Gift Acceptance Policy

ARTICLE I: PURPOSE

The Open Accounts Receivable Collective Foundation (the “Foundation”) relies on contributions, grants, and sponsorships from individuals, corporations, and foundations to support its charitable, educational, and scientific mission. The Foundation welcomes such support, provided that each gift is consistent with the Foundation’s mission and does not compromise its independence, neutrality, or tax-exempt status.

This policy establishes the Foundation’s procedures for:

• Evaluating and accepting gifts, grants, and sponsorships

• Recognizing donors in a manner consistent with the Foundation’s neutral, community-governed posture

• Declining gifts that would compromise the Foundation’s mission, independence, or reputation

• Liquidating non-cash gifts and managing the Foundation’s charitable assets prudently

• Ensuring compliance with applicable tax law governing charitable contributions and corporate sponsorship acknowledgments.

ARTICLE II: SCOPE AND DEFINITIONS

Section 2.1. Scope

This policy applies to all gifts, grants, sponsorships, and other contributions offered to the Foundation, whether solicited or unsolicited, and whether offered by individuals, corporations, foundations, governmental entities, or other organizations.

Section 2.2. Definitions

For purposes of this policy:

• “Gift” means any voluntary transfer of cash, property, or services to the Foundation without the transferor receiving, or expecting to receive, anything of more than nominal value in return. “Gift” includes grants and sponsorships unless the context requires otherwise.

• “Sponsorship” means a gift from a corporation or other organization in exchange for acknowledgment of the sponsor’s support, without the sponsor receiving substantial return benefits within the meaning of Section 513(i) of the Internal Revenue Code.

• “Restricted gift” means a gift accompanied by a donor-imposed restriction on its use, such as a restriction limiting the gift to a specific program, activity, or purpose.

• “Unrestricted gift” means a gift that may be used by the Foundation for any purpose consistent with its mission.

• “Non-cash gift” means a gift of any property other than cash, including securities, real estate, cryptocurrency, tangible personal property, intellectual property, and in-kind goods. “Non-cash gift” does not include in-kind services.

• “In-kind services” means a contribution of professional or personal services, such as legal, accounting, design, or consulting services, provided to the Foundation without charge.

ARTICLE III: GIFTS THE FOUNDATION ACCEPTS

Section 3.1. Cash Gifts

The Foundation accepts cash gifts in the form of checks, electronic transfers, credit card payments, and other cash equivalents, made payable to the Foundation.

Section 3.2. Publicly Traded Securities

The Foundation accepts gifts of publicly traded securities. Such gifts will be valued at the mean of the high and low trading prices on the date of the gift, or as otherwise required by Treasury regulations.

Section 3.3. Other Non-Cash Gifts

The Foundation will consider, on a case-by-case basis, gifts of:

• Privately held stock or membership interests

• Real estate

• Cryptocurrency

• Tangible personal property, including office equipment and supplies

• Intellectual property, including software licenses, copyrights, and trademarks

• Other property of potential value to the Foundation.

Gifts of this nature require Board approval regardless of value. The Board will consider, among other factors, the Foundation’s ability to liquidate the gift under Section 5.3, any carrying costs or liabilities associated with the gift, any environmental or regulatory exposure, and the gift’s consistency with the Foundation’s mission and risk tolerance.

Section 3.4. In-Kind Services

The Foundation welcomes pro bono and volunteer services in support of its mission. In-kind services are not treated as tax-deductible gifts under Section 170 of the Internal Revenue Code, and the Foundation will not provide donors with acknowledgments characterizing services as deductible charitable contributions. Documented out-of-pocket expenses incurred by a service provider in the course of donated services may be reimbursed under the Foundation’s Volunteer and Expense Reimbursement Policy or, at the provider’s election, treated as a charitable contribution of the documented expense amount.

Section 3.5. Grants

The Foundation accepts grants from private foundations, corporate foundations, community foundations, and governmental entities, subject to this policy and to any grant-specific requirements that do not compromise the Foundation’s independence or tax-exempt status.

Section 3.6. Corporate Sponsorships

The Foundation accepts corporate sponsorships in support of specific programs, events, or general operations, subject to this policy and in particular to Article VII.

Section 3.7. Bequests and Planned Gifts

The Foundation accepts bequests, charitable remainder trusts, charitable lead trusts, and other planned gifts consistent with this policy. The Foundation encourages prospective planned-gift donors to consult their own legal and tax advisors and will not provide legal or tax advice to prospective donors.

