Gift Acceptance Policy

Date: September 12, 2023

• Overview

Florida’s Children First (FCF), established in accordance with the regulations of the State of Florida, actively welcomes and appreciates contributions that resonate with and enhance its mission. As Florida’s leading advocate for children’s rights, FCF collaborates with the broader community to champion the causes of children across the state. Through both immediate and planned contributions from individuals, businesses, and institutions, FCF strengthens its vision for a future where every child’s rights are prioritized. 

The guidelines in this policy apply to all donations made for any FCF operation, initiative, or service. The FCF Board of Directors will consider and decide on specific gifts based on their alignment with our mission and values.

• Legal and Ethical Considerations

1. While FCF offers guidance on making a gift, it does not provide financial, legal, or tax advice. FCF strongly recommends prospective donors consult with their own financial, legal, or tax professionals regarding their donations and any potential tax or legal implications. The onus of obtaining independent legal counsel for any contribution to FCF rests with the donor.
2. If necessary, FCF may seek legal counsel’s insights regarding gift acceptance. Circumstances where legal review is advisable include:
   1. Gifts comprising securities accompanied by stipulations or involving buy-sell agreements.
   2. Instruments designating FCF in a trustee role or necessitating FCF to undertake a fiduciary duty.
   3. Donations implying financial or other commitments for FCF.
   4. Transactions potentially characterized by conflicting interests.
   5. Gifts of assets that might be encumbered by environmental or other regulatory constraints.
3. FCF commits to ethical practices and will not offer compensation, be it through commissions or finders’ fees, to any external party for guiding a donation or a benefactor to the organization.
4. FCF refrains from engaging in negotiations that involve commissions or any other kind of financial benefit linked to the acceptance of gifts.
5. All donations are also aligned with other established FCF policies, inclusive of the ratified Conflict of Interest policies.

• Donor Engagement and Acknowledgment

1. FCF welcomes both unrestricted gifts and those intended for specific programs and initiatives. We will ensure that gifts align with our core objectives and mission. We refrain from accepting gifts that:
   1. Contradict FCF’s bylaws;
   2. Jeopardize FCF’s IRS 501(c)(3) not-for-profit status;
   3. Pose administrative challenges or costs disproportionate to their value;
   4. Lead to unfavorable implications for FCF; or
   5. Are misaligned with FCF’s primary mission.
2. The Executive Committee, alongside the Executive Director, will determine the suitability of potentially restrictive gifts.
3. Donors may dedicate their gifts in tribute to or in remembrance of someone. At the time of donation, the honoree’s details should be provided. If requested, a third-party can be notified of the gift without disclosing the amount.
4. FCF respects the donor’s wishes regarding gifts with specific purposes and the need for anonymity. For anonymous donations, donor details will be confined to necessary staff members.
5. The Donor Privacy Policy, ratified by the Board of Directors, will oversee the confidentiality of donor information.

• Guidelines for Gift Receipt

1. All charitable donations, irrespective of their form or intended use, must be addressed directly to FCF, using the official name, “Florida’s Children First” or may be addressed to Florida Youth SHINE, acting as a DBA for Florida’s Children First. Any gifts addressed to Florida Youth SHINE are managed and accounted for by their respective receiving chapter, if one is designated, or, if no chapter is designated, but the state-wide governing board.
2. Mail-delivered gifts will be recorded based on the postmark date, while in-person gifts will be recorded on the receipt date. Gifts through phone credit card transactions will be registered on the receiving date, while online transactions will be recorded on the transaction date.
3. For recognition, the total amount of gifts via credit card or online payments will be credited to donors. For accounting, the net amount after credit card processing fees will be documented.
4. Commitments in the form of pledges will be evaluated individually. The bookkeeper is responsible for billing pledge funds per donor request. Once billed, a list of Pledge Receivables is forwarded to the Executive Director on a monthly basis to be entered on the monthly Receivables Report.
5. Utilization of Grant Funds
   1. Grant funds directed to FCF must align with the stipulations set by the grant’s funding agreement.
   2. Before submitting a grant proposal, the author must ensure that FCF can adhere to the funding’s intended use.
6. Gift Documentation and Verification
   1. FCF will offer donors acknowledgment adhering to IRS requirements for any tangible assets gifted.
   2. Apart from cash gifts and public securities, FCF will not attribute any specific value to received donations.
7. Gift Assessment and Acceptance—There are two primary gift acceptance categories:
   1. Gifts Accepted Without Special Review; and
   2. Gifts Necessitating Prior Review 
8. Refusing Gifts—FCF might decline gifts under circumstances such as:
   1. The gift, while restricted, demands unavailable or insufficient resources or detracts from other organizational goals.
   2. The gift, although restricted, addresses a motive or program not central to FCF’s primary purposes.
   3. The gift could dilute resources or shift focus from other essential programs.
   4. The gift could harm FCF’s reputation or cause significant controversies, undermining the donation’s intent.

