account to be used for whatever purpose the donor(s) and/or family stipulate.

Adopted by a unanimous vote of St. Andrew's Vestry, 15 December 2009.