IEG Foundation | ​DONATION POLICY

1. Purpose

1.1. This document outlines the policy of donations of IEG Foundation (later referred to as IEGF) which is intended for IEGF’s donors, prospective donors, and their advisers. Its primary aim is to assure that equitable treatment is provided to all IEGF’s donors and their gifts. The acceptance policy regarding gifts and hospitality intended to offer to individual members of IEGF or other subsidiaries of IEG Global shall not be the subject of this document. 

1.2. IEG Foundation actively encourages philanthropic support with charitable status which shall play the role of a legitimate and vital element in the fulfillment of IEGF’s mission. 

2. Background

2.1. The following members are the trustees: IEG Foundation Chairman and CEO and IEG Foundation Lead. The trustees shall be expected to decide whether the act of acceptance of an offered donation be executed, with strict references to (a) – the legal guidance of the Socialist Republic of Vietnam (SRVN) and (b) – the ethical principles of donation acceptance outlined in this document.  

2.1.a. Point 7 of the SRVN’s decree no. 30/2012/NĐ-CP about the organization and operation of social funds and charity funds (see appendix 1 for links) strictly prohibits actions conducted with the intention to insult the SRVN and its citizen values, interests and security, as well as (but not limited to) those relating to money laundering, terrorism funding. 

2.1.b. The IEGF’s ethical principles in donation acceptance can be found in more details in the Ethical Principles for Donation Acceptance section. The principles shall be binding upon and be taken into account by members of all levels of IEGF. 

2.2. All of IEGF’s communications with donors and prospective donors shall:

2.2.a. be professional, honest and legally compliant

2.2.b. respect the reputation and privacy of donors and prospective donors

2.2.c. be truthful about IEGF’s mission, vision, activities, and the intended use of potentially offered donation

2.2.d. respect and upheld the donor’s rights

2.3. Members of IEGF receiving the donations on behalf of IEGF shall: 

2.3.a. adhere strictly to this policy

2.3.b. adhere strictly to the Ethical Principles for Donation Acceptance

2.3.c. act with professionalism, integrity, equity and equality towards all and any donors 

3. Definitions and Scope

3.1. This document applies to all philanthropic donations that are (a) – offered by all donors and prospective donors and (b) – received by IEGF. 

3.2. Across this policy, the terms and abbreviations below shall be understood as following: 

  • IEG Global: Innovative Education Group, mother's company of IEG Foundation

  • IEG Foundation: IEG Foundation For Education Development Company Limited (Social Enterprise)

  • Gift/ Donation: philanthropic sources of any kind offered to IEGF with philanthropic intent for the benefit of IEGF

  • Bequest: gifts (either in the form of personal property or financial assets) that are planned by the donor to be transferred to a recipient (in this case - IEGF) after the donor's lifetime. 

  • Organization Donor: an organization who agrees to transfer gift/donation for IEGF with no intention or requirement of receiving any material benefit in exchange

  • Individual Donor: an individual who agrees to transfer gift/donation for IEGF with no intention or requirement of receiving any material benefit in exchange

  • Donation acceptance/ Gift acceptance: IEGF’s acceptance of gifts offered by the donor(s) after both parties (IEGF and the donor) agree upon the donor’s philanthropic intent and IEGF’s intended utilisation of the donor’s gift

3.3. Organization Donors and Individual Donors follow the respective donation schemes: 

IEGF Commitment for Organization Donors

Level 1

Below 10K

  • An appreciation letter (by post and via email) from IEGF

  • Logos of Sponsors featured on Landing Page of IEG Foundation

  • Quarterly report on funding and project performance

  • Invitation to private eventsAnnual Appreciation Events

  • 01 Copy of IGEF Quarterly Journal

Level 2

10K-20K

  • An appreciation letter (by post and via email) from IEGF

  • Logos of Sponsors featured on Landing Page of IEG Foundation

  • Quarterly report on funding and project performance

  • Invitation to private eventsAnnual Appreciation Events, Tickets to IEG Foundation talks and conferences

  • 02 Copies of IGEF Quarterly Journal

Level 3

From 20K

  • An appreciation letter (by post and via email) from IEGF

  • Logos of Sponsors featured on Landing Page of IEG Foundation

  • Quarterly report on funding and project performance

  • Invitation to private eventsAnnual Appreciation Events, Tickets to IEG Foundation talks and conferences

  • Involvement in special Joint-Projects

  • 03 Copies of IGEF Quarterly Journal

IEGF Commitment for Individual Donors

Level 1

Below 1K

  • An appreciation letter (by post and via email) from IEGF

  • Names of donors (if consented) on Hall of Honor

  • Quarterly report on funding and project performance

  • Invitation to private eventsTickets to IEG Foundation events (Talks, Workshops, Education Symposium)

Level 2

From 1K

  • An appreciation letter (by post and via email) from IEGF

  • Names of donors (if consented) on Hall of Honor

  • Quarterly report on funding and project performance

  • Invitation to private eventsAnnual Appreciation EventsTickets to IEG Foundation events (Talks, Workshops, Education Symposium)

  • 01 Copy of IGEF Quarterly Journal

4. Ethical Principles for Donation Acceptance

4.1. Donations are accepted by IEGF with strict adherence to its local finance and legal requirements.

4.2. Donations offered by any and every donor are considered by IEGF in accordance with IEGF’s values and mission. In accordance with this concern, IEGF will not accept donations that contradict IEG’s mission and/or values.

