Gift Acceptance Policy

1. Principles

1.1The institution welcomes gifts that support its charitable purpose. It accepts a gift only where doing so is consistent with its mission, its independence, and the law. No gift buys a conclusion, a publication, or a position.

2. Gifts ordinarily accepted

• Unrestricted cash gifts
• Gifts restricted to a programme or area of research, on the terms in section 4
• Publicly traded securities, which are ordinarily sold on receipt
• In-kind gifts of services or equipment the institution can use

3. Gifts requiring review

3.1The following are accepted only after review by the officers and, where material, approval by the board:

• Real property, closely held securities, or other assets that are hard to value or sell
• Gifts from any source that is itself a subject of active research by the institution
• Gifts from foreign governments or entities they control
• Gifts large enough to make the institution materially dependent on one source

4. Restricted gifts

4.1A donor may restrict a gift to a purpose, such as an area of research or a grant programme. A donor may not restrict a gift to a conclusion, require approval of research before publication, choose the authors of a specific piece of work, or require the institution to take or refrain from a public position.

5. Gifts declined

• Gifts conditioned on research outcomes or editorial control
• Gifts that would jeopardize the institution's tax-exempt status
• Gifts the institution believes to derive from unlawful activity
• Gifts whose acceptance would require the institution to act against its policies

6. Acknowledgement and valuation

6.1The institution acknowledges gifts in writing as federal tax law requires. It does not appraise non-cash gifts for donors, who remain responsible for any valuation their own tax filings require.

7. Disclosure

7.1Material funding relationships are disclosed as set out in the Funding Transparency Policy. Donors who ask to remain anonymous may do so publicly, but the institution records every donor's identity and reports it where the law requires.