Article XI: Donations

Section 1. Gifts and Bequests

The Association welcomes gifts and bequests of numismatic material, numismatic literature, funds, securities and other properties to be used for the purposes set forth in its Federal Charter, such gifts and bequests to be made directly to the Association or to its Endowment Fund Trust. A donor may direct the Association or the trustee of said Endowment Fund Trust to allocate the objective of his or her gift or bequest to one or more of the following purposes: a) library; b) museum; c) numismatic education; d) general operating fund of the Association; or e) such additional purpose or purposes as shall be authorized from time to time by a majority vote of the Board of Governors of the Association in conformity with its Federal Charter.


Section 2. Recognition

Any donor of a gift or bequest of a value specified in the Policy Manual shall receive recognition by having his or her name published in The Numismatist, except that any such gift shall be published as anonymous at the donor's request.


Section 3. Record of Gifts

The Executive Director shall keep a permanent record of all gifts and bequests and issue receipts therefor to the donor or his or her estate at the time such gift or bequest is received, and inform the Board of Governors of all such gifts and bequests in his or her monthly report.


Section 4. Non-Cash Gifts

A gift of any material that the Association does not desire to keep for its museum, library or educational purposes may be sold and the proceeds thereof used for the purpose for which said gift was made, or if no purpose was designated, for such purpose as the Association determines is in the best interests of the mission and purpose of the Association.