Planned Giving Policies and Procedures

Adopted January 14, 2019

​The White Marsh Volunteer Fire Company, Inc. may accept gifts of cash and currency, pledges, securities, personal and real property, gifts-in-kind, life insurance policies, and bequests.

  • DEFINITION:

    • Fund: Specific financial purpose for a gift.

 

  • PROCEDURE:

    • White Marsh Volunteer Fire Company, Inc. accepts several types of assets as gifts.  A variety of methods offered allow donors to choose the one most advantageous to them.

      • Gifts of Cash or Checks:  Checks should be made payable to The White Marsh Volunteer Fire Company, Inc.  Cash or check will be deposited into the depository account of the White Marsh Volunteer Fire Company, Inc. as deemed appropriate by the Treasurer or Board of Directors.  Some donors will elect to make their gifts in the form of pledges, payable over a specified time of up to five year

      • ​Gifts of Securities:  The preferred method of giving securities to White Marsh Volunteer Fire Company, Inc. (a paperless transfer) is for the donor to:

        • Immediately notify the White Marsh Volunteer Fire Company, Inc. by phone or letter of intent and;

        • Instruct his/her broker to transfer the stocks directly to White Marsh Volunteer Fire Company, Inc. account.

        • Alternatively, the donor may either send the unendorsed certificates and executed stock powers in separate envelopes to:

 

White Marsh Volunteer Fire Company, Inc.

10331 Philadelphia Road

White Marsh, MD 21162

 

or deliver the unendorsed certificates and executed stock powers to a bank or broker for the account of White Marsh Volunteer Fire Company, Inc. requesting that the White Marsh Volunteer Fire Company, Inc. be contacted immediately for instructions.

  • A letter of transmittal should accompany stock certificates being transferred to White Marsh Volunteer Fire Company, Inc., stating the purpose and terms of the gift. Stocks, bonds, debentures, etc. that are regularly traded on an exchange will be valued for donor recognition purposes at the mean between the high and low prices at which the security was traded on the date of the transfer. If there were no sales on that date, the value shall be determined by taking the mean between the highest and lowest sales on the nearest date after the date of transfer, within a reasonable period.  Donors will receive donor recognition credit for the value as stated above, not the net received after disposition of the securities.

  • Upon notification of a gift of security from the donor, the White Marsh Volunteer Fire Company, Inc. will notify the Investment Company selected by White Marsh Volunteer Fire Company, Inc.  The investment company will confirm with the White Marsh Volunteer Fire Company, Inc. the correct number and type of shares have been received.  In turn, the White Marsh Volunteer Fire Company, Inc. then will provide written authorization to sell the securities immediately.  Proceeds of the sale will be deposited into the depository account specifically established for the White Marsh Volunteer Fire Company, Inc.

  • Non-Publicly Traded Securities with no ready market value will be credited for donor recognition purposes at the value assessed by the donor’s independent appraiser, which shall be at donor’s expense.  A qualified, independent appraiser will conduct the appraisal.  It is the responsibility of the donor to pay for the appraisal.

 

  • Real Property/Personal Propertv/Gifts-in-Kind:  Gifts of real property and personal property or gifts-in-kind require special handling.  Anyone having knowledge of prospective donors who might consider gifts of this nature should notify the White Marsh Volunteer Fire Company, Inc. as soon as possible.

    • Gifts of real estate must be handled through the Board of Directors and with consultation of an attorney to determine whether to accept the gift.  The appraisal cost is the responsibility of the donor.

    • Property may be retained or sold to meet organization goals and this decision will rest exclusively with the Board. 

    • Gifts of Real or Personal Property will be recognized at the value of the gift at the time it is made, as assessed by the donor’s independent appraiser, at donor’s expense. 

    • While a donor may, on occasion, prefer the organization to retain a property, this must be expressed only as a preference and not as a requirement.  In no case should any gift of real property involving a potential maintenance expense, (i.e., tax, title insurance, landscaping expense, be accepted without full consultation with the President, Captain and Board of White Marsh Volunteer Fire Company, Inc..)

 

  • Gifts of Art and Other Tangible Personal Property:  The Board of Directors may accept an offer of a gift of art or other tangible property initially and conditionally on behalf of White Marsh Volunteer Fire Company, Inc..

    • The following rules shall govern such acceptance:

      • Every effort should be made to ensure that such gifts do not involve undue expense by the organization for their present or future use, display, maintenance, or administration;

      • Such gifts shall be of aesthetic or historic interest and useful for educational purposes, teaching, or decoration;

      • Sufficient display or storage space shall be available;

      • White Marsh Volunteer Fire Company, Inc. reserves the right to sell, transfer, or dispose of any gift.

 

  • The following considerations and restrictions shall govern the acceptance of gifts in-kind:

    • Gifts of tangible personal property such as paintings or other works of art or furniture, or collections as such, should not be accepted if made on the condition, understanding, or expectation that the items will be permanently exhibited, or that the collection will be maintained and shown as such.  Any gift offered with such a restriction or condition shall be reported to the White Marsh Volunteer Fire Company, Inc. and may be accepted only upon approval of the Board of Directors.

    • The terms of gifts of any objects or collections should expressly authorize the sale or exchange of such objects or collections as determined by the Organization;

    • White Marsh Volunteer Fire Company, Inc. or employees or members shall not furnish valuations or appraisals to donors for gifts in-kind to the organization;

    • The value of gifts of real property will be based upon qualified, independent, appraisals made by donor’s independent appraisers, at donor’s expense.

    • It is the donor's responsibility to secure, arrange, and pay for appraisals of gifts of real and personal property.  White Marsh Volunteer Fire Company, Inc. assumes no responsibility or liability for determining the value of a donation or gift for donor’s tax purposes.

  • Gifts of Life Insurance:

    • When a life insurance policy is donated as a gift to White Marsh Volunteer Fire Company, Inc., the policy must name the organization as the irrevocable owner and beneficiary.  For donor recognition purposes only, the value of the policy is its cash surrender-value at the time of the gift, not its face value.  However, for donors age 75 or older recognition will be offered at full face value of the policy.

    • The life insurance policy may be surrendered immediately for its cash value, or it can be maintained (deferred gift) by the organization.  If a donor continues to pay the insurance premium on the policy, the payments will be recognized by White Marsh Volunteer Fire Company, Inc. as additional donations.

  • Bequests:  The White Marsh Volunteer Fire Company, Inc. is pleased to accept bequests through wills or trust.  Donors who are at least 75 years of age or older, and who provide supporting documentation, shall be offered recognition at the full value within their bequest provisions.

 
Donate now with PayPal, Debit Card or Credit Card

paypal.me/wmvfc​

 

 If you are donating in response to a specific fund drive or request, or you are making a payment, please enter in the designated field.

 

Examples may be:  “Fire Fund Drive”, "Ambulance Fund Drive”, “Medic Service Letter”, “Flea Market space payment”, “Bull Roast ticket payment”, etc.

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If you would like to use a check or money order, please send it to the station’s address below with our form and make the check payable to:


White Marsh Volunteer Fire Company, Inc.
P.O. Box 309

10331 Philadelphia Road

White Marsh, Maryland 21162-0309

© White Marsh Volunteer Fire Company, Inc.

Fire Suppression, Emergency Medical Services and First Responder Rehab Services

Station 20

Baltimore County, Maryland

10331 Philadelphia Road

White Marsh, Maryland 21162

410-933-0100 or 410-887-5770

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