This policy applies to all departments and individuals involved in the Campaign for Carleton.

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1 Policy Name: Originating/Responsible Department: Approval Authority: Date of Original Policy: Last Updated: March 2010 Campaign Policy University Advancement Senior Management Committee Mandatory Revision Date: March 2015 Contact: Chief Development Officer Policy: Carleton University s comprehensive fundraising campaign will run for seven years beginning January 1, 2010 and raise funds for University approved priorities. Purpose: The purpose of this policy is to outline the parameters of Carleton s current comprehensive fundraising campaign, referred to as the Campaign for Carleton Scope: This policy applies to all departments and individuals involved in the Campaign for Carleton. Procedure: 1.0 Authority The Campaign for Carleton is a means of funding University priorities and will operate under the approval of the President of Carleton University. Final authority on all campaign operational matters rests with the President and Vice-Chancellor of Carleton. The Campaign Steering Committee will make recommendations to the Campaign Cabinet and the President. All financial policies will be approved by the President prior to implementation. 2.0 Campaign Period For the purposes of these policies and procedures, the Campaign Period will refer to the total time encompassed by the Campaign for Carleton. This will primarily include the active solicitation phase of the campaign, whether public in nature or not. The Campaign for Carleton period is expected to be seven years in duration. 2.1 The Campaign for Carleton will encompass three phases as follows: Advance Phase any gifts received prior to January 1, 2010, per section 4.2. Quiet Phase beginning January 1, 2010 until approximately 60-65% of goal is achieved. Public Phase to begin once approximately 60 65% of goal is achieved and to continue until December 31, 2017 or as modified by the President. 1

2 3.0 Pledge Payment Period The pledge payment period should not generally exceed five years from the date a pledge is secured Campaign Counting 4.1 Contributions to the Campaign for Carleton will be counted as follows: Only the total of gifts and pledges actually received or committed during the specific period of time identified for the Campaign for Carleton (see 2.2 above) will be counted in campaign totals. This may include payments on pledges secured prior to the Campaign for Carleton as and were not counted under any prior campaign. The value of any cancelled or unfulfilled pledges will be subtracted from campaign totals once it has been determined that the pledge will not be realized. However the campaign total will be finalized as of four months after the close of the campaign. Expected bequests will be counted as long as they were not counted under any prior campaign and as long as they comply with the procedures outlines in paragraph 6.2 of this policy 4.2 Advance Phase Contributions: Selected gifts and pledges secured between January 1, 2005 to December 31, 2009, expected bequests secured by the University prior to January 1, 2010 that meet counting criteria under section 6.2, and gifts and pledges specifically made to established campaign priorities prior to January 1, 2010 will be defined as Advance Contributions for the purposes of the Campaign for Carleton, and will be counted toward official campaign totals 5.0 Types of Contributions 5.1 The Campaign for Carleton is a broad-based comprehensive campaign, which will include, but not be limited to: outright gifts that have not been counted in previous campaigns as expectancies; deferred gifts (bequest, life insurance, charitable gift annuity, charitable remainder trust) secured during the campaign; pledges and pledge payments; non-monetary gifts; Marketable property such as securities, real property, and saleable personal property Gifts in kind (gifts to be used in the form in which they are given, e.g. computer hardware.) 5.2 Regardless of the above list, no gift or pledge either outright or deferred will be counted if it was previously counted in a prior campaign. 5.3 Note: Carleton University s Gift Acceptance Policy, approved February 2010 as may be revised or amended in whole or in part, 2 shall remain in full force and effect during the campaign period. 6.0 When to Count Contributions 6.1 Outright gifts should be counted only when assets are transferred irrevocably to the University or to the Carleton University US Foundation. Foreign currency exchange will 1 Carleton recognizes that there may be special circumstances that justify a longer payment period. Exceptions must be approved by the Chief Development Officer prior to the pledge being booked. 2 The Gift Acceptance Policy is scheduled for review in February

