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Grants cover up to 20% of qualified redevelopment costs, and every donated dollar can mobilize an estimated four to five dollars of owner and lender investment in St. Louis housing. Donor capital is the smallest slice of each project and the decisive one. To understand the impact of your gift, read the economic case.
Mound City Fund has applied to the IRS for recognition as a Section 501(c)(3) tax-exempt organization; a determination is pending. Until our determination letter is issued, deductibility of contributions is not yet confirmed, and we encourage donors to consult their own tax advisors. The policy below governs every gift we receive.
1. Purpose
This policy governs the acceptance of charitable gifts by Mound City Fund (the "Fund") and the treatment of donor information. Its goals are to protect the Fund's mission and reputation, ensure gifts can be administered consistently with donor intent and applicable law, and give donors confidence that their generosity and their information are handled with care.
2. Tax Status Disclosure
Mound City Fund is a Missouri nonprofit corporation and has applied to the Internal Revenue Service for recognition of exemption under Section 501(c)(3) of the Internal Revenue Code. If recognition is granted, it is generally effective retroactively to the date of incorporation, which would make contributions received during the application period deductible to the extent allowed by law. Until a determination letter is issued, prospective donors should be aware that deductibility is not yet confirmed and should consult their own tax advisors. The Fund will update this disclosure upon receipt of its determination letter and will register and remain in good standing with the Missouri Attorney General as required for charitable solicitation.
3. Gifts the Fund Accepts
The Fund accepts the following without prior Board review: cash, checks, electronic transfers, credit and debit card gifts, and grants from donor-advised funds, foundations, and corporate giving programs. The following require review and approval by the Board or its designee before acceptance: publicly traded securities (which will ordinarily be sold promptly upon receipt), gifts of real estate (subject to title, environmental, and marketability due diligence), closely held business interests, tangible personal property, cryptocurrency, bequests naming the Fund, and any gift subject to restrictions or conditions. In-kind gifts of construction materials or professional services relevant to the Fund's grant program may be accepted where a bona fide program use exists and valuation responsibility remains with the donor.
4. Gifts the Fund Declines
The Fund reserves the right to decline any gift. It will decline gifts that: are conditioned on the selection of a specific grant recipient or otherwise attempt to direct charitable benefit to a designated individual; impose restrictions inconsistent with the Fund's mission, governing documents, or grant guidelines; would create unacceptable liability, carrying costs, or reputational risk; or arise from activities inconsistent with the Fund's values or applicable law. Restricted gifts consistent with the mission (for example, restricted to a particular neighborhood or program) are welcome, and the Fund will honor documented restrictions or return the gift if it cannot.
5. Acknowledgment and Use of Gifts
The Fund provides a written acknowledgment for every gift, including the statement required by federal law for gifts of $250 or more as to whether goods or services were provided in exchange. Unless a donor documents a restriction that the Fund accepts, gifts are unrestricted and will be applied where they best advance the mission, including grantmaking, program delivery costs, and reasonable administration. The Fund does not pay finder's fees or commissions for gifts and does not provide tax, legal, or financial advice to donors; donors are encouraged to consult independent advisors, particularly for non-cash and planned gifts.
6. Donor Privacy
The Fund does not sell, rent, trade, or share its donor list with any third party. Donor information is collected solely to process gifts, provide acknowledgments and receipts, comply with legal requirements, and communicate with donors about the Fund's work. Donors may opt out of communications at any time and may request anonymity in any public recognition, which the Fund will honor. Payment card information is processed through third-party payment processors and is not stored by the Fund. Donor records are accessible only to those directors, officers, staff, and professional advisors who need them to perform their duties. Requests to review or correct donor information may be directed to the Fund at the contact address on its website.
Adopted by the Board of Directors of Mound City Fund. This document is provided for general information; it is not legal, tax, or financial advice.