Page 21 - AYO Governance Manual Draft

GIFTS POLICY

Policy
From time to time members of the EC may receive gifts from donors, sponsors or other parties as part
of their role for AYO. These gifts may be significant or minor in nature.
 In receiving such gifts, consideration should be given to how these would be viewed externally.
 The Chairman should be advised of all gifts received. If the Chairman is the recipient, he must
advise the EC.
 Gifts over $150 must be listed in the Interest Register, maintained by the Secretary and possibly
disclosed in the Financial Statements.

Minor Gifts (value <$150)
Unless the minor gifts were frequent and numerous, it is unlikely that disclosure would be required in
the financial statements, or Interest Register.

Substantial Gifts (value >$150)
Additional consideration should be given by the receiver and Chairman as to whether or not it is
appropriate that the substantial gift is retained by the recipient e.g. whether offence could be taken if
the donor found the gift had been subsequently disposed of, or whether the gift should be dealt with
for the benefit of AYO, such as raffling/auctioning the gift off as a fundraiser.

Gifts received by the charity, Trustees or senior management for a specific purpose:
Where a gift or donation is received for a specific purpose from a donor, no matter what the dollar
value, the amount and terms must be disclosed to the EC.

Any such gift should be listed in the Interest Register and the gift should be used for the purpose
donated. Every effort should be made to ensure the conditions are complied with or a least a suitable
alternative is put in place.