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WARRIORS AND QUIET WATERS FOUNDATION,INC.GiftAcceptance Poliry

ARTICTE I - MISSION, PURPOSE

Section 1.0 - Organization. Warriors and QuietWaters Foundation,lnc. ("WQW") is anon-profit public benefit corporation organized under the laws of the State of Montana andis recognized as a tax-exempt organization under Section 501(c)(3) of the United StatesInternal Revenue Code. WQW encourages charitable support and other contributions toWQW to further its ability to fulfill its mission.

Section 1.1 - Mission. The mission of WQW is to help reintegrate traumatically combat-injured U.S. veterans and active service members from recent wars into society by buildinghope and resilience, facilitating camaraderie, and providing security and serenity throughfly fishing and other high quality therapeutic recreational mediums in southwest Montana.

Section 1.2 - Purpose. This policy is intended to inform and assist individuals,corporations, organizations, and other entities interested in contributing to WQW bysetting forth clear guidelines that shall govern the acceptance of gifts made to WQW for thebenefit of its programs and initiatives. While this policy is intended to be comprehensive, itis not exhaustive of every gift type, gift assets, or administrative circumstance.

ARTICLE II. GENERAL POLICIES

Section 2.0 - Acceptance Authority. It is within the express authority of the ExecutiveDirector and the Development Director, or similar positions ("Executive Staff') to acceptgifts of cash, cash equivalent and publicly traded stock in all instances. Except if otherwiseprovided in this policy, the Executive Director and Development Director (or similarposition) may also accept other types of gifts if the gift furthers the mission of WQW, doesnot create an unreasonable financial liability or unreasonable legal obligation for WQW,and is not restricted to a purpose or program outside of WQW's strategic plan.

Section 2.1 - Additional Approval. Where the Executive Staff perceives it does not havethe authority to accept a gift, or chooses to seek additional approval, acceptance authorityshall rest with the Executive Committee ("ExCom") of the Board of Directors.

Section 2.2 - Acceptance Requirements.

2.2.1 AII Gifts. Acceptance of all gifts shall require the following:. a determination that the gift furthers the mission of WQW;. a determination that the gift is not contrary to all applicable WQW

management policies including, but not limited to, this poliry and policies onconflicts of interest spending, investments, and endowments; and

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. a clear and documented understanding of the donor's intended purpose forthe gift (provided by or agreed to by the donor).

2.2.2 Non-Cash Gifts; Non-negotiable Securities.ln addition to the provisions ofSection 2.2.L, acceptance of non-cash gifts or gifts of non-negotiable securities[i.e. privately held stock), acceptance shall require the following:. a defined use for the gift or a plan to sell the asset within 6 months of receip!. a determination of all potential liabilities and obligations incurred by WQW if

said gift is accepted; and. if the gift is to be retained by WQW, all costs and other issues related to the

retention, maintenance, and operation (i.e. insurance, storage, etc.).

Section 2.3 - Declining Gifts. Gifts may be declined for any reason or no reason at all withor without explanation to the donor. Gifts shall not be accepted if acceptance in any wayundermines WQW's ability to fulfill its mission or is contrary to applicable laws orregulations. If a gift is declined, Executive Staff will notify the donor and his/her advisors(where appropriate) of the decision in a timely manner.

Section 2.4 - Receipting Substantiation, Documentation. All gifts accepted by WQWshall be acknowledged, receipted and substantiated in a timely manner and according toIRS rules and regulations, as well as the standards set forth in IRS Publication 561(Determining theValue of Donated Property) and IRS Publication 526 (CharitableC ontributions), as amended.

Additionally, the following documentation standards shall apply:. Pledges - Commitments of $10,000+ shall be in written form, signed (or otherwise

acknowledged) by the donor. Electronic communications from the donor thatclearly state (or confirm) the gift value and the donor's name shall suffice.