• Gifts Readily Approved

1. Monetary Gifts
   1. Monetary donations are welcomed in any form or amount, be it check, money order, credit card, or online.
   2. Checks and money orders should be addressed to “Florida’s Children First.”
   3. Under no conditions should payments be made to an individual representing FCF.
   4. Wire transfer details can be supplied by FCF upon request.
   5. To donate via credit card, the donor must specify card details, including type, number, expiration, and holder’s name. Such contributions can be made in writing, online, or telephonically.
2. Bank and Investment Accounts
   1. “Payable on Death” (POD) or “Transfer on Death” (TOD) accounts designate beneficiaries to inherit the balance post the account holder’s demise.
   2. Setting up such an account requires no legal alterations, incurs no fees, and entails simply filling out the beneficiary form with FCF’s financial details.
   3. Account owners retain total control of the assets and can revoke the beneficiary designation.
3. U.S. Savings Bonds
   1. While gifting U.S. Savings Bonds during one’s lifetime demands tax payment on interest earned, they are ideal for bequeathing to FCF since they accumulate “income in respect of a decedent.” This prevents the heirs from bearing any accumulated interest tax.
   2. Bond owners should consult their financial advisors regarding gifting savings bonds to FCF.
4. Tradeable Securities
   1. Such securities can be transferred electronically or physically with necessary endorsements.
      1. The donor should inform their broker about their intention to transfer shares to FCF.
      2. FCF staff can facilitate the transfer by liaising with the broker.
      3. Received securities will be promptly sold unless the FCF’s Finance Committee advises otherwise.
      4. Occasionally, securities might be subject to limitations due to laws or gift conditions. The Executive Committee will decide on the acceptance of such securities.
      5. The valuation and recording of securities will be done upon their deposit into FCF’s account.
5. IRA Philanthropic Transfers
   1. From December 18, 2015, the IRA Philanthropic Rollover provision was ratified, enabling taxpayers aged 70½ or older to redirect up to $100,000 yearly from their IRA or Roth IRA to charitable entities.
   2. The donated amount is exempted from the donor’s taxable income.
   3. While the transfer doesn’t avail a charitable tax deduction, it counts toward the donor’s obligatory minimum distribution.
   4. Each spouse, if married, can redirect up to $100,000 from their individual IRA annually.
6. Contributions in Kind
   1. In-kind gifts pertain to the donation of tangible goods or services for FCF’s use.
   2. Acceptance is contingent on the item’s relevance to FCF’s mission or its potential financial benefit. FCF might opt not to accept certain in-kind donations.
   3. FCF doesn’t undertake the collection or transportation of in-kind donations.
7. Legacy Gifts
   1. FCF is honored to be listed as a beneficiary in wills or trusts. The designation can be:
      1. Sole beneficiary;
      2. Recipient of a specified estate percentage;
      3. Recipient of the estate’s residue or a part thereof post fulfilling other specifications;
      4. Receiver of a designated dollar amount; or
      5. A contingent beneficiary.
   2. Bequests can be directed:
      1. For FCF’s general purposes (unrestricted bequest) or
      2. To support a specific initiative (restricted bequest).
   3. Suggested Wording:
      1. Unrestricted Legacy: “I bequeath to Florida’s Children First, a nonprofit organization currently located at [FCF’s address], the amount of $____ or ___% of my residual estate or the property detailed herein for its general purposes.”
8. Beneficiary Nominations
   1. FCF can be named as the beneficiary of trusts, life insurances, annuities, or retirement plans.
   2. FCF can be a primary or secondary beneficiary.
   3. The appropriate forms can be procured from the asset or policy administrator.
   4. A specific amount or percentage can be designated to FCF.
   5. Alternatively, assets can be posthumously redirected to a charitable remainder trust.
9. Charitable Remainder Trusts
   1. Both charitable remainder unitrusts (CRUT) and charitable remainder annuity trusts (CRAT) designations benefiting FCF are accepted.
   2. FCF does not oversee trusts on behalf of donors.
10. Charitable Lead Trusts
    1. FCF welcomes being named as an income beneficiary of charitable lead trusts (CLT).
    2. Both charitable lead unitrusts (CLUT) and charitable lead annuity trusts (CLAT) are accepted by FCF.

• Pre-Reviewed Gift Categories

Gifts of certain types or in specific forms may need a prior review for acceptance. Here’s a list of these gifts and the criteria for review:

1. Personal Property
   1. The Executive Committee evaluates tangible personal property gifts, considering:
      1. Relevance to our mission.
      2. Marketability.
      3. Any restrictions tied to the item.
      4. Potential costs to us.
      5. Clear title or provenance.
2. Real Estate
   1. The Executive Committee reviews all real estate gifts. For properties other than personal residences, an appraisal is mandatory.
   2. We consider the following for real estate gifts:
      1. Usefulness to our goals.
      2. Market potential
      3. Associated conditions or restrictions.
      4. Carrying or maintenance costs.
      5. Any property damage or need for remediation.
      6. Gifts of real or personal properties are assessed for manageable costs on our part upon receiving.
3. Life Insurance
   1. We accept life insurance gifts if we are the named irrevocable owner and beneficiary.
   2. Donors are expected to cover any upcoming premium payments before their due date.
4. Other Gifts
   1. All gifts are reviewed to ensure alignment with our mission.
   2. Other gifts not specified here may be considered, but the Executive Committee will determine suitability using sound fiscal and legal judgment. This policy provides a framework for those decisions.

• Administrative Details

1. Donors handle their appraisal processes for tax purposes when gifting property or personal assets to us, including any related costs.
2. We may choose to get our appraisals at our expense.
3. We’ll confirm the receipt of tangible personal or real property gifts as per federal tax rules and provide any needed IRS documentation without assigning a value to the gift.
4. Donors manage their legal, accounting, appraisal, transport, and any other expenses linked to their donations.