ARTICLE IV: GIFTS THE FOUNDATION WILL NOT ACCEPT

The Foundation will decline any gift that:

• Is inconsistent with the Foundation’s charitable purposes, mission, or values

• Would jeopardize the Foundation’s tax-exempt status or its qualification as a public charity

• Creates an unacceptable legal, regulatory, reputational, or financial risk to the Foundation

• Carries conditions or restrictions that the Foundation cannot reasonably comply with, or that compromise the Foundation’s independence, neutrality, or editorial control

• Purports to direct the Foundation to develop, publish, or endorse specific software features, content, positions, or products not already on the Foundation’s publicly adopted roadmap or program plans

• Would constitute a quid pro quo arrangement in which the donor receives, or is understood to receive, something of more than nominal value in return

• Comes from a source that the Board determines, after evaluation under Article VI, would cause material reputational harm to the Foundation if accepted.

ARTICLE V: CASH AND NON-CASH GIFT HANDLING

Section 5.1. Cash Gift Handling

Cash gifts are deposited into the Foundation’s operating account upon receipt. The Treasurer is responsible for recording each gift in the Foundation’s donor records and ensuring that timely acknowledgment is issued in accordance with Article VIII.

Section 5.2. Restricted Gifts

The Foundation accepts restricted gifts only when the restriction is consistent with the Foundation’s existing mission, adopted programs, or publicly posted roadmap. Restricted gifts of $5,000 or more require Board approval before acceptance. The Treasurer is responsible for tracking restricted gifts separately and ensuring that the restricted funds are used only for their designated purposes.

The Foundation will not accept a gift conditioned on the development, publication, or endorsement of any specific product, feature, position, or content not already on the Foundation’s publicly adopted roadmap or program plans. The Foundation does not accept work-for-hire or bespoke-development gifts. Donors wishing to support the Foundation’s mission may contribute to existing programs or to general operations but may not commission specific deliverables.

Section 5.3. Liquidation of Non-Cash Gifts

As a matter of policy, the Foundation will liquidate every non-cash gift to cash as soon as reasonably practicable after acceptance, with a target of thirty (30) days. Where an asset remains unliquidated ninety (90) days after acceptance, the Treasurer will report the status to the Board with a liquidation plan, and retention beyond one hundred eighty (180) days requires specific Board authorization. Liquidation proceeds are deposited into the Foundation’s operating account and applied consistently with any applicable gift restriction.

This policy serves to:

• Avoid the administrative burden of managing non-cash assets

• Minimize the Foundation’s exposure to market volatility, carrying costs, and valuation disputes

• Ensure that the full value of each gift is promptly available to support the Foundation’s mission

• Simplify the Foundation’s financial reporting and annual audit.

The Foundation may, by specific Board action, elect to retain and use a non-cash gift (such as office equipment, software licenses, or intellectual property) rather than liquidate it, where the Board determines that retention serves the Foundation’s operations.

Section 5.4. Responsibility for Valuation

Donors are responsible for determining the fair market value of any non-cash gift for tax purposes, including any independent appraisal required by the Internal Revenue Service. The Foundation will acknowledge receipt of a non-cash gift with a general description of the property but will not assign a dollar value to the gift in the acknowledgment. The Treasurer will sign the donee acknowledgment on IRS Form 8283 where the information reported is accurate, will file IRS Form 8282 and furnish the donor copy for any covered property disposed of within three (3) years of receipt, and will file any other donee information returns required by law.

ARTICLE VI: GIFT EVALUATION AND APPROVAL

Section 6.1. Approval Authority

Gifts are evaluated and approved as follows:

• Unrestricted cash gifts under $10,000 may be accepted by the Treasurer without further approval.

• Unrestricted cash gifts of $10,000 or more require approval by the Chair and the Treasurer.

• Restricted gifts of $5,000 or more require Board approval.

• Restricted gifts under $5,000 may be accepted by the Treasurer only where the restriction maps directly to an existing program or fund. The Foundation may decline any restricted gift where the administrative cost of tracking the restriction is disproportionate to the value of the gift.

• Gifts of publicly traded securities are approved under the same thresholds as unrestricted cash gifts, measured by the value of the securities on the date of the gift.

• Any gift from a director, officer, or an entity affiliated with a director or officer is evaluated with the affected person recused, as provided in the Conflicts of Interest Policy.