. Named Funds - Contributions to establish a named fund, whether or not anendowment, shall be documented via a Fund Agreement that states the source andvalue of the gift, describes the purpose of the fund, and is signed (or otherwiseacknowledged) by the donor.

Section 2.5 - Valuation of Gifts; Appraisals. Gift values shall be determined based uponthe date of the gift.

. Donor Purposes - For non-cash gifts, the donor shall bear the responsibility ofestablishing the value of the non-cash gift for purposes of the donor's records andtax repofting requirements through acceptable means including but not limited to,a qualified appraisal. WQW shall not establish nor substantiate the value of a non-cash gift for a donor or a donor's advisor.

. WQW Purposes - For WQW's recording or accounting purposes of non-cash gifts,WQW may rely upon the donor's valuation or may secure a valuation or qualified

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appraisal. WQW's valuation or appraisal shall be for WQW's purposes only and shallnot negate the donor's obligations under this section, Section 2.6, or applicable law.

Section 2,6 - Costs of Gifts, Responsibility and Allocation. Wherever possible, costsassociated with a gift and WQW's ownership/holding of the gift shall be the responsibilityof the donor. In all instances, it shall be the donor's responsibility to secure and pay forindependent legal counsel and a qualified appraisal when necessary. Any gift-related costincurred by WQW shall be netted out of the gift amount prior to applying the balance of thegift to its stated purpose.

Section 2.7 -Use of Professional Advisors, Legal Counsel. WQW may retain the servicesof third party professionals for matters relating to this policy whenever appropriate. Legalcounsel review is recommended, but not required, for:

. Real estate gifts;

. Closely held stock transfers that are subject to buy-sell agreements;

. Gifts that name the Foundation as Trustee;

. Gifts that involve a contract to which the Foundation is a party;

. Gifts that require the Foundation to assume an obligation; and

. Transactions with the appearance of conflict of interest.

ARTICLE III - ACCEPTED GIFTS; ACCEPTANCE CRITERIA

Section 3.0 - Types of Gifts. The following gifts are acceptable, subject to the describedcriteria:

3.0.1 Cash, checks, and cash equivalent - Cash is acceptable in any form, includingonline contributions. Checks shall be made payable to Warriors and QuietWaters Foundation, Inc., WQW, or other acceptable variation of theorganization's name and shall be personally delivered to the Executive Staff, toWQW's principal place of business, or to WQW's primary address for receivingmail. Should cash or checks be given to WQW in a manner other than thatdescribed above, every effort shall be made to immediately notify and deliver thegift to Executive Staff.

3.O.2 Securities - WQW may accept publicly traded securities via a professionallymanaged brokerage account. Electronic transfer of publicly traded securities isthe prefered method of contribution. As a general rule, all marketable securitieswill be sold upon receipt unless otherwise directed by the ExCom.

Closely held securities may be accepted by WQW with the approval of theExCom, but only after the review described in Section 2.2.2 and a determination

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that there are no restrictions or hindrances to sale and that said sale will notgenerate undesirable tax consequences for WQW.

3.0.3 Life insurance policies - Life insurance policies may be accepted by WQWunder the circumstances below:

. Paid up policies - Paid up policies may be accepted by WQW.

. Premium due policies - Life insurance requiring additional or ongoingpremium payments may be accepted if acceptance does not create a financialliability for WQW, the policy can be converted into cash, or the ExComapproves acceptance.

As a general rule,life insurance policies will be surrendered, or otherwiseconverted to cash, upon receipt unless otherwise directed by the ExCom. Paid uplife insurance policies may be accepted by WQW. Prior to transferring any lifeinsurance policy, WQW must be the named beneficiary of the policy.

3,0.4 Gifts-in-kind; Services - Gifts of tangible personal property, business propertyor inventory, services, and other forms of in-kind contributions may be acceptedby WQW if the gift asset or service meets the requirements of Section 2.2.1andSection 2.2.2. The ExCom shall approve any gift-in-kind that is significantlyvaluable, particularly important, or especially unique, or that creates a financialor legal obligation for WQW.

