Purpose

The Lake Forest Library (the "Library") in accordance with its mission to make accessible to all Lake Forest residents, as economically and effectively as possible, books and other information resources and services welcomes donations, including revenue and/or in-kind contributions.  Such donations shall be used to enhance the collection, events, programs, activities, and services the Library provides to the Lake Forest community.

This policy addresses

• the acceptance of gifts by the Library, and provides guidance to prospective donors;
• individual, foundation, business, and community organization sponsorships; and
• foundation and corporate grants.

Gifts

Gift Defined. A gift is a voluntary, non-reciprocal transfer of money or property from a donor to the Library. Although the Library welcomes gifts, certain gifts may be unsuitable for the Library because of the nature of the gift, its conditions, or the ongoing cost of managing the gift.

Acceptance of Gifts. The Library will accept unrestricted gifts, and gifts for specific programs and resources, provided such gifts are not inconsistent with the Library's stated mission and goals.

If the Library accepts a gift, the gift shall be final and no restrictions on the Library’s ownership, possession, use or disposition of the gift shall be effective other than restrictions approved by the Board of Trustees and documented in writing. All gifts 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 Library.

The Library cannot provide appraisals of gifts it accepts for income tax or other purposes.

The Board of Directors, acting in the best interests of the Library and in its sole discretion, shall have the right to accept or refuse any gift on behalf of the Library. Notwithstanding the preceding sentence, acceptance of Library Materials is at the sole discretion of the Library Director.

The Library shall seek the advice of legal counsel in matters relating to the acceptance of gifts when appropriate. The Library urges all prospective donors to consult with personal legal and financial advisors in matters relating to their gifts and any resulting tax and estate planning consequences.

Gifts of Library Materials will be evaluated using guidelines set forth in the Collection Development Policy and are accepted with the understanding that items which are not added to the collection will be disposed of at the discretion of the Library. The donor should understand that the materials donated become the property of the Library, and their ultimate disposition will reflect library needs as interpreted by the Library Director. Suitability, extent of duplication, physical condition, copyright dates, and costs of processing and housing are factors in making decisions about the disposition of gifts. Acceptance of any gift is conditioned by its active value to the Library which does not include the museum function. It is the policy of the Library not to accept special collections of books to be kept together as a separate physical entity. Gift collections may be accepted only with the understanding that they may be integrated into the general collection.

Contact the Library Director with questions regarding specific donations. All final decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the Board.

Acknowledgement of Donors. The Library Director will acknowledge all gifts, regardless of value. All capital gifts will be noted in the historical documentation of Library property. In addition, the Board President will acknowledge all gifts of $500 or more, including gifts from the Friends of Lake Forest Library. All gifts of significant importance will be noted in the minutes of the Board subject to the discretion of the President of the Library Board.

Donors sponsoring specific events and programs will be recognized on the related marketing materials.

The anonymity of the donor will be respected upon request. This request will be reflected on any published lists and other forms of donor recognition.

A notice will be posted annually, and included in the minutes, at the end of each fiscal year listing all contributions to the Library. A news release will be issued at the end of each fiscal year noting the donors to the Library for the past year. No monetary amounts will be listed.

Corporate, business, and individual sponsorships

This policy identifies general conditions under which an individual, foundation, corporate, business, or community organization may become sponsors of specific library collections, programs, services, and/or events ("Sponsor").

Sponsorship Defined. Sponsorships create a mutually beneficial exchange, whereby the Sponsor receives a benefit or reciprocal value in return for providing cash or in-kind gift to the Library. Sponsorships do not imply Library endorsement of the Sponsor's product or service.

Acceptance of Sponsorships. The Board of Trustees has concluded that sponsorships of this sort are consistent with the Library’s mission and will help the Library maintain or increase its level of service to the Lake Forest community. Moreover, Sponsorship entitles the sponsoring individual, foundation, corporate, business, and community organization with recognition, which may be expected to enhance its image in the community.

Potential sponsorships will be evaluated by the Library Director and the Board of Trustees on a case‐by‐case basis. The particular conditions under which a sponsorship may be agreed upon and carried out will be determined by the Board of Trustees and implemented by the Library Director and Library staff.

The Board of Trustees of the Library reserves the right to refuse any sponsorship it feels is inappropriate or unsuitable to its goals and mission, and to cancel the agreement at any time.

General Terms and Conditions. All decisions, determinations, and actions taken by the Board of Trustees or Library Director with respect to the implementation of a sponsorship agreement are final and not subject to review by the Sponsor.

A written agreement, signed by the Library and the Sponsor, will be entered into to set out the terms of the sponsorship.

A Sponsor shall have no reason to expect that it will receive special treatment other than as may be stated in the written agreement nor that it will be in a position to influence the policies or practices of the Library.

A Sponsor should also understand that sponsorship does not imply endorsement of its products or services by the Library.

Sponsorship should not create a conflict with the mission and objectives of the Library, nor with its broader policies and practices.

The Board reserves the right to terminate any existing sponsorships if conditions arise that conflict with this policy or if the sponsorship no longer supports the best interests or mission of the Library.

Sponsorships differ from collaborative partnerships which involve institutions, organizations, businesses or individuals, working together with the Library in an effort to accomplish a common goal with a shared sense of purpose and responsibility for the outcome. These partnerships do not involve the exchange of money. The Library routinely partners with others to deliver resources, programming, and services to the Lake Forest community.

Grants

Grant Defined. A grant is the transfer of money or property from a funding organization or individual to the Library. Typically, a grant award requires the performance of specific activities and follow-up reporting.

Acceptance of Grants. The Library will identify and apply for grant funds that further its mission and strategic plan. Any award of a grant shall be subject to the approval of the Board of Trustees, and the Library will use awards pursuant to the terms and conditions of the grant and comply with all reporting requirements. (Approved April 11, 2017.)