SALT LAKE CITY FOUNDATION DONATION POLICY:

1. Salt Lake City Foundation (the Foundation) accepts donations from individuals and entities that support Salt Lake City Corporation (the City) programs and services provided to the public. The Foundation’s President shall evaluate whether to accept a proposed donation based on the provisions of the Articles of Incorporation and By-Laws as well as pertinent city policies and procedures. The Foundation’s President shall have discretion to determine whether to accept or decline a proposed donation. The intent is to help donors reach their intended goals while at the same time taking action consistent with the mission, goals, plans, resources, and limitations of the Foundation as a whole.
2. A person or a business who wishes to make a donation is encouraged to:
   • Contact the recipient city department to discuss the proposed donation;
   • Discuss the process for review and acceptance of a donation by the Foundation.
3. A donation may be used for any public purpose, subject to the provisions of this chapter and any applicable donation agreement between a donor, the Foundation, and the City. If it becomes impossible or impractical to administer the donation in accordance with the wishes of the donor, an alternate purpose, which most closely aligns with the donor’s intent and is consistent with the terms of any applicable donation agreement, will be determined by the Foundation’s President.
4. The Board of Trustees, in consultation with the City’s finance department, is authorized to establish policies and procedures related to donations that are consistent with this chapter.

DONATIONS OF MONEY, CASH EQUIVALENTS, NEGOTIABLE SECURITIES, REAL PROPERTY AND NONMONETARY DONATIONS:

1. Donations of money and/or a negotiable security may be accepted by the Foundation in consultation with the City’s finance department and the Foundation’s banking institution. A donation of a negotiable security may be accepted when in the judgment of the Foundation’s President, in consultation with the City’s finance department, the proposed donation is in accordance with applicable law and the proposed donation is either:
   • Not subject to conditions or specifications; or
   • Subject to conditions or specifications approved pursuant to applicable provisions of this chapter.
   • Certain fees may be assessed and billed to the donor based on the Foundation’s banking institution’s fee schedule.
2. A negotiable security may be held or sold at a marketable rate and the proceeds of such sale used consistent with any donor conditions or specifications and, if there are no such conditions or specifications, in accordance with any other applicable provisions of this chapter.
3. A donation of money or proceeds of the sale of a negotiable security shall be delivered to the City’s finance department.
4. The Foundation does not accept cash donations.
5. The Foundation does not accept real property donations.
6. The Foundation does not accept nonmonetary donations.

DONATION AGREEMENT:

1. The Foundation shall not accept a donation of money or a negotiable security having a value of one-hundred thousand dollars ($100,000) or more unless the donor enters into a donation agreement. The Foundation also has the discretion to require the execution of a donation agreement between the donor and the Foundation before accepting a donation of money, or a negotiable security having a value of less than one-hundred thousand dollars ($100,000). Any donation agreement cannot take effect unless it is first approved by the Foundation’s President and either the city attorney or the city attorney’s designee.
2. The Foundation may enter into a donation agreement with a donor that provides a framework under which the donor may make, under the agreement, multiple donations to the Foundation over a specified period of time. Such agreement does not need to identify the total number of donations to be made and does not need to identify each donation with specificity. However, the parameters and the framework the Foundation and the donor will use to identify and approve each separate donation must be set out in the agreement. Any agreement providing for multiple donations over a specified period of time cannot take effect unless it is first approved by the Foundation’s President and either the city attorney or the city attorney’s designee.
3. The Foundation’s President, city attorney, and finance department director, or their respective designees, with cause specified in writing, may jointly waive any of the requirements of this section with respect to a particular donation.

DONATION ACKNOWLEDGMENT:

When required by applicable law or internal revenue service regulations, the Foundation shall provide a letter to each donor that formally acknowledges the donation. The letter must include a statement that because the Foundation is subject to the provisions of the government records access and management act, the Foundation cannot guarantee anonymity of a donor.

TAX LIABILITY:

The Foundation shall make no representation or guarantee as to the tax implications of any donation made to the Foundation. Each donor is responsible for documenting the value of the donation for tax purposes.

REPORTS TO THE BOARD OF TRUSTEES

Annually, after the close of the fiscal year, the Foundation’s President or a designee shall provide a report to the Board of Trustees regarding donations received during the fiscal year.

CONFLICTS OF LAW:

If any provision of this chapter conflicts with a provision of an applicable state or federal law or regulation, such law or regulation shall control.

Approved as to form:

Jaysen Oldroyd, Senior City Attorney