DONOR PRIVACY GUIDELINES
All information concerning donors or perspective donors, including their names, addresses and telephone numbers, the names of their beneficiaries, the amount of their gift, etc., shall be kept strictly confidential by Pearl Buck Center, its staff, and volunteers, unless permission is obtained from donors to release such information.
A DONOR BILL OF RIGHTS GUIDELINES
Pearl Buck Center has adopted “A Donors Bill of Rights”, in action and philosophy to demonstrate a commitment to protecting our donors interests and gifts.
In 1993, AFP, the American Association of Fundraising Counsel (now the Giving Institute: Leading Consultants to Non-Profits), the Association for Healthcare Philanthropy (AHP) and the Council for Advancement and Support of Education (CASE) developed A Donor Bill of Rights so that donors and prospective donors could have full confidence in the nonprofits they support. Since then, thousands of organizations have adopted A Donor Bill of Rights.
Advancing A Donor Bill of Rights can be accom¬plished easily by:
- Incorporating it in board orientation and board training sessions
- Printing a copy on the back of your organi¬zation’s letterhead
- Posting it in a prominent location on your website
- Including a copy in your media or public relations packet
- Featuring it in our newsletter or magazine
DONATION OF STOCKS AND SECURITIES
Securities, which are traded on the New York or American Stock Exchanges, or other readily marketable securities, shall be accepted and sold upon receipt unless otherwise restricted or otherwise directed by the Board or Executive Director.
When a donor contributes stocks, bonds or other securities, they not only receive a charitable deduction for their full fair market value, but also avoid the tax on the capital gain from long-term appreciation (over 12 months). Generally, this arrangement is better than selling the appreciated securities and giving the proceeds.
It takes 3 – 5 working days for stocks to be electronically transferred from one brokerage to another. The donation is made at the date of delivery of the stock, not the day the donor requested the sale.
How to Donate Stocks or Bonds:
The donor contacts the Resource Development Director at Pearl Buck Center, and indicates they are interested in donating the sale of stocks, and expresses any restrictions.
A Securities Donation Instruction sheet will be sent to the donor. On this form, the donor will list the account holder name and address, quantity of shares, type and purchase date, and their stock broker’s contact information.
The donor will contact their stock broker and indicate that they want to transfer XX stocks “for the benefit of Pearl Buck Center Incorporated, account number 68103337, to Wedbush Securities, attention: Paul Rowe.” The stock will be electronically transferred, sold and cash will be transferred into Pearl Buck Center’s account. Wedbush will notify Pearl Buck Center with information about the stock donation.
Pearl Buck Center will provide the donor with a receipt that reflects their cash donation, which is tax-exempt to the extent allowable by law.
OPTIONAL: If the donor wants to donate actual stock certificates, they will need to contact the Resource Development Director at Pearl Buck Center for additional paperwork.
GIFT ACCEPTANCE GUIDELINES
To provide a framework for the types and forms of gifts that will provide maximum
benefit both to the donor and to Pearl Buck Center.
This overview addresses both current and planned gifts. The goal is to encourage support for Pearl Buck Center without encumbering Pearl Buck Center with gifts that may generate costs or liabilities in excess of the benefit provided, or that are restricted in a manner not consistent with the purpose, goals or policies of the organization.
- Gifts in the form of cash and checks shall be accepted regardless of amount unless there is a question as to whether the donor has sufficient title to the assets or is competent to legally transfer the funds as a gift to Pearl Buck Center.
- All Checks must be made payable to Pearl Buck Center Incorporated and shall in no event be made payable to an employee, agent or volunteer for credit of Pearl Buck Center.
Publicly Traded Securities:
- Securities, which are traded on the New York or American Stock Exchanges, or other readily marketable securities, shall be accepted and sold upon receipt unless otherwise restricted or otherwise directed by the Board or Executive Director. (See Donation of Stocks and Security Policy and Instruction Sheet)
Closely Held Securities:
- Non-publicly traded securities may be accepted only after approval of the Executive Director and Controller.
- No commitments shall be made for disposition of such securities prior to completion of the gift.
- No gift of real estate shall be accepted without prior written approval of the Board of Directors.
- No gift of real estate shall be accepted without first being appraised by an independent party acceptable to Pearl Buck Center who shall have no business or other relationship with the donor or Pearl Buck Center. If appropriate to the property as determined by the Executive Director, a Level I Environmental Site assessment shall be performed by a site assessment firm. A third party environmental agency acceptable to Pearl Buck Center or PBC attorney, will evaluate the assessment and provide the information to the Board for acceptance. All such costs would be borne by donor unless waived by the Executive Director.
- A follow-up Level II Site Assessment may be required based on the information from the Level I assessment. Clean up of contamination shall be completed prior to the acceptance of the gift property, except in rare cases as determined by the Board of Directors. All such costs shall be borne by donor unless waived by the Executive Director.
Tangible Personal Property:
- No personal property shall be accepted unless the Executive Director determines that the property can be disposed of quickly or useful for the organization. No personal property shall be accepted that obligates Pearl Buck Center to ownership in perpetuity. No perishable property or property which will require special facilities or security to properly safeguard will be accepted without prior approval of the Executive Director or other members of the Executive Team.
- Property valued at $5,000+ will be independently appraised and appropriate IRS forms completed. For tax deduction purposes, the donor must obtain a written appraisal for inclusion on his/her tax form. Pearl Buck Center does not determine the value of donated personal property.
- The gift types include Bequests, Life Insurance, Annuities, Retirement Plan Beneficiary Designation, Irrevocable or Revocable Trusts, Life Estates, Charitable Remainder Annuity and Unitrusts. The Executive Director and Chief Operating Officer will review all planned gifts.
- Gift types can be funded with cash, marketable securities, closely held stock, real estate, notes, mortgages and contracts and miscellaneous tangible personal property. The funding source for a planned gift will be reviewed according to the policies for outright gifts of the same type.
- Donors are encouraged to complete a Bequest Intention Agreement. This alerts Pearl Buck Center the donor’s intention to make an estate gift through a provision of their will, revocable trust or other transfer upon their death.(See Bequest Intention Agreement)
- To help measure planned support for future years donors are encouraged to complete a Bequest Confirmation form. No information whatsoever will be releases without the donors prior written approval. (See Bequest Confirmation Form)
- All gifts to Pearl Buck Center are sincerely appreciated and will be promptly acknowledged with a letter. The IRS rulings and requirements will be adhered to concerning gifts of $250+, as well as gifts of $75+ and providing goods or services to the donor.
- Stock gifts are valued at the median price on the day received.
- Bequest gifts of any amount may be received. Donors are encouraged to leave their charitable bequests by Will as unrestricted, rather than to specific program areas that may or may not be in existence in the future.
- In-kind donations of goods and services are accepted from competent professionals wishing to assist the organization with its on-going operation. Donors wishing to contribute tangible property such as appliances, clothing and similar items will be referred to programs in need of such gifts. Pearl Buck Center assigns no value to in-kind gifts. It is the responsibility of the donor to do so for tax purposes.