3 be counted as part of the original gift. 6.2 Deferred (or planned) gifts will be recorded and tracked separately to outrights gifts and will count toward campaign totals when assets are transferred, if not previously counted as an expectancy. In addition revocable commitment will be reported when the gift instrument is executed and the university has received sufficient documentation. 6.3 Pledges will be recorded and tracked separately but will be added to Campaign totals as follows: Pledges of cash: Pledges of cash of $5,000 and above should be written in the form of a gift or endowment agreement and should commit to a specific dollar amount, a fixed payment schedule, and be signed by the donor. The pledge payment period, regardless of when the pledge is made, should generally not exceed five years 3. Annual Fund pledges: Commitments made through the Annual Fund program will not be recorded. Therefore Annual Fund donations will be counted as other cash gifts as they are realized. Oral pledges: Oral pledges are not to be counted in campaign totals. Should a Development Officer feel that special circumstances may warrant making an exception, s/he should gain specific written approval from the Chief Development Officer. The Development Officer will then document the decision and any supporting correspondence and ensure that a scanned copy is recorded into Advancement records. 6.5 Non-monetary gifts will be counted on the date received as long as the final documentation is complete and in accordance with our Gift Acceptance and Gift in Kind Policies. 6.6 Sponsorships may be counted in Campaign for Carleton totals as long as the University does not advertise competitive pricing or product information because of the donation Expected Bequests will be counted separately from other pledges but may be counted within the campaign as follows: Expected bequests but may be counted toward campaign totals, if the donor will reach the age of 70 or older prior to December 31, 2017, the university has an expected value of the bequest and the university has a gift agreement, copy of the will, letter from the donor, or other acceptable documentation on file ; Expected bequests will be counted at one of three values o In instances where the donor has not provided an estimate, the university will record the expected bequest at a value of $100,001 which represents the average bequest received. o In instances where the donor has provided an estimated range for the bequest, the lowest figure will be recorded for counting. o In instances where the donor has provided a specific bequest, then the figure provided by the donor will be recorded for counting. 7.0 Exclusions The following types of funds will be excluded from the Campaign for Carleton report totals: 3 From time to time exceptions may be made as approved by the Chief Development Officer. 4 See Sponsorship section under Campaign Gift Types, Counting Criteria, and Crediting Guidelines. 3

4 Gifts or pledges, outright or deferred, that has already been counted in previous campaigns, even if realized during the Campaign for Carleton reporting period. This would include realized bequests that we reported as expectancies in prior campaigns; Investment earning on contributions, even if accrued during the campaign-reporting period and even if required within the terms specified by a donor; Non-receipt able portion of revenue from ticket-based events or activities; Contract revenues, proceeds of exclusive vendor relationships (i.e. pouring rights) and advertising revenue (note, simple name or logo placement is not advertising); Royalties from affinity agreements or other earned income; Alumni memberships fees or dues; Expenses associated with transferring a gift to the institution, including appraisal costs Contributed services 5 ; and Governmental funds such as transfer payments, research grants, money received under the Ontario Trust for Student Support program or other programs developed for government policy implementation. Note: Although provincial and federal government programs requiring private matching funds play a role in encouraging philanthropy, there is a profound difference between public and private support. The Campaign for Carleton is an instrument of philanthropy while government funding programs are for the implementation of public policy. While both philanthropy and public policy may be motivated by compassion for others, only philanthropy involves the distribution of privately held resources for the public good. Gifts received by governments and governmental agencies that involve the transfer of assets to the university, were made in the spirit of philanthropy and would be counted if they were received from a non-government donor may be included in campaign totals if approved by the President. 8.0 Campaign Gift Types, Counting and Crediting Guidelines Carleton University will adhere to all current Canada Revenue Agency guidelines for the valuation of assets transferred to the University. Should Canada Revenue Agency guidelines change, our gift valuation policies may also require amendment. 9.0 Cash, Cheques, Credit Card and Money Orders 9.1 Outright gifts made by cash, cheque, credit card or money order will be reported at full value as of the date received (including foreign currency exchange where applicable.) A donation receipt will be issued for the face amount of the gift. 9.2 Pledges of cash will be accepted in written form and will express a commitment by the donor to contribute a specific dollar amount, to be paid according to a fixed time schedule. Pledge payment periods, regardless of when the pledge is recorded, should not exceed a period of five years. 6 5 Under Canada Revenue Agency rules, a service provide may choose to accept payment and then make a voluntary gift of all or a portion of their payment. 6 Carleton recognizes that there may be special circumstances that justify a longer payment period. Exceptions must be approved by the Chief Development Officer prior to the pledge being booked. 4

