LVA Policy for Donating Monies to a Charity or a Not-for-Profit Organization
This policy was established to provide direction to the Board when a donation request is received from a Board member, an LVA member, or a charity or not-for-profit organization.
When determining whether a donation may be made, the Board must first determine if the donation directly supports LVA’s stated mandate i.e., to “protect the natural environment, health and beauty of Lake Vernon”. The questions that need to be asked when a request is received are:
If the charitable donation request does meet one or both of these criteria, then the approval of a quorum of Board Members is required to approve the donation.
The risk of making a donation that does not support LVA’s mandate is that members may not approve of their membership fees going to another not-for-profit or charity that they did not choose. This risk exists no matter how worthy the charity/organization may be. Also, a donation from the LVA has no tax advantage, whereas a donation directly from a member to a charity is tax deductible.
There are so many worthwhile “charity events” in Huntsville. As a way of indirectly supporting these events (charities) and also keeping the membership informed of upcoming events in our community, charity and community events may be listed on the LVA website.
This Donation policy reflects LVA’s mandate “To prudently manage the finances of the Association”.
When determining whether a donation may be made, the Board must first determine if the donation directly supports LVA’s stated mandate i.e., to “protect the natural environment, health and beauty of Lake Vernon”. The questions that need to be asked when a request is received are:
- Does the donation support the monitoring and promotion of water quality?
- Does the donation support environmentally responsible land development?
If the charitable donation request does meet one or both of these criteria, then the approval of a quorum of Board Members is required to approve the donation.
The risk of making a donation that does not support LVA’s mandate is that members may not approve of their membership fees going to another not-for-profit or charity that they did not choose. This risk exists no matter how worthy the charity/organization may be. Also, a donation from the LVA has no tax advantage, whereas a donation directly from a member to a charity is tax deductible.
There are so many worthwhile “charity events” in Huntsville. As a way of indirectly supporting these events (charities) and also keeping the membership informed of upcoming events in our community, charity and community events may be listed on the LVA website.
This Donation policy reflects LVA’s mandate “To prudently manage the finances of the Association”.