4.3. IEGF will decline a donation should at least one of the followings is identified through either its values or naming – in accordance with the ethical review of donations and grants conducted by IEG and/or external consultant/solicitor: 

4.3.a. The gift may have been obtained unethically or illegally (examples including but not limited to evasion of taxation; involvement of fraud or other criminal commitment; involvement of legal misconduct)

4.3.b. The gift may damage the reputation of IEGF

4.4. IEGF will decline donations that compromise the independence of IEG, including but not limited to donations that:

4.4.a. require IEG’s provision of data of staff members of all levels, students, students’ parents, and partners without their consent

4.4.b. restrict IEG’s academic and operational freedom

4.4.c. intend to influence the participation of IEG’s students and/or employment of staff members of all levels

4.4.d. give potential rise to unacceptable conflict or interests with internal parties and external partners 

4.5. Donations of all kinds are not refundable. 

5. Donor’s rights

During the process of considering the offer of a donation to IEGF, IEGF declares that all donors’ rights, as stated below, are respected and fulfilled.

5.1. To be informed of IEGF’s personnel (including, but not limited to, the governing board, individuals who seek and/or receive the donations on behalf of IEGF)

5.2. To be informed of IEGF’s projects

  • financing;

  • intended uses of the donations;

  • progress of executing the intended uses of the donations

5.3. To be acknowledged for your contributions and to have the rights to decide the publicity of this acknowledgment

5.4. To be ensured that your information is used confidentially to the extent provided by law

5.5. To feel free to ask questions and make suggestions when making a donation, as well as to receive prompt, truthful, forthright, and respectful answers

6. Gift agreement

 

6.1. Donations offered by donors are required to 

6.1.a. be in written form with a signature(s) of the individual(s) with the authority of offering gift

6.1.b. be in written form, following the template provided by IEGF at the time of offering the donation

6.1.c. be in written form that includes the following information:

  • details of the donation

  • details of any conditions attached to each gift

  • name(s) of the specific project in support (if restricted donation) 

  • agreement upon the respect of IEGF’s academic and operational freedom as outlined in the Ethical Principles for Donation Acceptance above

  • preferred form of recognition of gift in accordance with IEGF’s Ethical Principles for Donation Acceptance outlined above

6.2. IEGF reserves the rights to change or adjust the purpose of the donation to serve the current circumstances at the moment it is most needed. Such changes will be communicated to respective donors in written form.

 

7. Gift processing and acknowledgment

 

7.1. Donations offered to IEGF shall be processed and recorded confidentially by IEGF.

7.2. The donors reserve the rights to remain anonymous in public but shall disclose their full identity to IEGF including full name, phone number, email, National ID or Passport No. IEGF will store this information and only surrender in the event of authority investigation. 

7.3.  In line with the points outlined in this policy, IEGF actively encourages and can accept the following types of donations:

7.3.1. BANK TRANSFER

For Individual Donor in and outside of Vietnam, please make the donation transfer to IEG FOUNDATION ACCOUNT*

*Details of IEGF ACCOUNT are as follows:

Account name: CT TNHH QUY PHAT TRIEN GIAO DUC IEG  

Address:           128 NGUYEN THAI HOC DIEN BIEN BA DINH 

Account number:    0021000401539 (Vietcombank - Hanoi branch)

SWIFT Code: BFTVVNVX

For Organization Donor registered in Vietnam, please make the donation transfer to IEG FOUNDATION ACCOUNT*

*Details of IEGF ACCOUNT are as follows:

Account name: CT TNHH QUY PHAT TRIEN GIAO DUC IEG  

Address:           128 NGUYEN THAI HOC DIEN BIEN BA DINH 

Account number:    0021000401539 (Vietcombank - Hanoi branch)

SWIFT Code: BFTVVNVX

For Organization Donor registered outside Vietnam, please make the donation transfer to IEG FOUNDATION upon agreement.

7.3.2. CASH AT IEG GLOBAL'S CENTERS, ORGANIZED EVENTS BY IEG GLOBAL AND/OR IEGF
Only cash notes in Vietnam Dong is accepted.

 

7.4. In the case of bequest donations, the donor’s gift and pledge will be fully acknowledged and recognized, as well as be assured to be used for the intended purposes at the time of donation acceptance.

7.5. In the case of in-kind donations, we specify the tangible donations as follows.

7.5.1. Clothing for children in functional conditions

7.5.2. Books for children, teachers, and parents in functional conditions

7.5.3. Stationery in functional conditions

7.5.4. Regarding other types of tangible donation, please contact: foundation@ieg.vn

8. Legal and Financial advice

 

8.1. IEGF does not consult or provide legal advice and/or financial arranging services of any kind to donors. IEGF does not pay legal or fees attached to the preparation of a donor’s gift offer or documents in which IEGF is named as a beneficiary. Following this concern, donors and prospective donors should seek for legal consultancy and/or assistance on their own.