5 9.3 Charitable receipts will not be issued in acknowledgment of a written pledge. However, payments received on a pledge will receive an official charitable tax receipt Marketable (Publicly Traded) Securities 10.1 University practice is to immediately liquidate all gifts of marketable securities. Gifts of marketable securities will be credited to the Campaign for Carleton, based on the valuation on the closing market price on the date the gift is received by the University (the legal gift date.) If there is no closing price on that day, the closing price on the last preceding day for which there was a closing price will apply For gifts of marketable securities donated from an estate will be credited to the Campaign for Carleton based on the valuation on the date of death of the donor and not on the date the gift is received by the University When shares are transferred electronically, delivery occurs when the shares are received into the University s custodial account with our designated broker When securities are couriered or hand delivered to Carleton, they will be credited to the Campaign for Carleton when received by the University based on the market value of the securities on the legal gift date. Share certificates received in this way will be considered legal gifts as of the date of registration in the institution s name Flow-Through Shares Gifts of flow through shares will not be counted as a pledge to the Campaign for Carleton until the shares gifted can be publically traded. The university may require an independent appraisal of the value of the shares before accepting the gift and issuing a tax receipt. The university will also consider the liquidity of the shares before accepting them to ensure the value of the gift Closely Held Stock A gift of closely held stock (stock in a privately owned company) will be reported at the fair market value placed on them by a qualified independent appraiser as required by the Canada Revenue Agency for valuing gifts of stocks that are not publicly traded. As there is no guarantee that the security can or ever will be sold, offers of gifts of closely held stock will be brought to the Vice President, Finance and Administration for discussion prior to acceptance Gifts of Real and Personal Property Real property (land, natural resources and any permanent building on it) and personal property becomes a gift to the University when a transfer of ownership has taken place. These types of gifts will be counted as part of the Campaign for Carleton totals at the fair market value of the property as determined by an accredited independent appraiser Gifts in Kind Gifts in Kind must be approved in writing by the receiving department or unit on campus. Donors will only qualify for a charitable receipt once the Departmental Declaration, the Donor Declaration and the Appraisal document are completed. Gifts in kind will be counted in Campaign for Carleton totals at their full fair market value as substantiated by a qualified appraisal Sponsorship To qualify as a campaign contribution, a sponsorship contribution must meet all the following factors: 7 Refer to Carleton University s Gifts in Kind Policy. This policy is due for review in September

6 The contribution must be from a person or corporation engaged in a trade or business. The sponsor should not expect or receive a substantial return benefit other than name acknowledgement and/or promotional value. Promotional value should be limited to o sponsor s name, phone, web and mail address o value-neutral description of sponsor s products and services o sponsor s brand/trade name or product/service listings There must be no qualitative or comparative advertising of a sponsor s products or services (such as price, savings, value, purchase/sale inducements etc.) The sponsorship should not be contingent on event attendance, ratings, or public exposure. Exclusive vendor relationships (such as fees received for pouring rights), trade-outs (such as free hotel rooms or transportation) and donations of athletics equipment (shoes, uniforms etc.) are not gift and are not eligible to be counted Irrevocable Life Income Gifts: Charitable Remainder Trust, Gift Annuity 16.1 Charitable Remainder Trusts: Once complete and irrevocable, all charitable remainder trusts will be counted toward the campaign at the present value, based on actuarial tables of the remainder interest of the assets/property in the trust Charitable Gift Annuities: Charitable gift annuities will be counted toward the campaign at the value of the charitable portion agreed to by the donor once the irrevocable agreement is signed and the gift received Realized Bequests and Other Testamentary Distributions 17.1 Unrestricted bequests will be considered as unrestricted gift revenue and shall be distributed by the President upon the recommendation of the Campaign Steering Committee Bequests received during the campaign period will be counted in Campaign for Carleton totals if the expectancy was not previously counted Life Insurance 18.1 To count gifts of life insurance, Carleton University must be both the owner and irrevocable beneficiary of the policies Paid-up Life Insurance Policies: Paid-up insurance policies will be counted at the cash surrender value at the date of the gift, and reported as a current outright gift Existing Policies Not Fully Paid-up: A life insurance policy that is not fully paid up on the date of contribution, which is given to Carleton during the period of the campaign, will be counted at the existing cash surrender value and reported as an outright gift Realized Death Benefits: The insurance company s cash settlement amount for an insurance policy whose death benefit is realized during the campaign period, whether the policy is owned by the institution or not, will be counted in campaign totals, provided no gift amounts in connection with said policy (cash value of gifted policy or cash premiums received) were previously counted in campaign totals Term Life Insurance Policies: Term Life policies will not be counted in the Campaign for Carleton. 6

