GIFT ACCEPTANCE AND RECOGNITION

Transcription

1 POLICY : CS-01 COLLEGE SERVICES (FORMERLY THE DONATIONS POLICY) Reviewed Executive Team November 4, 1997 Approved Interim Governing Authority November 14, 1997 Approved Board of Governors May 28, 1998 Reviewed Fund Development Council June 8, 2006 Reviewed Executive Team June 20, 2006 Approved Board of Governors June 27, 2006 Reviewed Fund Development Council May 8, 2007 Reviewed Executive Team April 24, 2007 Approved Board of Governors May 22, 2007 Reviewed Executive Team February 25, 2008 Reviewed Fund Development Council June 5, 2008 Approved Board of Governors June 24, 2008 Approved President March 9, 2010 POLICY As a registered charity, Bow Valley College (the College ) accepts appropriate monetary gifts and gifts-in-kind which are used to advance the College s Mission and support learning and learners. The College recognizes and appreciates the generosity of individuals, businesses and organizations that invest in our students, programs and services. Gifts received by the College are acknowledged in a manner acceptable to the donor, the College and fitting within Canada Revenue Agency (CRA) guidelines. Donor recognition benefits are based on the level of the gift as outlined in the attached Donor Recognition Table. Recognizing the financial investment made by our private supporters demonstrates the importance of these partners in the fulfilment of our Mission and the advancement of the College. The College reserves the right to decline any gift with or without explanation to the donor. SEE OTHER RELATED POLICIES: Annual Campaign Campaign Approval and Communication Endowments Naming Sponsorship Page 1

2 GUIDELINES Acceptance of Gifts 1. A gift is a voluntary transfer of property without expectation of a benefit of any kind. 2. All gifts are reviewed and approved by the Chief Development Officer, subject to College policy. Where a gift is found unsuitable and/or in violation of the laws, statutes and ethical principles governing Bow Valley College, the gift will be respectfully declined. 3. Monetary gifts, both solicited and unsolicited, for College projects/campaigns approved by the Executive Team, will be processed by the Chief Development Officer. 4. As gifts-in-kind donations generally have future operating and/or capital budget implications, the College will review the acceptance of such donations. All such gifts, regardless of the point in the organizational structure at which they are first offered, must begin the review/approval process with the department head(s) which will ultimately put the gift to use. Responsibility for final approval rests with the Chief Development Officer and the Vice President, College Services. 5. The College reserves the right to refuse any Gift of Securities that are not traded on a public exchange or whose liquidity or value is in question or not clearly available at the time of the gift. 6. Gifts from Tobacco companies will not be accepted. Processing of Gifts 1. Charitable Tax Receipts, as applicable, will be issued by the Fund Development Office. 2. All gifts-in-kind will be processed by the Fund Development Office and then forwarded to Business Information Services and Ancillary Services (where applicable) to ensure that inventory controls, such as the recording of serial numbers, and the assignment of College inventory numbers, are applied. The Fund Development Office will obtain documented proof of the value of the gift from: o two or more objective third-party sources on all gifts > $1,000. o an appraisal conducted by an internal qualified College staff member on those gifts < $1, An electronic transfer is the preferred method of receiving Gifts of Securities. Page 2

3 4. Gifts of Securities received will be sold immediately upon receipt so as not to assume undue market risk unless it is specifically requested by the donor to hold the Gift of Securities and it is determined by the Chief Development Officer and the Vice President, College Services that it is in the best interest of the College to do so. 5. Gifts of Securities are considered to be delivered once they have been received by the College s financial institution. Gifts of Securities will be valued for receipting and recognition purposes based on the high bid value on the day the ownership of securities is received by the financial institution representing the College. 6. Commission charges resulting from the transfer of Gifts of Securities will be assumed by the College. Charitable tax receipts issued will be based on the gross value of the Gift of Securities. 7. Monetary gifts will be forwarded to Business Information Services upon receipt and placed in appropriate accounts to ensure that the gifts are spent in accordance with the wishes of the donor. Every reasonable effort will be made to ensure that the wishes of the donor are met. 8. No spending shall take place on the basis of anticipated income without the approval of the Executive Team. 9. All goods and services purchased with donated funds will be acquired, received and paid for in accordance with College Policies and Procedures. Recognition of Donor 1. The College adopts the principles outlined in: The Donor Bill of Rights (attached). Association of Fundraising Professionals (AFP) Code of Ethical Principles and Standards of Professional Practice (attached). 2. The Chief Development Officer is responsible for all aspects of donor recognition. 3. Key leaders within the College community have a critical role in the development and continuation of a donor s relationship with the College and will be called on by the Chief Development Officer to steward these valuable relationships. 4. Donor recognition is subject to, and consistent with, College-wide donor policies. 5. Donor recognition shall equitably acknowledge the support of governments, foundations, associations, corporations and private individuals. 6. Donor recognition shall be subject to donor wishes as to confidentiality. Donors requesting anonymity shall be omitted from all public displays and publications. Page 3

