The Society’s classification as a US 501(c)(3) organization allows individuals or corporations to make contributions that may provide a tax advantage to the donor, particularly in the United States. ISA sections, most of which are classified as 501(c)(3) organizations (or equivalent outside of the United States), may also be eligible to receive contributions; however, this policy specifically addresses charitable contributions to the Society.

Any asset may be donated to the Society, although the financial and legal consequences to ISA are complex for assets other than cash or marketable securities. Donations may be made directly to the Society in a number of forms, including as an ordinary gift, as beneficiary under a trust, as a bequest under a will, as a charitable remainder trust. The financial benefits of any of these methods to both ISA and the donor should be reviewed with an independent financial advisor.

Unrestricted donations are preferred. However, if restrictions are requested by the donor, they should allow reasonable flexibility. Examples would be directing a donation to the Standards or General Education Funds identified within the ISA Foundation (see below). Scholarships established by means of a charitable gift must be administered by ISA with the donor having no control over distribution of the funds.

The Finance Committee has oversight responsibility for management of all charitable donations to ISA, under the guidance of the Society Treasurer.

ISA Foundation

In 2001, the ISA Executive Board directed that a structure be established to accumulate and invest assets from interested parties, with the earnings from these investments to be used to fund scholarships, specific Society Awards, and other approved activities. The Foundation is a segregated group of internal accounts within the Society and is not a separate legal entity. Consistent with any applicable laws and accounting practices, assets may be categorized as unrestricted, temporarily restricted, or permanently restricted, as directed by the donor(s). An accounting of the funds held in the ISA Foundation accounts is to be provided annually.

Solicitation of Donations

All requests for donations intended to be made by or on behalf of ISA to another organization, except for donations by ISA sections in their own name, must be submitted to the Executive Board for approval.