Gift Acceptance Policy

Posted on

Deer Lodge Centre Foundation was established in 1990 to raise awareness and funds for programs, services, and research at Deer Lodge Centre.

The Deer Lodge Centre is a progressive 429 bed long term care and rehabilitation facility providing a variety of in-patient, out-patient and outreach programs to the community.

SCOPE

This policy applies to all gifts to Deer Lodge Centre Foundation, including general donations, annual giving, planned gifts, special fundraising initiatives and giving related to capital campaigns.

GIFT ELIGIBILITY

All gifts will be accepted except those that:

  • violate a federal, provincial or municipal law, by-law or regulation;
  • will compromise, in the opinion of the Chair of the Board, the commitment of Deer Lodge Centre Foundation to its mission;
  • are donated on a condition that would compromise, in the opinion of the Chair of the Board, a fundamental principle of Deer Lodge Centre Foundation; and
  • the Board of Directors of Deer Lodge Centre Foundation, in its absolute discretion, declines.

Deer Lodge Centre Foundation will accept the following gifts on the conditions set below:

Cash
Deer Lodge Centre Foundation will accept cash, credit card payments, cheques and money orders payable to “Deer Lodge Centre Foundation”.

Wills and Bequests
Bequests made to Deer Lodge Centre Foundation may qualify as a charitable gift if the terms and conditions of the bequest are acceptable under Deer Lodge Centre Foundation gift acceptance policies and Canada Revenue Agency (“CRA”) guidelines. Official receipts will be issued to the estate of the deceased if in accordance with CRA guidelines.

Charitable Gift Annuity
Deer Lodge Centre Foundation will consider charitable gift annuities on a case-by-case basis. The amount of an official receipt will be determined according to CRA guidelines.

Life Insurance Policy
Deer Lodge Centre Foundation will accept a life insurance policy if it is named as beneficiary or is both the owner and beneficiary. An official tax receipt will be issued if the gift qualifies according to CRA guidelines and in the amount as determined by those guidelines.

Ordinarily, any premiums due are the responsibility of the donor. If the insurance policy lapses for non-payment prior to maturity because a donor fails to pay the premiums, Deer Lodge Centre Foundation may:

  • continue to pay the premiums,
  • convert the policy to paid-up insurance, or
  • surrender the policy for its current cash value.

When a life insurance policy is absolutely assigned to Deer Lodge Centre Foundation, any consent that is required by provincial regulations to change the owner of the policy must be signed before the transfer represents a valid charitable donation.

Retirement Fund
Deer Lodge Centre Foundation will accept the proceeds of a retirement fund as a gift if it is named as beneficiary. An official receipt will be issued according to CRA guidelines.

Publicly Traded Securities
Deer Lodge Centre Foundation will ordinarily only accept gifts of securities that are publicly traded stocks and bonds. The value and amount of official receipt of such a donation are determined by the value of the security on the date of receipt of the donation. The securities Deer Lodge Centre Foundation receives from donors will be sold upon the transfer of beneficial ownership of the security to Deer Lodge Centre Foundation.

Deer Lodge Centre Foundation will not accept the donation of shares of a private corporation except with the prior express approval of the Board of Directors.

Charitable Remainder Trust
Deer Lodge Centre Foundation will accept a charitable remainder trust as a gift if it is named as capital beneficiary. The amount of any official receipt related to the gift will be determined according to CRA guidelines.

Gifts of Property and Residual Interest Gifts
All proposals for gifts-in-kind and residual interest gifts to Deer Lodge Centre Foundation shall be reviewed by the Executive Director and/or referred to the Board of Directors and legal counsel if necessary. Gifts of property will be reviewed with special care to ensure that acceptance will not involve financial commitment in excess of budgeted items or other obligations disproportionate to the use of the gift.

Where the donor wishes to be issued an official receipt, gifts of property valued at or over $1,000 given to Deer Lodge Centre Foundation must receive an independent external appraisal.

Deer Lodge Centre Foundation will issue official receipts subject to the following:

  • in accordance with current published Canada Revenue Agency administrative practice or opinion;
  • for any donation with a value of $10.00 in Canadian funds, or greater; and
  • in an amount that conforms to current published Canada Revenue Agency administrative practice or opinion, or on the advice of Deer Lodge Centre Foundation counsel.
  • when a donor reports that an official receipt from Deer Lodge Centre Foundation has been lost or stolen, Deer Lodge Centre Foundation will provide a replacement official receipt in accordance with CRA guidelines;

Deer Lodge Centre Foundation will conform to the following policies when accepting donations:

  • designated gifts will be used for the purposes for which they are provided, except where such purposes become impractical, in which case, Deer Lodge Centre Foundation will use the gift for the purpose(s) that, in its discretion, the Board of Directors deems most similar to the original designated purpose;
  • undesignated gifts will be used for the most needed initiatives as determined by the Board of Directors;
  • all gifts will be acknowledged in as timely and accurate a manner as possible.
  • written Gift Agreements with donors will be adhered to by Deer Lodge Centre Foundation according to the terms of any such agreement;
  • administrative procedures will be established for the acceptance and receipting of gifts, under the direction of the Executive Director and according to CRA guidelines;
  • anonymous gifts will be accepted and official receipts will be issued according to current published CRA administrative practice and opinion;
  • where Deer Lodge Centre Foundation gives a naming opportunity in appreciation of a gift, such naming opportunity shall be governed by a Gift Agreement.