Donation Policy

Date of Last Revision: 8 November 2025

1. Compliance Principles

1.1 Tax-Exempt Status and Eligibility
Losget Academy is a United States tax-exempt nonprofit organization recognized under Section 501(c)(3) of the Internal Revenue Code and is eligible to receive charitable contributions from donors worldwide.

1.2 U.S. Tax Deductibility
U.S. donors may claim a federal income-tax deduction for qualified contributions to a §501(c)(3) organization when IRS requirements are met (e.g., itemizing deductions and proper substantiation). See IRS Publication 526 and IRS Topic No. 506 for current rules and limits.

1.3 Non-U.S. Donors
Donors outside the United States should consult local tax authorities to determine whether contributions to a U.S. charity are deductible in their home jurisdictions.

1.4 Lawful Source

Losget Academy accepts funds only from lawful sources. Anonymous donations are not accepted; all contributors must provide verifiable personal or institutional identification for compliance and public disclosure purposes. 

1.5 Non-reciprocal Nature
In accordance with applicable laws, all donations are voluntary and without consideration. Neither Losget Academy nor any beneficiary may promise or provide any form of material return or advantage (with the sole exception of public acknowledgment).

1.6 Donation Currencies and USD Reporting
Accepted donation currencies vary by payment method:

• Donations made via PayPal are accepted in USD, EUR, GBP, CAD, AUD, and JPY and will be converted to U.S. dollars at the time of transfer.
  
  

• For direct bank transfers or checks, only United States Dollars (USD) are accepted.
  
  

All contributions are recorded in USD for IRS reporting purposes, in compliance with U.S. nonprofit regulations.

1.7 Cryptocurrency Exclusion
Losget Academy currently does not accept any cryptocurrency donations.

2. Naming and Disclosure

2.1 Donation Naming
Each donation shall be identified under the donor’s personal or institutional name, which will serve as its permanent standard reference in all allocation processes and historical records.

2.2 Immediate Disclosure
The donation amount, beneficiary or target, date, purpose, and actual allocation and use shall be publicly disclosed on the official website of Losget Academy in real time and permanently archived.

2.3 Publication Record
Every officially issued Art Ark 500 Program art book publication shall include, in its appendix, a record of all donations received up to the time of publication.

2.4 Musical Acknowledgment
Losget Academy customarily releases original songs that acknowledge every contributor within their content as a standing gesture of gratitude.

3. Designated Donations (Specified Beneficiaries)

3.1 Donors may choose to designate their contributions to a particular artist or project.

3.2 The designated beneficiary shall not promise or deliver any form of return benefit, whether direct or disguised, before or after the donation.

3.3 All designated donations shall still be received centrally by Losget Academy and then allocated and disclosed in accordance with the publicly announced or contractually agreed arrangements.

3.4 All designated donations shall be recorded, publicly disclosed, and acknowledged by Losget Academy through appropriate means.

4. Fund Allocation and Use

4.1 Default Allocation Ratio

Unless otherwise agreed in writing — including cases where funds are designated for a specific project (e.g., “museum construction”) — each donation shall be used as follows:

 (a) Eighty percent distributed evenly among all Master Members (designated donations excluded from this distribution);

 (b) Twenty percent retained by Losget Academy for project administration, promotion, and development. 

4.2 Timeline of Disbursement
The Academy shall complete fund allocation within fifteen business days after receipt, unless the distribution amount is minimal and the beneficiary has agreed to accumulate it until a practical threshold is reached.

4.3 Transaction Fees
Any bank or platform handling fees incurred during remittance or transfer shall be deducted directly from the payable amount by the financial intermediary.

4.4 Transparency
All allocation details and settlement records shall be openly published for review by both donors and beneficiaries at any time.

5. Artist-Specific Display

5.1 For donations designated to a particular artist, acknowledgment shall appear not only in the unified disclosure section of the official website but also permanently on that artist’s individual profile (or relevant thematic page) within the official site.

5.2 Such display shall not constitute commercial endorsement and must not carry promotional intent.

6. Recordkeeping and Public Disclosure

6.1 Permanent Registration
To ensure transparency and legal compliance, Losget Academy maintains a complete and permanent online record of every contribution received. Each entry shall publicly disclose the donor’s personal or institutional name, date of receipt, amount, designated beneficiary or target, stated purpose, and actual allocation and use of funds.

6.2 Real-Time Updates
This disclosure page is updated in real time and preserved permanently on the official website of Losget Academy.

6.3 No Return of Benefit
In accordance with applicable laws, Losget Academy does not provide any form of commercial return benefit to donors (other than public acknowledgment). No donor may exchange a contribution for product promotion, commercial exposure, or any form of material compensation.

6.4 Documentation and Recognition
Losget Academy shall, as both a matter of policy and appreciation:
 (a) Record and preserve all donor names and contribution details permanently via official platforms, including the Academy’s website;
 (b) Release original musical works in which contributing donors are acknowledged within the content as a gesture of gratitude;
 (c) Include a historical list of all donations received up to the publication date within the appendix of each Art Ark 500 Program art book publication, in chronological order of contribution.