Donated Funds

Donated Funds. The MSVA is to receive and accept gifts and\or donations for the benefit of the State Veterans Nursing Homes and to use said gifts for carrying out the objective and purpose of the State Veterans Nursing Homes. The agency’s policies and guidelines for the use of said funds, are hereby set forth. A. The MSVA will accept private donations from any source with the understanding that the donation may be designated for general use, at the discretion of the Board, or for use for a specific purpose. All donated funds will be used for the general welfare and benefit of all the residents. B. Any person or entity specifying a particular use for donated funds should do so in writing. The funds so received shall be earmarked for the particular purpose and expended only for that purpose. If the MSVA determines that the purpose for which the funds have been designated is not a realistic purpose or is not legal or otherwise appropriate, then the agency shall return said funds to the donor with a specific statement of the reason why the funds cannot be used for the particular, designate purpose. C. The MSVA shall only use accrued interest from donated funds previously received and hereafter received where such donated funds were/are given with the understanding that the principle would be placed in an endowment with only accrued interest being expended. However, the agency may expend such principle on a two-thirds (2/3 vote of Board members present for an emergency or other special circumstance relating to the health, safety, and welfare of SVNH residents for which state or federal funds cannot be (or cannot be timely) used for that emergency or special circumstance. D. Any funds received from any person or entity for which a specific purpose is not designated shall be placed in a general donation fund for use in the discretion of the Board (two-thirds vote of members present required) pursuant to policies and guidelines. Examples of appropriate expenditures of not-specified donated funds are as follow: (1) Christmas presents (2) Movies, parties, and other types of entertainment. This would include equipment such as popcorn machine, ice cream machine, aquarium, etc. (3) Other items for which state or federal funds cannot be (or cannot be timely) used. (4) MSVA shall provide the Board with a monthly report on the status of the private donations account. E. MSVA shall provide the Board an annual report on donations received and expenditures, including accrued interest, from donated funds to donors and other interest, from donated funds to donors and other interested parties.