CLAF Donor Categories

Donors who have made significant contributions to the Capital Campaign and have provided support for library and cultural arts programs are permanently recognized on the Donor Recognition Monitor at the entrance to the Dove Library. Names will be placed in alphabetical order at one of the following giving levels and the specific dollar amount will not be noted.

President's Circle $1 Million and above
Director's Circle$300,000 - 999,999
Benefactor$100,000 - 299,999
Patron$50,000 - 99,999
Sponsor$10,000 - 49,999
Friend$5,000 - 9,999

Guidelines for Accepting, Recognizing & Counting Gifts

The donor program for the Carlsbad City Library and Arts Foundation (CLAF) will use the following guidelines, in coordination with the CLAF Investment Policy Statement.

GIFT ACCEPTANCE:Acceptance of all gifts must be approved by the Executive Board.CLAF retains the right to decline gifts that are not in keeping with its mission or that are not in its best interest to accept. Gifts of closely held stock and unimproved real estate cannot be accepted.Gifts of stock, gifts of real estate and gifts in any amount that are restricted by the donor must be approved and accepted by the Board of Trustees.All pledge agreements must be reviewed and approved by the Executive Board and signed by the Board President.

Gift Counting and Acknowledgement

Gifts already received by or pledged prior to adoption of this policy will be included in totals.Outright gifts in the form of cash, improved real estate and marketable securities will be credited at face value on the day the gift leaves the donor's control.Pledges to be fulfilled within three years or fewer that are documented by written agreements signed by both donor and the CLAF Board President will be credited at the full amount pledged. Bequests will be credited at the amount received.Future (revocable) bequest commitments from donors will be acknowledged and, if properly documented, will be credited and reported in a separate gift expectancy total. Irrevocable deferred gifts, if properly documented, will be credited at full current values. Gifts awarded by companies to match gifts of their employees will be acknowledged to both company and employee, and will be recognized as part of the individual employee's gift, unless the company requests separate recognition. Gifts-in-kind will be recognized in a separate gifts-in-kind list without amounts. Exceptions may be made for construction services and materials. According to IRS requirements, donors must provide qualified appraisals of personal property and real estate gifts of $5,000 or more.Unless a specific agreement is reached between the donor and the CLAF Board, every gift of stock will be sold at an appropriate time under advisement of investment advisor. The generosity of donors will be recognized according to the donor appreciation plan. All donors will receive prompt documentation of their gift for tax purposes, plus acknowledgement related to the gift level. Endowment Gifts.

Endowment funds will be managed in accordance with the CLAF Investment Policy Statement.

Approved by CLAF Board