• Any non-cash gift other than publicly traded securities requires Board approval.

• Any gift that raises a question under Article IV or Section 6.2 requires Board approval, regardless of amount.

Section 6.2. Evaluation Criteria

In evaluating any gift that requires approval under this policy, the reviewing officers or the Board will consider:

• Whether the gift is consistent with the Foundation’s mission, charitable purposes, and publicly adopted programs

• Whether the gift would compromise the Foundation’s independence, neutrality, or editorial control

• Whether the gift creates an actual or apparent quid pro quo arrangement

• Whether acceptance of the gift would create a reputational risk to the Foundation, considering the donor’s public conduct, regulatory history, and alignment with the Foundation’s values

• Whether the gift’s conditions, if any, can be reasonably complied with

• Whether the gift creates legal, regulatory, or financial liabilities exceeding its value

• Whether the Foundation can liquidate any non-cash component of the gift on reasonable terms

• Any other factor the reviewing officers or Board determine to be relevant.

Section 6.3. Declining a Gift

The Chair or the Treasurer may decline any gift on behalf of the Foundation. When a gift is declined, the Chair or Treasurer will inform the Board at the next regular meeting of the declination and the reasoning. A written record of each declination, including the donor’s identity, the gift offered, and the reason for declination, will be maintained by the Secretary.

Section 6.4. Reversal and Return of Gifts

The Foundation reserves the unilateral right to return a previously accepted gift if, after acceptance, the Board determines that:

• The donor has engaged in conduct that is materially inconsistent with the Foundation’s mission, values, or reputation

• Continued association with the donor would cause material reputational harm to the Foundation

• A material condition of the gift was misrepresented or has become impossible to satisfy

• Any other circumstance has arisen that, in the Board’s judgment, makes retention of the gift contrary to the Foundation’s interests.

Any such return requires Board approval, will be made only where permitted by applicable law, and will follow consultation with legal counsel. As an alternative to returning a gift, the Foundation may publicly disassociate from the donor while retaining the gift for its charitable purposes. Where a return is made, the Foundation will make reasonable efforts to return the gift’s liquidated value in cash, less any portion previously expended consistent with the gift’s original purpose.

ARTICLE VII: CORPORATE SPONSORSHIP

Section 7.1. Sponsorship Program

The Foundation operates a sponsorship program through which corporations and other organizations may support the Foundation’s mission in exchange for public acknowledgment. Sponsorship levels, benefits, and acknowledgments are established by the Board and published on the Foundation’s website on uniform terms available to all prospective sponsors.

Section 7.2. Recognition Terminology

All sponsor recognition tiers use the word “Sponsor” in the tier name, such as “Platinum Sponsor” or “Diamond Sponsor.” The Foundation does not use, and will not use in sponsor recognition, the words “Partner,” “Member,” “Affiliate,” “Ally,” or any similar term that implies a governance relationship, mutual endorsement, or shared control between the Foundation and the sponsor. The Board may establish new recognition tiers above existing tiers, but every such tier name will end in the word “Sponsor.”

Section 7.3. Permitted Acknowledgments

Sponsor acknowledgments will comply with the safe-harbor requirements of Treasury Regulation Section 1.513-4 for qualified sponsorship payments, and may include:

• The sponsor’s name, logo, and general contact information

• A neutral description of the sponsor’s business

• The sponsor’s website address and Internet address, displayed as a hyperlink but without endorsement language

• A statement that the sponsor supports the Foundation at a specific recognition tier

• Visibility of the sponsor’s name or logo on Foundation materials, events, and webpages consistent with the recognition tier.

Section 7.4. Prohibited Acknowledgments

Sponsor acknowledgments will not include:

• Qualitative or comparative language about the sponsor’s products or services

• Calls to action or inducements to purchase, sell, or use the sponsor’s products or services

• Price information or other indications of savings or value

• Endorsements of the sponsor’s products, services, or business by the Foundation

• Any other acknowledgment that would cause the sponsorship to be recharacterized as advertising under Section 513(i) of the Internal Revenue Code and the regulations thereunder.

Section 7.5. Sponsor Participation in Community Activities

Sponsors, like any other community participant, are welcome and encouraged to engage with the Foundation’s community activities, including participating in public discussions, suggesting features or initiatives, filing issues, joining working groups, and advocating for their perspectives through the Foundation’s normal community channels. The Foundation is community-governed and community-directed, and broad participation strengthens the community.

