Gift Acceptance Policy

The mission of Suncoast Searchlight is to provide in-depth, accountability journalism to Sarasota, Manatee, and DeSoto counties. To support this mission, we welcome financial and in-kind contributions from individuals, foundations, corporations and other entities. This policy outlines the guidelines for accepting and managing such gifts.

Editorial Independence

Suncoast Searchlight retains full authority over its editorial content, ensuring that all news judgments are made independently of donor influence. Acceptance of financial support does not imply endorsement of donors, their products, services, or opinions.

We maintain a strict firewall between revenue sources and news coverage decisions to safeguard the integrity of our journalism.

Types of Acceptable Gifts

We accept the following types of gifts:

• Monetary Contributions: Cash, checks, credit card payments, direct ACH debits, and donor-advised funds (DAFs).
• Securities: Gifts of stock, which will be sold promptly upon receipt.
• Bequests and Estate Gifts: Estate contributions through wills or trusts, recorded when irrevocable.
• Matching Gifts: Contributions through workplace matching programs.
• In-Kind Donations: Goods or services that directly support our mission.

We may accept other non-standard gifts, such as real estate or tangible personal property, on a case-by-case basis, subject to board approval and due diligence to ensure alignment with our mission and manageable associated costs.

Gift Restrictions

We accept unrestricted gifts and gifts designated for specific purposes, provided they align with our mission and priorities. We will not accept gifts that:

• Compromise our editorial independence.
• Impose excessive administrative burdens.
• Create conflicts of interest or harm our reputation.
• Are restricted for purposes inconsistent with our mission.

Donor Transparency

We publicly disclose all donors contributing $5,000 or more annually. Anonymous gifts OF LESS THAN $5k? are accepted only for general support and with safeguards to ensure independence in their use.

Source-and-Gift-Specific Policies

• Donor-Advised Funds (DAFs) Suncoast Searchlight accepts donations from Donor-Advised Funds (DAFs), recognizing the DAF as the official donor, even if the relationship is with the individual contributor. To honor donor intentions, Suncoast Searchlight may place restrictions on DAF contributions to ensure alignment with the donor’s wishes. Donations over $10,000 are reviewed by the Finance Committee, supported by documentation from the donor and the DAF. Restricted donations follow our procedures for managing donor-restricted funds.

• Deferred Gifts Suncoast Searchlight accepts estate gifts through wills and trusts, recording them as gifts when they become irrevocable. If the gift is deferred to a future date, its present value may be recorded upon becoming irrevocable. Suggested Bequest Language: I hereby give, devise, and bequeath [dollar amount, percentage, or remainder] of my estate to the Community News Collaborative, dba Suncoast Searchlight, a nonprofit organization incorporated in Sarasota, Florida, with Federal Tax ID # 93-4147531, for its general purposes.

• Non-Standard Giving Sources:
  • Real Estate: Real estate gifts require Board approval, legal counsel input, and an independent appraisal. To be accepted, properties must:
    • Serve Suncoast Searchlight’s purposes or be marketable within six months.
    • Have minimal restrictions or liabilities (e.g., taxes, mortgages, insurance).
    • Be sound and suitable for resale.
    • The donor covers all associated costs (e.g., appraisals, legal fees, taxes)
      • Tangible Personal Property: Suncoast Searchlight only accepts items like jewelry, artwork, or collectibles if they can be quickly sold and do not impose long-term obligations. No perishable or special-needs items will be accepted without prior Board approval. Donors must provide appraisals or proof of value.
      • Specialized Gifts: Specialized donations (e.g., oil, gas, or mineral rights) are considered case by case.
      • Gifts In-Kind: Suncoast Searchlight accepts in-kind gifts that align with its mission and provide tangible benefits. Donors are responsible for valuing these gifts. Suncoast Searchlight may decline gifts that do not meet its goals and may refer them to other charities.
      • Private Foundations: Suncoast Searchlight accepts most foundation grants, even those tied to corporate earnings, provided:
        • The foundation operates independently from the corporation.
        • It has separate leadership and does not require Suncoast Searchlight endorsements or branding.
        • The partnership does not harm Suncoast Searchlight’s reputation.
      • Government Agencies: Suncoast Searchlight generally declines donations from government agencies, which are often subjects of our reporting. This policy safeguards our commitment to editorial independence and public trust. In rare circumstances (for example, pandemic-related relief funds), we may consider accepting this money so long as it’s approved by the Board, free of any conditions that could influence our journalism and publicly disclosed to ensure full transparency.

Review and Approval Process

All gifts are subject to review by Suncoast Searchlight’s leadership. Gifts exceeding $10,000 or involving non-standard assets require approval by the Board of Directors.

Acknowledgment and Reporting

We acknowledge all gifts promptly, providing appropriate documentation to donors. Donors will be recognized in our annual report unless, and in the case the donation falls under $5,000, they request anonymity.

Donor Rights

Suncoast Searchlight affirms our donors’ rights to be informed about our organization’s mission and the use of our resources; to know the identity of our governing board and expect prudent judgment; to ensure gifts are used as intended; to have their donation information handled with respect; to expect professional relationships with representatives; and to ask questions and receive truthful, prompt answers.

Policy Review

This policy will be reviewed periodically by Suncoast Searchlight’s Board of Directors to ensure alignment with our mission, ethical standards, and best practices in nonprofit governance.

For additional information or questions about this policy, please contact Suncoast Searchlight at emily@suncoastsearchlight.org.