Bequest Policy

Bequest Management Process 

NSW Wildlife Information Rescue and Education Service Inc.

1. Purpose

• 1.1 The Bequest Management Procedure provides guidance regarding the internal management and optimisation of bequests. The procedure also provides assurance to bequest donors and potential donors.

2. Scope

• 2.1 The Bequest Management Procedure applies to all members, members of staff, branches and committees.

3. Definitions

• 3.1 Bequests: are gifts left to WIRES in a donor’s last will and testament. Gifts may be in the form of property, shares, physical items, a cash amount, or a percentage or remainder of estate.
• 3.2 Bequestor: is the person leaving the bequest; a donor who makes a gift through their will.

4. Effective Date

• 4.1 This procedure is effective as of 31 August 2019.

5. Procedure Statement

• 5.1 NSW Wildlife Information Rescue and Education Service Inc. (WIRES) is able to receive charitable donations and encourages bequests as part of its strategy to build a sustainable base of strong financial support for its mission to actively rehabilitate and preserve Australian wildlife and inspire others to do the same and as a meaningful mechanism for engaging with individuals.
• 5.2 Any bequest may be for any purpose connected with the provision of WIRES objectives. The conditions of any bequest should not prevent WIRES from, or hinder it, in properly performing or exercising its objectives.
• 5.3 The procedure recognises the sensitivity of managing bequests and the importance of professional long term management practices required to optimise bequest opportunities that support the strategic direction of WIRES.
• 5.4 A bequest can only be made to NSW Wildlife Information, Rescue and Education Service Inc. and not to any Branch or individual connected with it, such as a director, member or an employee.

6. Management Authority

• 6.1 The Board has delegated authority to the Chief Executive Officer (CEO) to direct the procurement and management of bequests on behalf of WIRES.
• 6.2 To prevent duplication of effort and enhance record keeping and relationship development, approaches for prospective bequests must be coordinated and approved through the CEO.
• 6.3 The CEO has management responsibility for ensuring accepted bequests are applied in accordance with Bequestors’ wishes and WIRES objectives.
• 6.4 The CEO is responsible on behalf of WIRES, for honouring the memory and generosity of bequestors through appropriate recognition activity and will maintain links with the family of bequestors.

7. Acceptance of Bequests

• 7.1 All proposed bequests must be referred to the CEO to determine whether to accept a bequest with its conditions, or to ensure adequate planning is undertaken to comply with the conditions of the bequest.
• 7.2 WIRES will only accept bequests where the purpose of that bequest is aligned with the organisations mission and strategic objectives.
• 7.3 Any question as to the appropriateness or advisability of accepting a particular bequest will be resolved through the CEO and the Board, who bears ultimate responsibility for the authority to accept or decline.
• 7.4 WIRES reserves the right to refuse or return a bequest.

8. Advice for Bequestors

• 8.1 Prospective bequestors are advised to seek the advice of independent legal and/or financial counsel in the bequest planning process.
• 8.2 Bequestors are responsible for ensuring that a proposed bequest is in their best interest and furthers their charitable, financial and estate planning goals.

9. Bequest Management

• 9.1 The CEO is responsible for the application of bequests.
• 9.2 Bequests must be applied on a timely basis and should not be held, unutilised for extended periods, unless specifically required by the conditions of the Bequest.

10. Compliance, monitoring and review responsibility
10.1 The Board is responsible for the compliance, monitoring and review of the bequest procedure.