Gift Policy

Non-Food Gift Acceptance Policy

This policy serves as a guideline to the members of Feeding America West Michigan, hereto referred to as “the food bank”, staff and Board involved with accepting gifts. This policy allows for flexibility at the discretion of the President and Chief Executive Officer (President and CEO).

To reach its mission, the food bank needs to work with a variety of donors and so will generally accept gifts from all donors within the parameters of this policy. However, if the President and CEO determines it is not in the best interest of the food bank to accept a particular gifts/he has the authority to decline a gift.

The food bank 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 govern acceptance of gifts made to the food bank for the benefit of any of its operations, programs or services.

Use of Legal Counsel: The food bank will seek the advice of 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 the food bank as trustee or requiring the food bank to act in any fiduciary capacity.
3. Gifts requiring the food bank to assume financial or other obligations.
4. Transactions with potential conflicts of interest.
5. Gifts of property which may be subject to environmental or other regulatory restrictions.

Restrictions on Gifts: The food bank will not accept gifts that would result in:

1. The food bank violating its corporate charter
2. The food bank losing its status as a 501c(3) nonprofit organization
3. Too difficult or too expensive administration in relation to their value
4. Any unacceptable consequences for the food bank
5. Are for purposes outside the mission of the food bank

Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Executive Committee of the Board of Trustees, in consultation with the President and CEO. If the President and CEO believes the food bank is unable to abide by the restrictions placed by the donor s/he will notify the donor as such and will attempt to find a resolution that allows the food bank to retain the gift. If no such resolution is found, the gift will be declined.

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, American Express), card number, expiration date and name of the card holder as it appears on the credit card.
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 the food bank’s 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 Finance Committee.
3. Bequests and Beneficiary Designations under Revocable Trusts, Life Insurance Policies, Commercial Annuities and Retirement Plans: Donors are encouraged to make bequests to the food bank under their wills, and to name the food bank as the beneficiary under trusts, life insurance policies, commercial annuities and retirement plans.
4. Charitable Remainder Trusts: The food bank will accept designation as a remainder beneficiary of charitable remainder trusts.
5. Charitable Lead Trusts: The food bank will accept designation as an income beneficiary of charitable lead trusts.

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: The Finance Committee shall review and determine whether to accept any gifts of tangible personal property in light of the following considerations:
   a. Does the property further the food bank’s mission?
   b. Is the property marketable?
   c. Are there any unacceptable restrictions imposed on the property?
   d. Are there any carrying costs for the property for which the food bank may be responsible?
   e. Is the title/provenance of the property clear?
2. Life Insurance: The food bank will accept gifts of life insurance where the food bank 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 Finance Committee. Prior to acceptance of any gift of real estate other than a personal residence, the food bank shall require an initial environmental review by a qualified environmental firm. In the event that the initial review reveals a potential problem, the food bank 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 food bank’s purposes?
   b. Is the property readily marketable?
   c. Are there covenants, conditions, restrictions, reservations, easements, encumbrances or other limitations associated with the property?
   d. Are there carrying costs (including insurance, property taxes, mortgages, notes, or the like) or maintenance expenses associated with the property?
   e. Does the environmental review or audit reflect that the property is damaged or otherwise requires remediation?

Additional note on the privacy of donors: The food bank will not share, sell, or trade our list of donors to any other organization for fundraising purposes.