3.0.5 Bargain sales - WQW may enter into a bargain sale arrangement if the salefurthers WQW's mission and programs. All bargain sales require review andapproval by the ExCom, an independent appraisal, a defined use for the propertyor a plan to sell the property within 6 months of receipt, and a clear calculationof the costs associated with owning the property during the holding period.WQW should not enter into a bargain sale arrangement that results in WQWassuming a debt obligation.

3.0.6 Bequests; Gifts via Estates - WQW may accept gifts via an individual's will,living trust, testamentary trust or other estate plan subject to the applicableprovisions of this policy (i.e. Bequests of personal property are subject to Section3.0.4).

3,O.7 Beneficiary designations; RetirementAccounts - WQW may accept giftsmade to it through a beneficiary designation or contingent beneficiarydesignation (full or partial) of life insurance policies, retirement accounts, bankand savings accounts, investment accounts, and any other similar account.

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3.0.8 Real Estate - WQW may accept gifts of real estate including but not limited to,developed or undeveloped property, residential or commercial property,agricultural land, or vacant land. Real estate must be marketable or otherwiseuseful to WQW. Prior to acceptance, WQW shall undertake proper due diligenceincluding visual inspection, valuation or market analysis, environmental riskassessment, and title search, as well as a determination of carrying costs and thepotential for unrelated business income.

The preferred method of transfer is via outright title transfer but deferred giftsofreal estate, real estate in exchange for a charitable gift annuity, real estate heldin trust, and real estate subject to a life estate may also be considered foracceptance.

As a general rule, WQW will sell or otherwise dispose of real estate as soon aspracticable following transfer to WQW.

3.0.9 Charitable GiftAnnuities - Charitable gift annuities (CGAs) may be eithercurrent or deferred, for one or two annuitants, and may be subject to minimumgift amounts as the Board may establish from time to time [$10,000 is thestandard CGA minimum, however CGA's of $5,000 may be considered]. CGAsmay be funded with cash or readily marketable securities. CGAs funded withother assets shall be approved by the ExCom. CGAs may be issued by WQW, ifallowed, or by another entity for the benefit of WQW. For WQW-issued annuities,the maximum rate shall be that set by the American Council of Gift Annuities.WQW may offer reduced rates at its discretion.

3.0.10 Charitable Remainder Trusts; Charitable Lead Trusts - Gifts via charitabletrust may be accepted if WQW is named as the beneficiary, remainderman, orboth. WQWwill generally not serve as trustee unless WQW is the solebeneficiary or remainderman and unless the trust meets minimum values as theBoard may establish from time to time [$50,000 is the standard CRT minimum;$100,000 is the standard CLT minimuml.

ARTICLE IV - DONOR RECOGNITION

Section 4.0 - Recognition, Generally. All donors to or in support of WQW shall berecognized in a manner appropriate to the purpose of the gift and level of support.

Section 4.1- Donor Lists, Donor Rolls. In addition to any other public recognition, WQWmay recognize donors annually or more frequently, in a manner and form determined bythe Executive Staff. Any such recognition shall honor all requests for donor confidentiality.

Section 4.2 - Confidentiality. Donors may request in writing that their name remainconfidential and such requests shall be honored to the fullest extent of the law or as is

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practical. Gifts from donors wishing to remain confidential shall be listed as "Anonymous"in donor lists, donor rolls, and in other forms of public recognition.

ARTICLE V - APPTICATION, MODIFICATION

Section 5.0 - Application of Policy. This policy shall apply to all gifts offered to orreceived byWQW.

Section 5.1 - Modification, Amendment. This policy may be amended in whole or in partupon the affirmative vote of a majority of the voting members of the Board of Directors.

Approved bythe

Ane:(

Board orDirectors on L) lR / tS

Board Secretary

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