Donation Acceptance Policy
DONATION ACCEPTANCE POLICY (Effective: March 2015)
Westborough Education Technology Fund, Inc. (“WETF”), accepts donations for several purposes, including, but not limited to:
- General Fund
- Unrestricted donations to the organization
- Project Funds
- Donations to fund a specific project with a set fundraising goal. Project funds may be initiated by a sponsor (individual educators, district administration, parents, community members, or WETF).
- Special Funds
- Donations to a program or fund established for a defined goal or purpose, which may or may not have specific short-term or long-term fundraising goals and timeframes. Examples of special funds include, but are not limited to: capital campaigns, scholarships, endowments, and underwriting for conferences and events
My making a donation to WETF, you understand and acknowledge that:
- Donations to the general fund and other unrestricted donations will go into WETF’s general fund. These funds may be allocated or used by WETF at its discretion to further the mission of the organization.
- Donations to Project Funds or Special Funds will be allocated to those funds within the operating guidelines of WETF.
- Project Funds:
- Should a Project Fund fail to reach its goal, WETF may, at its discretion: (1) Extend the fundraising period; (2) Partially fund the project; (3) Allocate general funds to fully fund the project; or (4) Elect to not fund the project and transfer funds raised to the General Fund. WETF will notify the Project Sponsor of its actions and reasons.
- Should a Project Fund exceed its fundraising goal, WETF may, at its discretion: (1) Expand the project; or (2) Transfer surplus funds to the General Fund.
- Should a Project not utilize all of the funds raised, WETF may transfer surplus funds to the General Fund.
- Special Funds:
- Special Funds may or may not have a specific fundraising goal. Special Funds may exist for a specific period of time or be an on-going entity.
- Should a Special Fund fail to reach its fundraising goal or attain a sustainable level of on-going funds, WETF may, at its discretion: (1) Extend the fundraising period; (2) Modify the program to a reduced funding level; (3) Allocate general funds; (3) End the program and transfer funds raised to the General Fund.
- Should a Special Fund exceed its fundraising goal or its sustainable need, WETF may, at its discretion: (1) Expand the scope; or (2) Transfer surplus funds to the General Fund.
- Should a Project not utilize all of the funds raised or maintain a surplus over on-going needs, WETF may transfer surplus funds to the General Fund.