donations-policy

7.0 Donations Policy

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7.1 Scope BCITSA is a registered charity that accepts donations (either cash or gifts-in-kind) from external donors, whether individuals and/or companies. BCITSA works to demonstrate value and benefit for BCIT students by ensuring a strong financial base. BCITSA Donations Policy governs the solicitation, acceptance and stewardship of all donations to BCITSA and BCITSA Subsidiary Organizations. Its purpose is to ensure that all facets of BCITSA remain compliant with the Income Tax Act and Revenue Canada-established practices and standards.

7.2 Related Documents This policy is compatible with BCIT Gifts-in-Kind/Donated Equipment Policy 7000 and BCIT Gifts inKind/Donations-Accounting Policy 7001.

7.3 Solicitation of Donations BCITSA as a representative organization supports student and staff participation in the solicitation of donations to BCITSA and BCITSA subsidiary organizations with the following limitations.

7.3.1 Limitations

(a) The Student Executive may participate and solicit donations on behalf of the whole of the organization. (b) Student Executives of BCITSA Subsidiary Organizations may participate and solicit donations on behalf of the Subsidiary Organization that they belong to. (c) The senior staff may solicit donations on behalf of the whole of the organization. (d) Department Managers/Supervisors may participate and solicit donations on behalf of the department that they belong to with the approval of the senior staff that they report to.

7.4 Acceptance of Gifts-in-Kind & Donations BCITSA represents all BCIT students and as such retains the right to not accept donations that are inconsistent with our organizational mandate or marginalize in whole or in part the membership of BCITSA. 7.4.1 Guidelines

(a) BCITSA will not accept donations from: (i.)

Religious organizations/agencies (ii.)

Political organizations/agencies (iii.)

Companies affiliated with the aforementioned organizations/agencies (iv.)

Companies that promote or condone illegal activities and/or services (b) BCITSA cannot accept donations from donors where consideration is anticipated or expected. (c) BCITSA may choose not to accept a donation that requests conditions that require substantial administrative resources to manage or are not in the best interest of BCIT students or BCITSA. (d) BCITSA may choose not to accept a donation that opens BCITSA to potential liability. (e) No donation shall be deemed as accepted until written confirmation is received by the Director or Controller. (f) No student or staff member can do anything that leads a potential donor to believe that a donation has been accepted.

A complete version of the BCITSA Policies & Procedures is available at http://www.bcitsa.ca/about/policies‐&‐procedures.shtml

7.0 Donations Policy

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7.5 Issuing Tax Receipts BCITSA must remain compliant with standards supplied by Revenue Canada. BCITSA, as a registered charity, may issue tax receipts with the following restrictions.

7.5.1 Restrictions

(a) Tax receipts can only be issued when the donor supplies their full name and current address to BCITSA. (b) Donors wishing to remain anonymous may still qualify for a tax receipt if: (i.)

They supply BCITSA with their full name and current address to be disclosed only to Revenue Canada should Revenue Canada request such information. (ii.)

They understand that senior management within BCITSA may request to see the list of anonymous donors, which cannot be used for any other purpose. The donor, in association with the donation, will not appear in any publications, minutes or reports of BCITSA. (c) Tax receipts are non-transferable. (d) Tax receipts cannot be issued for donations that do not come into the custody of BCITSA. (e) Gifts-in-kind are eligible for tax receipts: (i.)

Tax receipts will only be issued for the fair market value of the donation. (ii.)

If the donation is a purchased item, the sales receipt must be accompanied. (iii.)

Should a receipt not accompany a donation, it is the responsibility of the Controller to decide whether or not a receipt can be issued. (f) Donations of services cannot qualify for a tax receipts under any circumstances. (g) All decisions regarding interpretation of eligibility will be handled on a case by case basis by the Controller in consultation with the Director.

7.6 Stewardship BCITSA as a registered charity records all donations to ensure that operational accounting practices are compliant with the Income Tax Act and Revenue Canada standards and practices: (a) The office of the Controller must maintain a record of all accepted donations issued tax receipts. (b) BCITSA financial statements fully reflect donations to the organization in compliance with the Income Tax Act.

A complete version of the BCITSA Policies & Procedures is available at http://www.bcitsa.ca/about/policies‐&‐procedures.shtml