Sponsorship does not confer, and the Foundation will not provide:

• Any governance role, voting right, or seat on the Board of Directors

• Priority consideration of the sponsor’s input, suggestions, or advocacy over that of any other community participant

• Any private backchannel for influence not available to the general community

• Any right to review, preview, pre-approve, or edit Foundation publications, communications, or content before release

• Any requirement that Foundation content include favorable mention, reference, or endorsement of the sponsor

• Any ability to direct, commission, or dictate specific Foundation programs, features, content, or positions.

A sponsor’s voice in the Foundation’s community carries exactly the same weight as any other community participant’s voice, determined by the merit of the contribution and not by the size or existence of any financial support.

Section 7.6. Sponsorship Agreements

Each sponsorship will be documented by a written sponsorship agreement executed by both parties. The agreement will:

• Specify the sponsorship amount, term, and recognition tier

• Incorporate this policy by reference, or reproduce its material terms

• Affirm the Foundation’s sole editorial and governance authority

• Provide for the Foundation’s unilateral right to terminate the sponsorship and return any unexpended portion of the sponsorship payment under the circumstances described in Section 6.4

• Contain such other terms as the Foundation determines to be appropriate.

Section 7.7. Acceptance of Sponsorships

Sponsorships are subject to the approval authority set forth in Section 6.1 and to the evaluation criteria set forth in Section 6.2. Sponsorships that raise questions about the sponsor’s alignment with the Foundation’s mission, regulatory standing, or public reputation will be referred to the Board for evaluation.

ARTICLE VIII: DONOR ACKNOWLEDGMENT

Section 8.1. Written Acknowledgments

The Foundation will provide each donor with a written acknowledgment of the donor’s gift that complies with the contemporaneous written acknowledgment requirements of Section 170(f)(8) of the Internal Revenue Code for gifts of $250 or more. Acknowledgments will be issued within thirty (30) days of the Foundation’s receipt of the gift.

Section 8.2. Required Content

Acknowledgments will include:

• The Foundation’s name

• A description of the gift sufficient to identify it (for cash gifts, the amount received; for non-cash gifts, a description of the property without dollar valuation)

• A statement of whether the Foundation provided any goods or services in return for the gift and, if so, a description and good-faith estimate of their value

• For gifts of $250 or more, a statement confirming that no goods or services were provided in return for the gift, or describing any such goods or services as applicable.

Section 8.3. Recordkeeping

The Treasurer maintains records of all gifts received, acknowledgments issued, and restricted-gift balances. Records are maintained in accordance with the Foundation’s Document Retention and Destruction Policy.

ARTICLE IX: ANONYMOUS GIFTS

Section 9.1. Anonymous Gifts Below $5,000

The Foundation accepts anonymous gifts of less than $5,000 without requiring disclosure of the donor’s identity.

Section 9.2. Anonymous Gifts of $5,000 or More

For any anonymous gift of $5,000 or more, the donor’s identity must be disclosed in confidence to the Chair and the Treasurer, who will evaluate the gift under Article VI. The Board may be informed of the donor’s identity to the extent necessary to evaluate the gift or to discharge the Board’s oversight responsibilities. The Foundation will honor the donor’s request to remain publicly anonymous provided that acceptance of the gift does not otherwise conflict with this policy. Where an anonymous gift meets the major sponsor threshold in the Anti-Capture Policy, the Foundation will publicly disclose the existence and amount of the gift without identifying the donor, as provided in Article V of that policy.

Section 9.3. Declined Anonymous Gifts

The Foundation reserves the right to decline any anonymous gift whose donor identity cannot be verified or whose acceptance would be inconsistent with this policy.

ARTICLE X: POLICY ADMINISTRATION AND REVIEW

Section 10.1. Administration

The Treasurer is responsible for the day-to-day administration of this policy, including receipt, recording, and acknowledgment of gifts.

Section 10.2. Annual Review

This policy may be updated by the Board of Directors and will be reviewed at least annually. Substantive changes will be announced through the Foundation’s official channels and reflected in the dated version of this policy. The current version of this policy supersedes any prior version.

Section 10.3. Legal Advice to Donors

Nothing in this policy authorizes the Foundation to provide legal, tax, or financial advice to donors. The Foundation encourages prospective donors to consult their own legal, tax, and financial advisors regarding the tax consequences of contemplated gifts.