À¦°óSMÉçÇø

Overview

This policy establishes the conditions under which gifts-in-kind may be accepted by the University as a charitable donation for tax and non-tax receipting purposes, and assigns authority for such acceptance. Gifts-in-kind are non-cash gifts, such as books, archival records, artwork, real estate... À¦°óSMÉçÇø may accept a gift of tangible property as a charitable donation if such property supports the goals of the University, respects its academic freedom and preserves its integrity.

1. Principles:

1.1. To be considered for acceptance by À¦°óSMÉçÇø – a gift-in-kind must conform to the following principles:

a. Be consistent with the scope of the University’s mission, goals, priorities and strategic plan;

b. Be easily convertible into cash unless it is intended for retention. In either case (i.e. disposal or retention) it must:

• Either support the training of the mind, advance the knowledge or abilities of the University, contribute to the appreciation of art in the community , or improve a useful branch of human knowledge through research;
• Be financially neutral to the University operation. That is, the costs related to the acceptance and maintenance are allowable, once they have been assessed, and a source of funds to sustain these costs has been identified and secured.

c. Comply with the policies and guidelines of the Canada Revenue Agency () and the University;

d. The donor agrees that the donation can be disposed of or redirected at the discretion of the University once title transfers to À¦°óSMÉçÇø;

e. À¦°óSMÉçÇø is committed to avoiding actual or perceived conflicts of interest in its acceptance of gifts.

1.2. The gifts-in-kind described below will not be recognized as charitable donations by the University:

a. Professional or personal services from an individual or corporation;

b. Items of personal clothes;

c. Human organs;

d. Items from employees gained from the normal conduct of University business.

1.3. The Vice-Principal Administration and Finance is the authority mandated with the application of this policy.

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À¦°óSMÉçÇø's policy on gift-in-kind donations is described in full in the following document Gift In Kind Policy - Non-Monetary Donations

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