Gift Policy

Gift Policy
Fitzwilliam Town Library
Donation and Gifts Policy
Reviewed and Approved August 7, 2017
The Board of Trustees of the Fitzwilliam Town Library recognizes the importance of charitable giving to the well-being and future of the Library. The purpose of this policy is to establish guidelines and procedures for receipt, management and disposition of funds or other properties received by the Library as gifts. At Town Meeting March 8, 1994 the citizens of Fitzwilliam voted the authority to the Trustees of the Library to receive and expend gifts in accordance with NH Title XVI, Chapter 202-A-c(see attachment A).
In general the Fitzwilliam Town Library welcomes gifts of books, materials, equipment, works of art, documents, photographs, property of any kind, as well as money and deferred gifts such as trusts, annuities and bequests that further the mission of the Library. Gifts that may encumber the Library either financially or administratively require the approval of the Trustees before acceptance. Gifts are dated at the time they leave the owner’s
possession. Gifts with a value of over $5,000 require a public hearing before acceptance of the gift. (Title XVI Chapter 202c III.)
Materials: Gifts of miscellaneous books or other materials in good condition are accepted with the understanding that items that are not added to collections will be disposed of at the discretion of the Library. These items may be given to the Friends of the Library for sale, given to other libraries, or discarded. (See also Section I. of Library Collection Development Policy)
Collections: Gift collections may be accepted only by the Director in consultation with the Board of Trustees, and with the understanding that the collection may not be kept intact.
Recognition gifts: The Library welcomes monetary gifts for purchase of materials of the collections given in recognition of individuals or organizations. The library staff will choose items of the donor’s requested subject or title preferences whenever possible. The name of the donor(s) and those recognized by the gift will be listed on a bookplate affixed to the material if so desired. The Library will acknowledge the receipt of the gift to both the donor and the person honored (or their family in the case of memorials).
Other monetary gifts: The Library welcomes gifts of cash or stocks and bonds. If the gift is used to purchase library materials, the Library staff will try to accommodate the donor’s subject or title preferences. A plate with the donor’s name will be affixed to the item(s) purchased, if so desired and when appropriate a list of items purchased will be sent to the donor. If the gift is one of securities, the customary procedure will be to sell these immediately, but the Library retains the right to postpone sale. The donor may not stipulate the timing of a sale.
Real estate or other personal property: The Library will accept gifts of real property that support the mission of the Library. The customary procedure will be to sell these immediately, but the Library retains the right to postpone sale. The donor may not stipulate the timing of a sale. Any appraisal and environmental assessments found necessary will be conducted at the expense of the donor prior to the Library’s acceptance. The gift will only be accepted after the approval of the Trustees.
Art and decorative objects: In general, gifts of art objects should be of local interest to the community, of professional quality, well executed, and in good condition. As with other gifts, art objects will be accepted only with the donor’s full agreement that the Library has the right to handle or dispose of the gift in the best interests of the institution and is under no obligation to inform the donor.
Because of the Library’s limited display and storage areas and focus on its primary mission as a Library, potential donors of art and decorative objects are requested to discuss any possible gifts with the Director and Board of Trustees prior to the actual donation.
No gifts posing a danger or threat to patrons will be accepted (e.g. metal sculpture with sharp moving parts). No gifts that require extensive, regular special care or conservation will be accepted.
Valuation: The Library will provide a timely, written acknowledgement of the receipt of gifts to the donor. (See attachment B.) Income tax regulations leave the determination of the gift’s monetary value to the donor. Donors wishing to have an appraisal of their gifts done for income tax purposes should do so prior to donation.
Annuities: The Library will not directly manage gift annuities, and therefore such gifts must be made with the understanding that a third party will manage the annuity and make payments directly to the Library.
Restricted gifts: Gifts for restricted purposes may be accepted when those restrictions are a component of the budget or of an active campaign and after discussion with the Library Director and Trustees. Additions to existing funds will be accepted in any amount.
Attachment A
Donation and Gifts Policy
ARTICLE 27: Shall the town accept the provisions of RSA 202-A: 4-c providing
That any town at an annual meeting may adopt an article authorizing indefinitely, until specific rescission of such authority, the public library trustees to apply for, accept and expend, without further action by the town meeting, unanticipated money from a state, federal, or other governmental unit or a private source which becomes available during the fiscal year?
Passed March 8, 1994 per Selectman’s Office

Attachment B: Donation and Gifts Policy

I, ________________________ (Name) donate the following to the Fitzwilliam Town Library:

own the above named donation and acknowledge that I have received a copy of and read the Fitzwilliam Town Library’s Donations and Gifts Policy, dated August 7, 2017. I understand that it applies to my gift. I understand that the gift becomes the sole property of the Library, which has the right to handle or dispose of the gift in the best interests of the institution.

Donor’s Address:______________________________________________________________
Donor’s Telephone/Cell Phone Number:____________________________________________
Donor’s E-mail Address:________________________________________________________