The Philadelphia Outward Bound School (POBS) solicits and accepts gifts for purposes that will help the organization further and fulfill its mission to change lives through challenge and discovery.

The Philadelphia Outward Bound School will not accept gifts that:

  • would result in POBS violating its corporate charter,
  • would result in POBS losing its status as an IRS 501(c)(3) not-for-profit organization
  • are too difficult or too expensive to administer in relation to their value
  • would result in any unacceptable consequences for POBS
  • are for purposes outside POBS’s mission.

The Executive Committee of the Board of Trustees will make the determination on any questionable gifts.

Acknowledgment and Anonymity

The Philadelphia Outward Bound School will provide acknowledgments to donors meeting IRS substantiation requirements for property received by the charity as a gift. However, except for gifts of cash and publicly traded securities, no value shall be ascribed to any receipt or other form of substantiation of a gift received by POBS.

The Philadelphia Outward Bound School will respect the intent of the donor relating to gifts for restricted purposes and those relating to the desire to remain anonymous. With respect to anonymous gifts, POBS will restrict information about the donor to only those staff members with a need to know.

Gifts Generally Accepted Without Review

  • Cash. Cash gifts are acceptable in any form, including by check, money order, credit card, or on-line.
  • Marketable Securities. Marketable securities may be transferred electronically to an account maintained at one or more brokerage firms or delivered physically with the transferor's endorsement or signed stock power (with appropriate signature guarantees) attached.
  • Bequests and Beneficiary Designations under Revocable Trusts, Life Insurance Policies, Commercial Annuities and Retirement Plans. Donors are encouraged to make bequests to the Philadelphia Outward Bound School under their wills, and to name POBS as the beneficiary under trusts, life insurance policies, commercial annuities, and retirement plans.
  • Charitable Remainder Trusts. POBS will accept designation as a remainder beneficiary of charitable remainder trusts.
  • Charitable Lead Trusts. POBS will accept designation as an income beneficiary of charitable lead trusts.

Gifts Accepted Subject to Prior Review

  • Tangible Personal Property. The Executive Committee shall review and determine whether to accept any gifts of tangible personal property in light of the following considerations: does the property further the organization’s mission? Is the property marketable? Are there any unacceptable restrictions imposed on the property? Are there any carrying costs for the property for which the organization may be responsible? Is the title/provenance of the property clear?
  • Life Insurance. The Philadelphia Outward Bound School will accept gifts of life insurance where POBS is named as both beneficiary and irrevocable owner of the insurance policy.
  • Real Estate. All gifts of real estate are subject to review by the Executive Committee. Prior to acceptance of any gift of real estate other than a personal residence, POBS shall require an initial environmental review by a qualified environmental firm.
  • Restricted gifts. The donor has imposed restrictions on how or when a gift may be used.

Endowed and Scholarship Funds

  • An endowed fund or scholarship fund at POBS is a special reserve of money whose principal is held in perpetuity with restrictions on the use of the earnings generated by the investment. The restrictions may be as general as for use in “paying operating expenses” to providing scholarships for POBS expeditions.
  • Named, endowed funds will be listed in the POBS Annual Report each year in order to encourage additional gifts to the fund.
  • The Board of Trustees shall set a minimum amount to establish new restricted endowment funds and decide when the principal and/or the interest from such a fund is to be used. Based on 2020 costs, this target is $50,000 for an annual distribution to support one student on one course per year. Until endowments reach this goal, additional gifts may be made to supplement scholarship distributions.
  • POBS urges all prospective donors to seek the assistance of personal legal and financial advisors in matters relating to their gifts, including the resulting tax and estate planning consequences.

(Note: this is a summary. The full Gift Acceptance Policy is available upon request.)