Donation Acceptance Policy – Gifts-In-Kind Securities

To outline the requirements for the acceptance of Gifts-In-Kind and Gifts of Securities made to Cambrian College.

This policy applies to all Cambrian College employees and students.

Donor: A person or entity making a gift to the College.

Gifts-In-Kind: Non-cash gifts, such as but not limited to artwork, books, vehicles, equipment, software, furniture, artifacts, or property.

Gifts of Securities: These gifts include stocks, bonds, trust units, exchange-traded funds, segregated funds, and mutual funds units.

1. General
   1. Cambrian College accepts gifts-in-kind and gifts of securities that are in keeping with the College’s mission, vision and strategic goals, and in compliance with the Canada Revenue Agency (CRA) policies related to charitable giving.
   2. The Alumni and Development Office is responsible for managing relations with donors and accepting charitable gifts for the College. It is important that College staff work with the Alumni and Development Office when in discussions with potential donors and/or accepting a gift.
   3. Complete information about any gifts received by the College must be forwarded to the Alumni and Development Office as soon as possible to ensure timely and appropriate stewardship with a donor.
2. Gifts-In-Kind
   1. Gifts-in-kind represent a sizable proportion of the total charitable donations received by the College.
   2. All College members must work with the Alumni and Development Office to obtain the appropriate approvals before accepting a gift.
   3. The College will determine if there is a need for the gift prior to accepting. Any associated costs that may be incurred by the acceptance of the gift (e.g., renovation, installation, maintenance, etc.) will also be considered.
   4. The President is required to approve gifts which, in the opinion of the Alumni and Development Office or divisional area:
      1. expose the College to an uncertain and potentially significant liability.
      2. are precedent-setting, involve sensitive issues, or are cost-prohibitive.
   5. The gift must be recorded for reporting purposes.
   6. The College will make every effort to accept appropriate gifts, however, they retain the right to refuse a gift.
   7. All donors will be acknowledged for the gift.
   8. Eligible gifts will be acknowledged with a charitable tax receipt. The gift may also be recognized through other means, including but not limited to photo or media release.
   9. Gifts that are eligible for a tax receipt and qualify as a donation under the Revenue Canada definition require an appraisal.
   10. The transportation, handling, installation, maintenance, disbursement, administration, etc. of a gift generally resides with the department that will benefit from the gift.  If a gift is sold, any outstanding administrative costs will be recovered from the sale proceeds.
3. Securities
   1. Donors who donate certain publicly traded securities “in kind” to Canadian private foundations or registered public charities, such as Cambrian College, are exempt from the payment of capital gains tax on any profit created by the fair market value of the donation.
   2. To qualify, the donation must be made “in kind” (or in their current form, unsold) and the shares must be publicly traded on Canadian or other major international exchanges (private company holdings do not qualify at this time).
   3. The Alumni and Development Office will administer the acceptance of a gift of publicly traded securities.  The gift will result in a non-refundable tax credit that will reduce the donor’s income taxes.

Executive Director, Alumni, Development and Office of the President is responsible for:

• Ensuring overall compliance of this policy.
• Ensuring the development, review, and availability of this policy.

Alumni and Development Office is responsible for:

• The application and administration of this policy.

Endowment Investment Policy