In order to comply with the regulations of the Internal Revenue Code regarding 501(c)(3) and protect the Ann Arbor Amateur Hockey Assocations’s status as a tax-exempt organization, the organizations policy regarding contributions and gifts shall be as follows:
(1) No contributions or gifts may be solicited or received by or on behalf of the organization without prior approval of its Board of Directors;
(2) All contributions or gifts shall be used solely in furtherance of the charitable purposes of the organization. No contributions or gifts may be solicited, received or used for the benefit of any individual or team;
(3) No contributions or non-cash gift of intangible property shall be accepted without the prior approval of the Board of Directors; and
(4) Written confirmation of the cash value of the contribution or gift net of the value of goods or services, if any, which have been rendered in return shall be provided.
This Policy was approved by the Board of Directors on August 18, 2009 and is adopted effective immediately.