Donations Procedure

1. Purpose

The purpose of this procedure is to define the steps to follow when accepting and acknowledging gifts to the College.

2. Application

This policy applies to College employees who may accept, acknowledge and process gifts on behalf of the College.

3. Roles and Responsibilities

Advancement Office: receives donation and processes through the Cash Office; generates charitable donation receipt for review and approval by the Finance Department; and prepares donor thank you letter to accompany the charitable donation receipt.

Cash Office: processes donation as instructed by Advancement Office and provides Cash Office receipt to the Advancement Office.

Finance Department: reviews charitable donation receipt to ensure compliance with the Canada Income Tax Act and Canada Revenue Agency (CRA) guidelines; and returns approved receipt to the Advancement Office.

President or designated Senior Executive: signs the thank you letter.

4. Gift Acceptance

• 4.1 If a potential donor approaches a Loyalist College employee or graduate about their intent to donate, the donor enquiry is to be redirected to the Advancement Office. Solicitation of donations, without specific consent/direction from the Advancement Office, is not permitted.
• 4.2 Loyalist College Appraisal Authorization form to be completed by donor or College employee involved in solicitation of gift.
• 4.3 The following exceptions should be noted:
  • Where the estimated value of the gift is less than $5,000 and no local appraiser is available, a knowledgeable Loyalist College employee not involved in the gift solicitation may examine the gift and advise an outside appraiser as to its condition. Loyalist College will accept a signed evaluation of the gift from this appraiser.
  • Where the estimated value of the gift exceeds $20,000 a second appraisal may be required at the direction of the auditors.
  • Any unusual or exceptional gifts may also require second appraisals where Loyalist College and its auditors deem it appropriate.
  • An appraisal is to be completed by approved appraiser/authority on their standard letterhead and returned to Advancement Office. If required, an appraisal form is available through the Advancement Office.
  • Gift receipting will be done through the Loyalist College Advancement Office as per the fair market value established by the appraiser and documented on form.
  • Acknowledgement and receipt to be sent by the Advancement Office.
  • Loyalist College Departmental Gift Acknowledgement form to be completed and returned to Advancement Office to complete donor file.

5. Related Documents or Links

• EXT 101 Donations Policy
• EXT 101 Gifts-in-Kind Form

6. References

• Canada Income Tax Act
• Ontario Human Rights Code