🏢 RAS TAFARI INC. – Official Gift Acceptance Policy (Adopted June 7, 2026)
765 E 154th St. South Holland, IL 60473 | (414) 909-3279 | selassiefest@gmail.com
📜 ARTICLE IX – DONOR ACKNOWLEDGMENT (Required for every gift)
Written acknowledgment must include:
• Name of the Corporation: RAS TAFARI INC.
• Date the contribution was received.
• Description of donated property (for in‑kind gifts).
• A statement regarding goods or services provided in exchange (or “no goods or services were provided”).
For contributions over $250, a contemporaneous written acknowledgment is required by IRS rules – even while tax-exempt status is pending. This protects both the donor and the Corporation.
📋 Gifts That May Be Accepted (Article IV)
Cash, checks, electronic transfers, grants, sponsorships, tangible personal property (books, educational materials, artworks, audio equipment, computers, cultural artifacts), real property (Board approval required), and securities.
🎯 Restricted Gifts (Article V)
Donors may designate gifts for specific programs: SelassieFest, Sound Champs, CHROMA, Youth Education, Scholarships, Historical Preservation, Educational Publications. Restrictions must align with our mission – Board may decline overly restrictive gifts.
🏷️ Naming Opportunities (Article XI)
The Board may establish naming opportunities for educational programs, exhibits, scholarships, archives, facilities, or events – consistent with our mission.
🔒 Gifts That Will Not Be Accepted (Article VII)
Generally, we do not accept gifts that: jeopardize tax‑exempt status, create excessive financial burden, expose us to unreasonable liability, require illegal or discriminatory conduct, or are conditioned upon political endorsements.
✍️ What You Can Say (compliance with pending 501(c)(3))
✅ “Ras Tafari Inc. has applied for 501(c)(3) status – it is pending.”
✅ “This is a community investment in a cultural festival.”
✅ “We offer sponsorship packages with brand recognition.”
✅ “Once tax‑exempt status is granted, early gifts may be eligible for retroactive deductibility – please consult your tax advisor.”
❌ Never say: “Your donation is tax‑deductible” or “We are a 501(c)(3) organization.”
Sample Acknowledgment Letter (per Article IX)
Date: [Date of acknowledgment]
RAS TAFARI INC.
765 E 154th St. South Holland, IL 60473
To [Donor Name]:
Thank you for your generous contribution received on [date]. This letter serves as the written acknowledgment required by IRS regulations.
Description of contribution: [cash / check / in‑kind item description].
No goods or services were provided in exchange for this contribution. [If goods/services provided: “In exchange, you received [description of goods or services with good faith estimate of value].”]
Ras Tafari Inc. has applied for recognition of exemption under Section 501(c)(3) of the Internal Revenue Code; that application is pending. Please consult your tax advisor regarding any potential deductibility.
Sincerely,
Secretary, RAS TAFARI INC.
This policy was adopted by the Board on June 7, 2026, and supersedes all prior oral or written statements.