7 19.0 Grants Charitable grants from non-governmental sources will be included in Campaign for Carleton totals like outright gifts once received Campaign proceeds shall be distributed as follows: 20.1 Restricted Contributions These are contributions received during the Campaign for Carleton that have been restricted by the donor to fund a particular project or priority. It is a fundamental policy that donor instructions attached to restricted contributions, once accepted by the University, shall be honoured Unrestricted Contributions (including unrestricted bequests) All contributions not otherwise restricted by the donor for specific use will be considered unrestricted revenue and shall be distributed at the discretion of the President Definitions of Gift Types 21.1 Outright gifts involve an immediate transfer of cash or property to Carleton University. Gifts may be restricted by the donor for a certain purpose or use 8, or they may be unrestricted Restricted gifts are given for a particular purpose designated by the donor and should ideally be directed to one or more of the featured objectives or priorities in the Campaign for Carleton case statement. Restricted gifts (i.e. for existing student support) may also be received for other objectives and counted toward the campaign totals if realized or pledged during the campaign Outright gifts restricted by the donor for current operations or capital purposes will be reported in a manner consistent with CASE reporting standards A gift may be expendable usable for current purposes (either operational or capital purposes) or it may be endowed retained for investment and only the interest may be used Deferred gifts are gift commitments secured during Campaign for Carleton solicitation which will be realized at an undetermined time in the future Non-Monetary Gifts can be either marketable property (publicly traded securities, real property, and saleable personal property), or Gifts in Kind which are gifts that will be used in the form in which they are given (art, books, equipment etc.) 22.0 Correct Legal Name 22.1 All contributions regardless of value, form or designated use should be made payable to: Carleton University. Cheques made payable to the Campaign for Carleton may also be accepted Donors (especially non-alumni donors) living in the United States of America may make donations through the Carleton University Foundation US and designated toward the Campaign for Carleton. 8 Gifts may be restricted in several ways. For example, a donor may restrict a gift to the Sprott School of Business, but may also add the additional restriction that their donation must be used for scholarships. The key priority of the donor should be clearly established in the gift or endowment agreement. 9 CASE Reporting Standards & Management Guidelines for Educational Fundraising, 4 th Edition, July