4 7. Individual donors are required to give consent prior to the College publicly recognizing their gift, as required by Alberta s Freedom of Information and Protection of Privacy Act. 8. Donations of $100,000 and greater will receive a customized recognition and stewardship plan. Plans may also be developed by donors of amounts below $100,000 on a case-by-case basis. 9. Donor recognition programs shall, to the extent feasible, highlight the benefits to the community, our society and the end-users, especially the students and staff of the College. 10. An amount not to exceed one per cent (1%) of all donations of $10,000 or more shall be allocated to donor recognition programs. 11. Potential donor recognition requirements, such as donor walls, shall be considered at the conceptual and detailed planning stages of new buildings and the re-development of existing ones. 12. Recognition benefits have been established for the various giving levels (attached). PROCEDURES Gift Acceptance 1. Staff of the College can actively pursue the possibility of a gift under the value of $10,000. Staff members should discuss these solicitations with their supervisors. 2. Having ascertained the possibility of a gift over $10,000 the appropriate department head notifies the Chief Development Officer who will review the appropriateness of the gift. 3. The Fund Development Office issues appropriate receipts for tax purposes to the donor in a timely manner. 4. Confidential records are kept in the Fund Development Office in accordance with the procedures of and the laws and statutes governing charities and public colleges. 5. The Chief Development Officer makes an application for any available matching grants in a form consistent with the requirements of the relevant agency or branch of government. 6. Fundraising accounts of the college are maintained and utilized in a manner consistent with established procedures. Page 4

5 7. The Chief Development Officer answers to and informs the Fund Development Council of the Board of Governors on a regular basis with regards to activities. Donor Recognition 1. All thank you letters are processed by the Fund Development Office within seven working days of receipt of donation. 2. Tax receipts are issued for gifts of $10 or more by the Fund Development Office. a. Tax receipts are issued for donation amounts less any advantage received. b. Gifts of property will be receipted on the basis of fair market value. Fair market value is the selling price of that property as of the donation date (not including taxes). c. Gifts of Service are not eligible for a tax receipt. d. Gifts in Kind valued at more than $1,000 must be accompanied by two or more third-party appraisals and approved by the Chief Development Officer. e. Gifts in Kind valued under $1,000 are approved by the Department Head. f. According to Canada Revenue Agency regulations, the College does not issue charitable tax receipts to other registered charities including foundations. Gift Acknowledgment Letters will be used to acknowledge such non-receiptable gifts. g. Tax receipts for Gifts of Securities will be issued for the highest value on the day the ownership of securities is received by the financial institution representing the College. Note this amount may differ from the actual gross amount of the transfer which is based on the day shares are sold. h. Tax receipts for Gifts of Securities must contain the following additional pieces of information: i. The financial institution where the securities were transferred from ii. The name or stock symbol of the transferred shares iii. The number of shares transferred iv. The value of each share 3. The Fund Development Office, in consort with appropriate departments and leadership within the College, coordinates all aspects of donor recognition events, naming and other public displays. 4. The Fund Development Office is responsible for the Donor Wall. 5. Each Student Awards Program booklet includes a page acknowledging donors and how a further donation can be made to the College. Page 5

6 DONOR BILL OF RIGHTS PHILANTHROPY is based on voluntary action for the common good. It is a tradition of giving and sharing that is primary to the quality of life. To assure that philanthropy merits the respect and trust of the general public, and that donors and prospective donors can have full confidence in the not for profit organizations and causes they are asked to support, we declare that all donors have these rights: I. To be informed of the organization s mission, of the way the organization intends to use donated resources, and of its capacity to use donations effectively for their intended purposes. II. To be informed of the identity of those serving on the organization s governing board, and to expect the board to exercise prudent judgement in its stewardship responsibilities. III. To have access to the organization s most recent financial statements. IV. To be assured their gifts will be used for the purposes for which they were given. V. To receive appropriate acknowledgement and recognition. VI. To be assured that information about their donations is handled with respect and with confidentiality to the extent provided by law. VII. To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature. VIII. To be informed whether those seeking donations are volunteers, employees of the organization or hired solicitors. IX. To have the opportunity for their names to be deleted from mailing lists that an organization may intend to share. X. To feel free to ask questions when making a donation and to receive prompt, truthful and forthright answers. DEVELOPED BY American Association of Fund Raising Counsel (AAFRC) Association for Healthcare Philanthropy (AHP) Council for Advancement and Support of Education (CASE) Association of Fundraising Professionals (AFP) ENDORSED BY (in formation) Independent Sector National Catholic Development Conference (NCDC) National Committee on Planned Giving (NCPG) Council for Resource Development (CRD) United Way of America AFP CODE OF ETHICAL PRINCIPLES AND STANDARDS OF PROFESSIONAL PRACTICE Statement of Ethical Principles Adopted 1964; amended October The Association of Fundraising Professionals (AFP) exists to foster the development and growth of fundraising professionals and the profession, to promote high ethical standards in the Page 6

