9. FUNDRAISING
In order to coordinate general fundraising activities within the school community, any fundraising project involving a general solicitation of the patronage, must have prior approval of the Board. Student-led fundraising projects must have the prior approval of the Head or his/her designee. 10.GRANT PROPOSALS All grant applications, whether initiated by faculty or administrative staff, must be approved by the Head of School under blanket approval by the Board of Trustees. Any grant in excess of $5,000 that requires the School to obligate funds over and above what the grant proposal provides must be approved by the Board of Trustees or its Executive Committee. 11.PROPERTY ACQUISITION AND CAMPUS EXPANSION The Board will maintain a campus master plan and empower the Executive Committee to act on acquisition of property. 12.PLANNED GIVING POLICY The purpose of the Planned Giving Program of Madison-Ridgeland Academy shall be to encourage, solicit, and recognize bequests, gifts of life insurance, and gifts created by life income agreements for all purposes consistent with the objectives of the school. This program shall be designed to supplement and enhance all other fund development programs of the school by: a. Offering donors the opportunity for life income gifts which will enable them to retain the income from their capital. b. Offering donors the opportunity to make a larger gift during their lifetime than could be made without income retention. c. Offering donors the opportunity to provide income for life for a survivor. d. Encouraging estate planning and the preparation of wills which can provide for outright bequests, annuity for life income provisions for other beneficiaries, and additions to agreements and trusts which qualify for deduction or exemption under existing tax laws. e. Offering donors the opportunity to establish a permanent memorial in one’s own name or for another. Enabling Statement It shall be the policy of the school to offer through the Planned Giving Program an opportunity for donors to make gifts in the following forms: a. Gifts by will b. Gifts of a remainder interest — including the charitable gift annuity; deferred payment charitable gift annuity; charitable remainder unitrust; charitable remainder annuity trust; pooled income fund; and the gift of one’s personal residence or farm with retained life estate c. Other gifts — including life insurance policies; charitable lead (income) trusts, revocable trusts, and gifts of an undivided interest in property
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