8 23.0 Laws 23.1 Tax Laws: Federal and provincial governments in Canada encourage voluntary gift support of charitable organizations such as Carleton University, and allow substantial tax relief to donors. The significance of these tax laws obligate the Department of University Advancement to record and acknowledge all gifts received as per Canada Revenue Agency rules. The Canada Revenue Agency Registered Charity registration number for Carleton University is: RR In cases where contributions are directed to the Carleton University Foundation US, the university will issue acknowledgement of these contributions as required by the Internal Revenue Service Privacy, Equity and Human Rights: Carleton University is committed to protecting the privacy of our donors, alumni, students and employees and complies with the Freedom of Information and Protection of Privacy Act (FIPPA.) In addition to the above, all advancement activities under the Campaign for Carleton will comply with Carleton University s Human Rights Policies and Procedures 11 and will conform to the guidelines of the Ontario Human Rights Code Procedures for Gift Solicitation 24.1 Projects approved for funding within the Campaign for Carleton case statement will be defined as Campaign Priorities. Such projects will receive fundraising priority, thereby ensuring that the expenditure of campaign staff time and budget resources is dedicated to the achievement of the stated campaign objectives Other projects identified on the approved table of needs, but not identified as Campaign Priorities by the President may also be referenced in the case for support and may receive campaign funding. These projects cannot demand substantial campaign staff or volunteer solicitation time and budget. Where such projects are identified through campaign activity, they will only be actively pursued where it is apparent that interested donors (not otherwise identified as prospects for approved Campaign Priorities) have expressed a specific interest and are wishing to make a gift contribution through the Campaign for Carleton Donor Records 25.1 The Department of University Advancement will retain all original pledge cards/letters of intent, web print-outs and all necessary supporting documentation for gifts as required by Canada Revenue Agency taxation law Copies of all correspondence (including original donor correspondence, letters of transmittal and appropriate envelopes pertaining to contributions) received with each gift (cash or cheque) will be retained by the Department of University Advancement for filing either in hard copy or electronically Complete donor records will be maintained by the Department of University Advancement as per the Advancement Data Policy 13. These records will include information received during the Campaign for Carleton. All donor record information will be maintained in confidence, and may include letters of intent, pledge cards, gift and endowment agreements, legal documents and copies of Wills. 10 See Carleton s Access to Information and Protection of Privacy Policy at at-carletonuniversity/ 11 See policy at 12 See web-site 13 Advancement Data Policy, December It is due for revision in December

9 25.4 Original copies of legal documents and endowment agreements such as annuity agreements and Wills are to be kept in the Office of the University Secretariat. Scanned, signed electronic copies will be kept securely within the Department of University Advancement Gift and Pledge Processing Procedures 26.1 All gifts and pledges must be processed by the Department of University Advancement. Individual units or departments on campus are not permitted to deposit charitable gifts Contributions in the form of cash, cheque or money order are to be sent directly to the Department of University Advancement for processing. All gifts require a completed gift card Completed pledge forms will be directed to the Department of University Advancement for processing, along with a Letter of Intent, a confirmation from the donor, or other supporting correspondence. Pledges will not be booked unless appropriate documentation is on hand Completed documentation (Donor Declaration, Departmental Declaration and Appraisal) for Gifts in Kind are to be sent to the Department of University Advancement for processing Mailing Address The Campaign for Carleton mailing address is: Campaign for Carleton Carleton University Department of University Advancement Room 510, Robertson Hall 1125 Colonel By Drive Ottawa, ON K1S 5B Receipting and Gift Acknowledgement 28.1 All contributions, regardless of value or designated use, will be acknowledged with official correspondence prepared and distributed by the Department of University Advancement. (See Contribution Acknowledgement procedures) 28.2 All charitable contributions will be: Receipted (using a Carleton University pre-numbered receipt or reported on an employee s T-4 slip); and Deposited into the correct Banner designation in order to be counted in campaign reporting 28.3 All pledged contributions will be: Recorded into the correct Banner designation in order to be tracked for campaign reporting 28.4 The Gift Administration Officer and Gift Administration Clerk(s) will manage the distribution of receipts and acknowledgement correspondence. During the pledge payment period, they will facilitate the pledge administration process Gifts made by Payroll Deduction 14 See Gift Approval Process and Control Sheet 9

10 Full-time continuing employees of Carleton University may choose to make contributions to the Campaign for Carleton through payroll deduction. Arrangements for the amount of the gift, frequency of the deduction (no less than 6 months), and the period over which deductions will be made, are to be made by the employee by contacting staff in the Department of University Advancement. Payroll deduction pledges should be made in writing either in the form of , letter, memo or other form produced by Advancement for this purpose. Gift Administration staff will advise Human Resources of these pledges and arrange for the deductions Donor Recognition Recognition for gifts and pledges to the campaign will adhere to the Campaign for Carleton Donor Recognition Plan The Chief Development Officer, or his/her designate, will report campaign totals to the Financial Planning Group each quarter and to the Community Relations and Advancement Committee of the Board of Governors at each meeting. Contacts: Chief Development Officer Links to related Policies: Gifts in Kind Philanthropic Naming Commemorative Naming Gift Acceptance Policy Fundraising Policy Advancement Data Policy 10

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