The Black Fives Foundation (“BFF”) is dependent upon the generosity of public and private donations in order to pursue our mission. We are exceedingly grateful to those who share our passion and sacrificially partner alongside us (“Donors”). As such, BFF desires to adhere to the highest ethical standards, committing to honor donor intent as well as honor the public interest entrusted to us as a 501(c)(3).
Subsequently, in order to protect the trust placed upon us by the public as a tax-exempt corporation, we must strictly adhere to a policy that does not allow for refunds of donations, except under very special circumstances as outlined below.
1) Violation of Gift Agreement
When a donation exceeding $50,000 is given, BFF may engage with the Donor through a written Gift Agreement. The purpose of the Agreement is to document how BFF intends to utilize the gift. Such an Agreement will allow the Donor to approve or modify the intended use of funds before they are utilized. Once signed by the Donor, a refund cannot be considered unless it is determined that BFF has violated the terms of the Agreement.
2) Failure to Honor Donor Intent
When making a donation, if the Donor requests in writing how they specifically wish their donation to be utilized (e.g., research, artifact acquisition, exhibitions, scholarships, commemorative markers, administrative costs, etc.), BFF will make every effort to honor their request and utilize their donation in a fashion consistent with their wishes. A refund may be considered if BFF fails to honor the written intent of the Donor. BFF will only consider refunding a donation if such a request is made within ninety (90) days of the original donation during the calendar year in which the donation was made, unless otherwise agreed upon in writing, provided the Donor has not claimed a tax deduction from their donation (proof of tax return may be required).
In order to fulfill the responsibility granted to the Black Fives Foundation by the public as a tax-exempt corporation, donation refund requests for any other reason cannot be considered.