PERMANENT ENDOWMENT FUND GIFT ACCEPTANCY POLICY

OF THE FIRST UNITED METHODIST CHURCH OF VAN ALSTYNE , TEXAS

8 November 2009

1.   The PERMANENT ENDOWMENT FUND COMMITTEE (“Committee"), prior to acceptance, will review each endowment gift for compliance with this policy.

2.   The Committee will acknowledge each gift in a dated letter upon final acceptance. There will be no appraisal, acknowledgement of appraisal, or determination of value offered in the acknowledgment process. The donor has sole responsibility to the Internal Revenue Service for identifying the value of any non-cash gift.

3.   The Committee is responsible for determining if a gift is appropriate and acceptable for inclusion in the Permanent Endowment Fund (“Endowment Fund”). Furthermore, Designated Endowment Fund gifts will be accepted subject to the following:

a.   The gift must be sufficient to fund the designated item. To establish a designated sub-fund, the gift must have a minimum net value of $100,000.00. If the gift is to be used for a previously established designated sub-fund purpose, the gift can be of any amount.

b.   The Committee encourages prospective donors to use established purposes for their designated gifts.

c.   The Committee shall establish and maintain records, which will permanently reflect the donor, initial gift and purpose selected.

d. The designated use of endowment fund gifts must be made in keeping with the Endowment Fund Purpose and with the Social Principles of the United Methodist Church.

4. The Committee reserves the right to refuse any gift determined to be unacceptable because of value, marketability or any other reason deemed problematic to the First United Methodist Church of Van Alstyne, Texas.

5. All non-cash gifts may be subject to immediate liquidation.

6.   Gifts of stock, real estate, various kinds of securities, insurance products, automobiles, animals, jewelry, artworks, and other items of value must be unencumbered with liens, litigation, or any other potential liability for the First United Methodist Church of Van Alstyne, Texas, and given outright to the First United Methodist Church of Van Alstyne, Texas.

7.   Gifts and purposes, which are not in compliance with this policy, may be accepted by a unanimous vote of the Committee.