At E J Inc. our mission is to protect wildlife and preserve natural habitats through our committed efforts. We aim to inspire and engage the public in the conservation of our precious wildlife resources.
Gift Acceptance Policy Earth Junkies Inc. ( E J inc.)
Purpose
The purpose of these fund and gift acceptance policies is to advance mission of support for E J Inc. By providing guidelines for negotiating and accepting various types of gifts for different types of funds, these policies are designed to serve the best interests of E J Inc.
Ethical Standards in Dealing with Donors
E J Inc.is committed to the highest ethical standards of philanthropy and development. In all transactions between potential donors and E J Inc. E J Inc. will aspire to provide accurate information and full disclosure of the benefits and liabilities that could influence a donor’s decision, including the irrevocability of a gift.
In addition, all donors will be strongly encouraged to discuss their gifts with their own financial and tax advisors before signing any gift agreement.
E J Inc recognizes the paramount role of donors and their gifts to E J Inc. in executing its charitable mission. Staff will recognize and acknowledge donors in appropriate ways, both publicly and privately. Donors reserve the freedom to determine the degree and type of recognition that they prefer and E J Inc. respects the confidentiality of donors who do not wish to be publicly recognized.
Authority to Accept Gifts
Acceptance by Officers & Designated Employees. Any of E J Inc’s officers or employees designated by the
Board of Directors may accept, for and on E J Inc’s behalf, any of the following:
• Cash
• Checks
• Marketable securities
All other gifts, including those listed below, will require review and approval by the Board of Directors. The following gifts require the Board’s review and approval:
• Closely-held and S corporation stock
• Partnership interests
• Accounts receivable (e.g., gifts of loans, notes, mortgages)
• Real property
• Gifts of intellectual property, mineral reserves, precious metals
• Artwork, coin collections, jewelry, etc.
• Life insurance and annuity policies
• Tangible personal property
Purpose of gifts
The purpose of each gift must fall within E J Inc’s charitable purposes.
E J Inc. may also decline a gift if it is not able to administer the terms of the gift in accordance with the donor’s wishes.
Costs of accepting and administering gifts
Generally, costs associated with the acceptance of a gift, such as the donor’s attorneys’ fees, accounting fees, and appraisal and escrow fees, are borne by the donor.
Subject to Board approval, E J Inc. may accept the following types of gifts:
Liquid assets
Cash
E J Inc accepts gifts of cash
• In currency of the United States;
• By checks made payable to E J Inc.; or
• By credit cards or wire transfer to E J Inc. account(s).
Real Estate.
Gifts of real property must be reviewed by the Executive Committee or Board of Director’s. Subject to the Board’s approval, E J Inc. may accept gifts of real property. In deciding whether to accept real property gifts E J Inc. will:
• Determine whether the real estate gift is an acceptable minimum value.
• Confirm that the donor has legal capacity and is entitled to convey the property through copies of deed, title report, etc., provided by donor.
• Determine whether, if property is encumbered by debt, the debt is of a level that will not unduly burden the E J Inc. or adversely affect the marketability of the property.
• Perform a market and financial analysis prior to acceptance of the gift to determine whether the gift is a financially sound acquisition.
• Evaluate whether any restrictions on the gift desired by donor will jeopardize the classification of such gift as charitable.
Appraisal. Each gift of real property giving rise to a charitable deduction of more than $5,000 must be appraised in accordance with federal tax law. The donor will be responsible for obtaining such appraisal.
Liquidation. E J Inc. will generally seek to sell real property as soon as possible and generally will not accept gifts that cannot be liquidated within two years.
Retirement Plans or IRA Accounts
Donors may make lifetime gifts of retirement assets or name E J inc. as the beneficiary of their plan. Retirement plans include, but are not limited to, Individual Retirement Accounts (IRA), 401(k), 403(b), and defined contribution plans.
Life Income Gifts
E J Inc. will work closely with donors to implement planned giving options that provide income to a donor or his/her designees, as well as financial benefit to E J Inc. (split interest gifts). Options include:
CHARITABLE REMAINDER TRUSTS (CRT). This trust makes payments to one or more beneficiaries for their lifetimes, or for a fixed term, or a combination of both. Assets are put into a trust, beneficiaries are paid, and when the trust term ends, the remainder in the trust passes to the Foundation for its charitable purposes. The donor names a Trustee to manage the trust and determines whether the payout will be fixed. Trusts can be set up during the donor’s lifetime or by will. E J Inc. encourages donors to consult their own legal counsel and tax advisors to create a charitable remainder trust. At the donor’s request, the Foundation will confer with his/her advisors to assist in establishing the trust from which it will ultimately benefit. E J Inc. will not serve as Trustee of the trust.
