Gift Acceptance Policy
The Texas Technology Development Center (T3DC), organized under the laws of the State of Texas and having received approval by the Internal Revenue Service to operate as a not-for-profit 501(c)(3) in April of 2008, solicits and accepts gifts to support its mission:
to promote, support and sustain a community model for innovation-led economic development to develop and facilitate broad stakeholder participation in an innovation network, and to affect innovation in San Antonio through the delivery of direct technical assistance to entrepreneurs with high-growth potential
T3DC's success is directly attributable to our benefactors and community partners. The Foundation will accept all types of gifts which generally fall into the categories listed below. Other types of gifts will also be examined in terms of how the gift will help the Foundation fulfill its mission.
- Bequests
- Cash - in any form
- Charitable Gift Annuities
- Charitable Lead Trusts
- Charitable Remainder Trusts
- Corporate Matching Gifts
- Honorariums
- Land or Real Estate
- Memorials
- Oil, Gas and Mineral Interests
- Securities
- Real Estate
- Tangible Personal Property
Gifts which do not fall into these categories will be examined by the Foundation's Board of Directors. T3DC will seek the advice of legal counsel in matters relating to acceptance of non-cash gifts whenever it is deemed appropriate by the organization's management.
T3DC urges all prospective donors to seek the assistance of personal legal counsel and financial advisors relating to their gifts.
Other Gift Acceptance Guidelines:
- Bequests will be recorded at the time the gift becomes irrevocable.
- Cash is acceptable in any form.
- Checks should be made payable to The Texas Technology Development Center.
- Charitable gift annuities, charitable remainder trusts and charitable lead trusts will be reviewed by legal counsel prior to acceptance.
- T3DC can accept both publicly traded and closely held securities. Gifts will be reviewed for marketability, restrictions, and to avoid undesirable tax consequences.
- Real Estate, Oil, Mineral or Gas Interests, and Tangible Personal Property will be examined in light of the Foundation's mission; to see if the property is marketable; to check for undue restrictions of use, display, or sale; and, in terms of carrying costs. Final determination will be made by the T3DC Board of Directors.