Tales 'N' Trails Museum Endowment/Bequest Policy
The North Texas Society of History & Culture reserves the right to determine how a gift will be credited and/or recognized, as well as the right to decline any financial commitment, gift or bequest. The Executive Director of the Tales 'N' Trails Museum and the Board of Directors have the authority to solicit and/or accept gifts on behalf of the Museum. The solicitation and/or acceptance of gifts on behalf of the Museum shall follow all guidelines listed.
Unrestricted gifts shall be encouraged, unless (1) the donor indicates that he/she is willing to make a restricted gift only, or (2) the option of a restricted gift will otherwise significantly increase the chances of obtaining a gift from a donor.
Donors and their advisors are encouraged to use language that would permit application of the gift to a more general purpose if, in the opinion of the Board of Directors, the designated purpose is no longer feasible.
All receipts from unrestricted bequests, annuities, or charitable trusts shall become a part of the general endowment, unless the Board of Directors determines that a particular unrestricted gift of the type enumerated in this paragraph should be deposited in a different account.
The Museum will pay no commissions or finder's fees as consideration for directing a gift to the Museum. Donors are responsible for obtaining their own appraisals for tax purposes of property being given to the Museum, and for any fees or other expenses relating to such appraisals.
Tales 'N' Trails Museum will acknowledge receipt of gifts in accordance with IRS requirements and will sign any IRS form or other document necessary for the donor to obtain a tax deduction for such gifts, so long as such acknowledgment does not entail valuing the gift.
Prospective donors shall be responsible for their own legal, accounting, appraisal, transportation, and other fees related to the gift, and are strongly encouraged in all cases to consult with their own independent legal and/or tax advisors about proposed gifts. No representative of the North Texas Society of History and Culture shall provide legal or tax advice to any donor or prospective donor.
Donors may request anonymity. All requests by donors for anonymity shall be honored, except to the extent that the Museum is legally required to disclose information regarding the donor, nature, and the amount of their gift.
The Executive Director and/or the Board President is authorized to enter into planned gift agreements on behalf of the Museum, and to execute any and all documents necessary or appropriate to consummate such agreements.
Unrestricted gifts shall be encouraged, unless (1) the donor indicates that he/she is willing to make a restricted gift only, or (2) the option of a restricted gift will otherwise significantly increase the chances of obtaining a gift from a donor.
Donors and their advisors are encouraged to use language that would permit application of the gift to a more general purpose if, in the opinion of the Board of Directors, the designated purpose is no longer feasible.
All receipts from unrestricted bequests, annuities, or charitable trusts shall become a part of the general endowment, unless the Board of Directors determines that a particular unrestricted gift of the type enumerated in this paragraph should be deposited in a different account.
The Museum will pay no commissions or finder's fees as consideration for directing a gift to the Museum. Donors are responsible for obtaining their own appraisals for tax purposes of property being given to the Museum, and for any fees or other expenses relating to such appraisals.
Tales 'N' Trails Museum will acknowledge receipt of gifts in accordance with IRS requirements and will sign any IRS form or other document necessary for the donor to obtain a tax deduction for such gifts, so long as such acknowledgment does not entail valuing the gift.
Prospective donors shall be responsible for their own legal, accounting, appraisal, transportation, and other fees related to the gift, and are strongly encouraged in all cases to consult with their own independent legal and/or tax advisors about proposed gifts. No representative of the North Texas Society of History and Culture shall provide legal or tax advice to any donor or prospective donor.
Donors may request anonymity. All requests by donors for anonymity shall be honored, except to the extent that the Museum is legally required to disclose information regarding the donor, nature, and the amount of their gift.
The Executive Director and/or the Board President is authorized to enter into planned gift agreements on behalf of the Museum, and to execute any and all documents necessary or appropriate to consummate such agreements.