Originator: Director of Development
Approver: President’s Council
Effective: June 14, 2016
Replaces: October, 8 2013
The College receives financial and in-kind donations, both solicited and unsolicited, from various sources. These donations (referred to as “Gifts” in this policy) are critical to the College’s mission to develop and maintain quality programs and infrastructure. It is in the College’s best interest to ensure that such gifts are accepted and allocated appropriately, in accordance with industry best practices.
“Gift” means a voluntary, gratuitous and irrevocable donation of something of value, including cash (in any form) and real or personal property, to the College.
“Gift in Kind” refers to a voluntary, gratuitous and irrevocable donation of a non-monetary asset to the College and usually requires valuation for tax receipt purposes.
When a Gift is offered to the College, the employee will direct the donor to the Director of Development or designate or make the appropriate contact on the donor’s behalf.
When a Gift in Kind is offered to the College, the employee will direct the donor to the Inventory Control Records Coordinator in the Materials Management Department or will make the appropriate contact on the donor’s behalf. The Inventory Control Records Coordinator will report to the Director of Development or designate. No Gift in Kind will be accepted by the College unless it is useful to the College and it is accepted in accordance with the Canada Income Tax Act.
4. Protocol and Guidelines
The Director of Development or designate will pursue all appropriate Gift opportunities and administer all Gifts in accordance with this policy and the Gift Acceptance Guidelines. Where appropriate, this information will be made accessible to College staff through an electronic repository. The Director of Development or designate shall be responsible for developing Gift Acceptance Guidelines and shall be empowered to amend them from time to time as they see fit in their sole discretion.
Where the Director of Development, the Vice-President Strategic Development or the Vice-President Finance and Administration are of the view that the acceptance of a proposed Gift would present an ethical dilemma; acceptance of the Gift was inconsistent with College values; or if the Gift is valued at over One Million Dollars, the Gift will be brought to the Executive Committee. The Executive Committee will assess the proposed Gift and will either approve or reject the Gift.
Related Legislation and Policies
Income Tax Act R.S.C., 1985, c.1
P3 – Conflict of Interest
P5 – Ethical Behaviour
M3 – Asset Inventory Control
2.0 – Global Executive Limitation – Executive Limitation Board of Governors Policy Manual