7 fundraising profession and to preserve and enhance philanthropy and volunteerism. Members of AFP are motivated by an inner drive to improve the quality of life through the causes they serve. They serve the ideal of philanthropy; are committed to the preservation and enhancement of volunteerism; and hold stewardship of these concepts as the overriding principle of their professional life. They recognize their responsibility to ensure that needed resources are vigorously and ethically sought and that the intent of the donor is honestly fulfilled. To these ends, AFP members embrace certain values that they strive to uphold in performing their responsibilities for generating philanthropic support. AFP MEMBERS ASPIRE TO: practice their profession with integrity, honesty, truthfulness and adherence to the absolute obligation to safeguard the public trust; act according to the highest standards and visions of their organization, profession and conscience; put philanthropic mission above personal gain; inspire others through their own sense of dedication and high purpose; improve their professional knowledge and skills, so that their performance will better serve others; demonstrate concern for the interests and well being of individuals affected by their actions; value the privacy, freedom of choice and interests of all those affected by their actions; foster cultural diversity and pluralistic values, and treat all people with dignity and respect; affirm, through personal giving, a commitment to philanthropy and its role in society; adhere to the spirit as well as the letter of all applicable laws and regulations; advocate within their organizations, adherence to all applicable laws and regulations; avoid even the appearance of any criminal offence or professional misconduct; bring credit to the fundraising profession by their public demeanour; encourage colleagues to embrace and practice these ethical principles and standards of professional practice; and be aware of the codes of ethics promulgated by other professional organizations that serve philanthropy. STANDARDS OF PROFESSIONAL PRACTICE Furthermore, while striving to act according to the above values. AFP members agree to abide by the AFP Standards of Professional Practice, which are adopted and incorporated into the AFP Code of Ethical Principles. Violation of the Standard may subject the member to disciplinary sanctions, including expulsion, as provided in the AFP Ethics Enforcement Procedures. PROFESSIONAL OBLIGATIONS Giving Societies 1. Members shall not engage in activities that harm the member s organization, clients, or profession. 2. Members shall not engage in activities that conflict with their fiduciary, ethical and legal obligations to their organizations and their clients. 3. Members shall effectively disclose all potential and actual conflicts of interest; such disclosure does not preclude or imply ethical impropriety. 4. Members shall not exploit any relationship with a donor, prospect, volunteer or employee for the benefit of the member or the member s organization. 5. Members shall comply with all applicable local, state, provincial, federal, civil and criminal laws. 6. Members recognize their individual boundaries of competence and are forthcoming and truthful about their professional experience and qualifications. SOLICITATION & USE OF PHILANTHROPIC FUNDS 7. Members shall take care to ensure that all solicitation materials are accurate and correctly reflect the organization s mission and use of solicited funds. 8. Members shall take care to ensure that donors receive informed, accurate and ethical advice about the value and tax implications of contributions. 9. Members shall take care to ensure that contributions are used in accordance with donors intentions. 10. Members shall take care to ensure proper stewardship of philanthropic contributions, including timely reports on the use and management of such funds. 11. Members shall obtain explicit consent by the donor before altering the conditions of contributions. PRESENTATION OF INFORMATION 12. Members shall not disclose privileged or confidential information to unauthorized parties. 13. Members shall adhere to the principle that all donor and prospect information created by, or on behalf of, an organization is the property of that organization and shall not be transferred or utilized except on behalf of that organization. 14. Members shall give donors the opportunity to have their names removed from lists that are sold to, rented to, or exchanged with other organizations. 15. Members shall, when stating fundraising results, use accurate and consistent accounting methods that conform to the appropriate guidelines adopted by the American Institute of Certified Public Accountants (AICPA)* for the type of organization involved. (* In countries outside of the United States, comparable authority should be utilized.) COMPENSATION 16. Members shall not accept compensation that is based on a percentage of contributions; nor shall they accept finder s fees. 17. Members may accept performance-based compensation, such as bonuses, provided such bonuses are in accord with prevailing practices within the members own organizations, and are not based on a percentage of contributions. 18. Members shall not pay finder s fees, or commissions or percentage compensation based on contributions, and shall take care to discourage their organizations from making such payments. Page 7

8 Encourage $10 - $999 Dream $1,000 - $4,999 Build $5,000 -$9,999 Believe $10,000 - $49,999 Connect $50,000 - $99,999 Create $100,000 - $499,999 Inspire $500,000 - $999,999 Lead $1,000,000 + Bow Valley College Donor Recognition *Benefit associated with the Improving Lives Beyond the Classroom Campaign. Benefits are based on cumulative Campaign donations. Official charitable tax receipt and letter of appreciation from the Chief Development Officer Recognition of donor in Annual Report (with permission) Invitation to attend Campaign Celebration Wrap-up Event* Donor Wall Recognition Recognition on Bow Valley College website Receipt of Campaign Newsletter* and Bowline Invitation to participate in student award donor event (where appropriate) Personal acknowledgement from solicitor/volunteer Receipt of Annual Report Naming opportunity where appropriate (in accordance with Naming Policy) Personal acknowledgement from Chief Development Officer Feature story in Campaign Newsletter* Podium recognition at Campaign Celebration Wrap-up Event* Customized recognition plan designed with donor Personal phone call from President Reception with the President and Board of Governor s Chair Campaign feature in local print media* Page 8