Gift Acceptance Policy

Effective February 15, 2021

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Food Bank of Alaska accepts and solicits philanthropic gifts to further and fulfill its mission. These policies and guidelines govern the practices of engaging communities in philanthropic support in a way that protects our donors, staff, and the organization itself. The policy ensures that gift acceptance aligns with the highest ethical standards in fundraising.

General Scope

These policies guide the organization, its CEO, staff, and Board in determining whether and how gifts will be received by Food Bank of Alaska and how they will be used to further its mission. The intent is to ensure that gifts are in the best interests of both Food Bank of Alaska and the donor, without obligating Food Bank of Alaska beyond operational and financial reason.

Exceptions to these policies apply to donated food and transportation.

Types of Gifts

1. Cash and Payment Methods: Food Bank of Alaska accepts cash, checks, money orders, electronic payments, and credit card gifts.

2. Marketable Securities: Food Bank of Alaska accepts publicly traded stocks and bonds, which will be sold upon transfer, with value based on the average market price on the sale date.

3. IRA Donations: Food Bank of Alaska accepts donations from IRAs. Donors should consult financial advisors for potential tax benefits.

4. Donor-Advised Funds: Gifts from donor-advised funds are treated as grants and not charitable contributions. Food Bank of Alaska does not provide tax receipts for these donations.

5. Real Property: Gifts of real property must be readily saleable. The donor must agree to allow Food Bank of Alaska to sell unless used for a related purpose. The Board must review and approve real property gifts, which will be appraised.

6. Tangible Personal Property: Gifts of tangible personal property must be saleable unless used for a related purpose. These gifts must be appraised and reviewed by the Board and possibly legal counsel.

7. Life Insurance: Food Bank of Alaska accepts life insurance policy donations where it is the beneficiary and irrevocable owner. Donors must cover any future premium payments.

8. Bequests and Beneficiary Designations: Food Bank of Alaska encourages donors to make bequests and to name Food Bank of Alaska as the beneficiary of trusts, annuities, and retirement plans.

9. Endowment Funds: Food Bank of Alaska accepts gifts for its Endowment Fund, which are not restricted to specific programs.

Restrictions on Gifts

Food Bank of Alaska will not accept gifts that:

• Violate its corporate charter
• Risk its 501(c)(3) status
• Are too costly to administer relative to their value
• Present unacceptable consequences for Food Bank of Alaska
• Are for purposes outside Food Bank of Alaska’s mission

Decisions on restrictive gifts will be made by Food Bank of Alaska’s development department and Board Finance committee.

General Gift Criteria

The development department will consider:

• Charitable intent and any gift restrictions
• The permanency of the gift
• Projected costs of managing the gift
• Potential for the gift to jeopardize Food Bank of Alaska’s status or reputation

Right of Refusal

Food Bank of Alaska reserves the right to refuse any gift that is not in its best interest.

Conflict of Interest

Food Bank of Alaska ensures that donor interests come before its own. Donors should seek independent advice on the tax and estate planning implications of their gifts. Food Bank of Alaska will not accept donations from entities whose core activities conflict with its mission.

Food Bank of Alaska follows the Model Standards of Practice and Donor Bill of Rights as endorsed by relevant philanthropic organizations.

Use of Gifts

• Unrestricted Gifts: These gifts support the general operating budget unless otherwise directed by the Board.
• Restricted Gifts: Food Bank of Alaska prefers general gifts, as they allow for flexibility in responding to changing needs.
• Endowed Funds: Principal remains intact in perpetuity, with only earnings being used. Written documentation of donor restrictions is required.
• Anonymous Gifts: Food Bank of Alaska accepts anonymous gifts. Staff will know the donor's identity, but anonymity can be requested for public recognition.
• Pledges: Pledges are promises to give over time, outlined in an agreement. The payment schedule generally does not exceed three years, and schedules longer than that will be reviewed.

Authority to Accept Gifts

The CEO or Chief Philanthropy Officer has authority to solicit and accept non-cash gifts. Gifts requiring additional review will be referred to the Executive Committee.

Gift Acceptance

Food Bank of Alaska reserves the right to decline any gift and to determine how it will be credited or recognized. Gifts must meet certain conditions before acceptance.

• No commissions or finder’s fees will be paid for directing gifts to Food Bank of Alaska.
• Donors are responsible for obtaining appraisals for tax purposes.
• Food Bank of Alaska may seek independent appraisals for certain gifts at its own expense.
• Donors are encouraged to consult with legal or tax advisors.
• Food Bank of Alaska may return or refund gifts in rare cases.

Use of Legal Counsel

Food Bank of Alaska will seek legal counsel in cases involving complex gifts such as stock transfers, real estate, or those that present a conflict of interest.

Confidentiality

All donor information will be kept strictly confidential. Donors giving $1,000+ annually will be listed in the Annual Report unless they request anonymity.