Family & Children’s Services, Inc. (FCS) solicits and accepts gifts for purposes that will help the organization further and fulfill its mission. FCS conducts fundraising activities in an ethical fiscally responsible manner by accurately describing the purpose for which solicitations are being made; spending funds for the purposes they were solicited, with the exception of reasonable costs for administration of the fundraising program; maintaining accounting segregation for restricted funds; and respecting donor confidentiality requests and ensuring that such donors’ names are not published in publicly available documents. FCS 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. The following policies and guidelines procedures govern acceptance of gifts made to FCS for the benefit of any of its operations, programs, or services.
PROCEDURES
A. Use of Legal Counsel
FCS will seek the advice of our internal or external legal counsel in matters relating to acceptance of gifts when appropriate. Review by counsel is recommended for:
1. Gifts of securities that are subject to restrictions or buy-sell agreements.
2. Documents naming FCS as trustee or requiring FCS to act in any fiduciary capacity.
3. Gifts requiring FCS to assume financial or other obligations.
4. Transactions with potential conflicts of interest.
5. Gifts of property which may be subject to environmental, tax, or other regulatory restrictions.
B. Restrictions on Gifts
FCS will not accept gifts that:
1. Would result in FCS violating its corporate charter.
2. Would result in FCS losing its status as an IRC § 501(c)(3) not-for-profit organization.
3. Are too difficult or too expensive to administer in relation to their value.
4. Would result in any unacceptable consequences for FCS.
5. Are for purposes outside FCS’ mission. Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the internal or external legal counsel, then brought to the FCS Board of Director’s Executive Committee, in consultation with the Chief Development Officer and President/CEO of FCS.
C. Gifts Generally Accepted Without Review
1. Cash – Cash gifts are acceptable in any form, including by check, money order, credit card, or online. Donors wishing to make a gift by credit card must provide the card type (e.g., Visa, MasterCard, Discover, American Express), card number, expiration date, and name of the card holder as it appears on the credit card or process it securely on our online donation site.
2. 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. All marketable securities will be sold promptly upon receipt unless otherwise directed by Family & Children’s Service, Inc. Chief Financial Officer and/or the Board Finance Committee. In some cases, marketable securities may be restricted, for example, by applicable securities laws or the terms of the proposed gift; in such instances, the decision whether to accept the restricted securities shall be made by the FCS Board of Director’s Executive Committee, in consultation with the Chief Finance Officer, the Chief Development Officer, and the President/CEO of FCS.
3. Bequests and Beneficiary Designations under Revocable Trusts, Life Insurance Policies, Commercial Annuities and Retirement Plans – Donors are encouraged to make bequests to Family & Children’s Service, Inc. (FCS) under their wills, and to name Family & Children’s Services, Inc. as the beneficiary under trusts, life insurance policies, commercial annuities, and retirement plans.
4. Charitable Remainder Trusts – Family & Children’s Services, Inc. (FCS) will accept designation as a remainder beneficiary of charitable remainder trusts.
5. Charitable Lead Trusts – Family & Children’s Services, Inc. (FCS) will accept designation as an income beneficiary of charitable lead trusts.
D. Gifts Accepted Subject to Prior Review
Certain forms of gifts or donated properties may be subject to review prior to acceptance. Examples of gifts subject to prior review include, but are not limited to:
1. Tangible Personal Property – FCS Board of Director’s Executive Committee, in consultation with the Chief Development Officer and President/CEO of FCS shall review and determine whether to accept any gifts of tangible personal property considering the following considerations:
a. Does the property further the organization’s mission? Is the property marketable?
b. Are there any unacceptable restrictions imposed on the property?
c. Are there any carrying costs for the property for which the organization may be responsible?
d. Is the title/provenance of the property clear?
2. Life Insurance – Family & Children’s Services, Inc. (FCS) will accept gifts of life insurance where Family & Children’s Services, Inc. is named as both beneficiary and irrevocable owner of the insurance policy. The donor must agree to pay, before due, any future premium payments owing on the policy.
3. Real Estate – All gifts of real estate are subject to review by the FCS Board of Director’s Executive Committee, in consultation with the Chief Development Officer and President/CEO of FCS. Prior to acceptance of any gift of real estate other than a personal residence, Family & Children’s Services, Inc. (FCS) shall require an initial environmental review by a qualified environmental firm. In the event that the initial review reveals a potential problem, the organization may retain a qualified environmental firm to conduct an environmental audit. Criteria for acceptance of gifts of real estate include:
a. Is the property useful for the organization’s purposes? Is the property readily marketable?
b. Are there covenants, conditions, restrictions, reservations, easements, encumbrances, or other limitations associated with the property?
c. Are there carrying costs (including insurance, property taxes, mortgages, notes, or the like) or maintenance expenses associated with the property?
d. Does the environmental review or audit reflect that the property is damaged or otherwise requires remediation?
All decisions to solicit and/or accept potentially controversial gifts will be made by the FCS Board of Director’s Executive Committee, in consultation with the Chief Development Officer and President/CEO of FCS in consultation with in-house or external legal counsel. The primary consideration will be the impact of the gift on the organization.