CHARITABLE LEAD TRUST (CLT). This trust first makes distributions to E J Inc. for a specified period, with the remainder reverting to the donor or another beneficiary at the end of the period. It may be set up during one’s lifetime or in a will. E J Inc. will work closely with the donor and/or his advisor to create the trust, but will not serve as Trustee.
LIFE ESTATE. A donor may wish to contribute a personal residence or farm to E J Inc. and retain the right to use the property until death. Upon the donor’s death, E J Inc. owns the entire interest in the property.
Real Property Donation Checklist
1. Exact legal name of donor and federal identification number.
2. Description of property (copy of deed).
3. Description of any buildings or other structures located on the land.
4. Boundary survey of property with location of all structures, easements, and encumbrances.
5. Information regarding existing zoning status.
6. Information on all ingress/egress for the property.
7. Description of prior use of the property.
8. Description of use of surrounding property, with specific disclosure of any storage tanks or potential environmental factors affecting the property.
9. Disclosure of any contemplated or anticipated condemnations, right-of-ways or other actions by municipalities that may affect the subject property.
10. Phase I environmental report on the property, including environmental report on any structures located on the real estate.
11. Evidence of title, such as title examination and report, title insurance commitment, or schedule describing any liens, encumbrances, or title matters affecting the property.
12. Copy of appraisal showing the fair market value of the property current within sixty days.
13. Disclosure of amount of existing real estate taxes, insurance premiums, and assessments attributable to the property.
14. Discussion with proposed donor regarding any special arrangements for donor’s fund or other sources to address ongoing expenses for taxes, insurance, assessments, maintenance, grass cutting, security, utilities, and similar items.
CODE OF ETHICS
It is essential to the proper conduct and operation of Earth Junkies Inc. (herein “E J Inc.”) that its board members, officers, and employees be independent and impartial and that their position not be used for private gain. Therefore, the Florida Legislature in Section 112.3251, Florida Statute (Fla. Stat.), requires that the law protect against any conflict of interest and establish standards for the conduct of E J Inc. board members, officers, and employees in situations where conflicts may exist. (2) It is hereby declared to be the policy of the state that no board member, officer, or employee shall have any interest, financial or otherwise, direct or indirect, or incur any obligation of any nature which is in substantial conflict with the proper discharge of his or her duties.
The following standards of conduct are enumerated in Chapter 112, Fla. Stat., and are required by Section 112.3251, Fla. Stat., to be observed by E J Inc. board members, officers, and employees.
1. Prohibition of Solicitation or Acceptance of Gifts.
No E J Inc. board member, officer, or employee shall solicit or accept anything of value to the recipient, including a gift, loan, reward, promise of future employment, favor, or service, based upon any understanding that the vote, official action, or judgment of the board member, officer, or employee would be influenced thereby.
2. Prohibition of Accepting Compensation Given to Influence a Vote.
No board member, officer, or employee shall accept any compensation, payment, or thing of value when the person knows, or, with reasonable care, should know that it was given to influence a vote or other action in which the board member, officer, or employee was expected to participate in his or her official capacity.
3. Salary and Expenses.
No board member or officer shall be prohibited from voting on a matter affecting his or her salary, expenses, or other compensation as a board member or officer, as provided by law.
4. Prohibition of Misuse of Position.
A board member, officer, or employee shall not corruptly use or attempt to use one’s official position or any property or resource which may be within one’s trust, or perform official duties, to secure a special privilege, benefit, or exemption.
5. Prohibition of Misuse of Privileged Information.
No board member, officer, or employee shall disclose or use information not available to members of the general public and gained by reason of one’s official position for one’s own personal gain or benefit or for the personal gain or benefit of any other person or business entity.
6. Employment Restrictions.
A person who has been elected to any E J Inc. board or office or who is employed by a E J Inc. may not personally represent another person or entity for compensation before the governing body of the E J Inc. of which he or she was a board member, officer, or employee for a period of two years after he or she vacates that office or employment position.
7. Prohibition of Employees Holding Office.
No person may be, at one time, both an employee and a board member at the same time.
8. Requirements to Abstain From Voting.
A board member or officer shall not vote in official capacity upon any measure which would affect his or her special private gain or loss, or which he or she knows would affect the special gain or any principal by whom the board member or officer is retained. When abstaining, the board member or officer, prior to the vote being taken, shall make every reasonable effort to disclose the nature of his or her interest as a public record in a memorandum filed with the person responsible for recording the minutes of the meeting, who shall incorporate the memorandum in the minutes. If it is not possible for the board member or officer to file a memorandum before the vote, the memorandum must be filed with the person responsible for recording the minutes of the meeting no later than 15 days after the vote.
9. Failure to Observe these Code of Ethics. Failure of a board member, officer, or employee to observe the Code of Ethics may result in the removal of that person from their position.
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