Geographically Restricted Fund Guidelines

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ISLANDS TRUST CONSERVANCY POLICY MANUAL 
 
 
 
POLICY MANUAL 
 
 
 
Code: TFB 08001     Policy   Procedure  Guideline  
 
Title: Geographically Restricted Fund Guidelines 
 
Approved By: Islands Trust Conservancy Board Date:  September 30
th
 2008 
  Resolution #: TFB 08/1036 
 
 
Purpose 
A geographically restricted fund’s purpose is to provide funding for land acquisition and 
associated costs within a defined geographical area in the Islands Trust Area.   
Background 
 
The Board strives to accommodate donors who wish to designate donated funds for 
defined geographical areas within the Islands Trust Area.   The Board created these 
Guidelines to ensure consistency in its creation and management of geographically 
restricted funds.  These Guidelines set out the circumstances under which the Board 
may establish a geographically restricted fund and how the Board will manage and use 
such funds. 
 
Criteria for Creating a Geographically Restricted Fund  
 
The Board may create and develop a geographically restricted fund at its discretion.  
Generally, the Board will consider creating a geographically restricted fund in the 
following four circumstances: 
1. Where the Board receives initial donations of at least $20,000, and the donors 
request in writing that the funds be used for a defined geographical area.  The 
Board will accept geographically restricted donations totalling less than $20,000 
only if a geographically restricted fund for that area is already established.  
2. Where funds are donated to the Islands Trust Conservancy under a Will and the 
testator has expressed a wish that the funds be used for a defined geographical 
area, the Board may consider creating a geographically restricted fund if there is 
no immediate need for the donated funds in that area.  Funds donated under a 

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ISLANDS TRUST CONSERVANCY POLICY MANUAL 
Will that are subject to a trust or legal condition will be used in accordance with 
legal requirements and may not be subject to these Guidelines.  
3. There are excess funds after a fundraising campaign that total at least $20,000, 
and either the donors request that the excess funds be placed in a geographically 
restricted fund, or the donors agree to the Board’s request that the funds be 
placed in such a fund.  
4. The Board sells a property and decides to place the sale proceeds in a 
geographically restricted fund.  TFB Policy 030012 Disposal of Land provides for 
this. 
 
Use of Geographically Restricted Funds 
 
In general, the Board will use funds held in a geographically restricted fund exclusively 
for the acquisition of ecologically-significant land within a defined geographical area. 
This includes any costs associated with the acquisition of land, such as purchase, legal, 
survey, and appraisal costs. 
The Board may also donate funds held in a geographically restricted fund to a partner 
agency to assist in the partner’s acquisition of ecologically-significant land within the 
geog

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