The acceptance of donations policy aims at clarifying the principles that guide SEMBEQ regarding the acceptance of donations made to him, the assurance for the donor that informed decisions are made and the guarantee to the directors of the of SEMBEQ that the general management effectively manages the activities of the fundraising. Fundraising and development activities of SEMBEQ, including acceptance of donations, respect the fundamental principles and the Mission of SEMBEQ. In addition, the general management of SEMBEQ will respects the constraints defined, from time to time, by the Board of Directors of SEMBEQ.
Assigned donation: donation assigned to an existing fund or in the process of being.
Capitalized donation: Donor’s request that only the interest or part of the interest generated by the capital investment be spent each year.
Donation: a gift, a pledge or a monetary contribution.
Gift in cash and cash equivalents: Donated money Cash, by cheque, by credit card, by money order, by milking Bank or bank transfer, by withholding on pay and on annuity. The Payment can pass through an Internet payment source.
In-kind donation: Gift in the form of a contribution in service or volunteering.
Kind gift of property: Gift of a moveable or immovable property likely to present a fair market value at the time of the donation.
Planned donation: Bequest by will, trust, life insurance, RRIF, RRSP, etc.
Pledge: Commitment to donate in multiple instalments over a certain time period or a commitment payable in one instalment, but at a later date than the date of the initial commitment.
Real Estate: Depreciable property such as a building.
Tangible and intangible assets: An asset to be used in the state in which it was made, such as: an equipment, a work of art, a historical object, a property to be sold, a security (obligation, share), an insurance policy or any other gift in accordance with this definition.
Unassigned donation: A donation assigned to SEMBEQ general operating fund.
1. Acceptance of donations
a. SEMBEQ can accept the following donations:
- Capitalized donation
- Cash donation and cash equivalents
- Kind gift of property
- In-kind donation
- Planned donation
2. Terms and Acceptance of donations
a. The request for capitalization of a donation (Capitalized donation) must be made expressly in writing and signed by the donor. The capitalization can be made for the entire donation or for a part of it. A portion of the investment interest is used to fund the supported project while the other part is reinvested in capital to preserve its value over the years.
b. An unassigned donation is immediately usable. However, when occurs A delay Prior to the use of the gift, which is explained the desired destination by the donor or by contingencies, the internal capitalization of the of the sums by SEMBEQ Is possible. Internal decapitalization is later possible at any time.
c. All donations done to SEMBEQ must be intended and used exclusively for SEMBEQ purpose.
d. Any unassigned donation and for which the donor did not give any instructions as to the destination and use will be assigned to SEMBEQ general fund and be used, in the best possible way, in accordance with the objectives and responsibilities of SEMBEQ.
e. When the donor requests that his donation be assigned to a specific fund, SEMBEQ is responsible for ensuring that the donation is used in compliance with the fund’s objectives and, to the extent possible, in accordance with the donor’s desired use. If the donor intends to donate for a particular purpose that does not correspond to a fund already existing, SEMBEQ will have to ensure, if the purposes of the donor are acceptable and the amount justifies, that a new fund be set up.
f. Where a restricted fund reaches maturity or cannot be completed for any reason, the board of Directors of SEMBEQ may reassign to other funds, depending on the needs deemed most necessary, the remaining contributions in the restricted fund in question.
g. Acceptance of a gift also relates to the acceptance of the terms of grant or transfer of ownership agreed with the donor.
h. Donations made to SEMBEQ are donations as per Revenue Canada Agency definition. They become the property of SEMBEQ as soon as they are cashed or received and cannot be reimbursed or returned to the donor.
i. An official receipt for tax purposes will be issued at the fair market value at the date of receipt of the donation.
j. In the absence of a recognized fair market value, if the value of the gift is more than $1,000, an evaluation by a recognized independent appraiser will be required. The donor as the responsibility for the evaluation by the appraiser and is carried out at its expense. In some cases, a second assessment may be required by the SEMBEQ Board of Directors.
k. An official receipt for tax purposes will be issued at the fair market value on the date of receipt of the donation, or on the date of the transaction to liquidate the gift in the case of shares or securities.
l. The In-Kind donation does not qualify for an official receipt for tax purposes.
m. Any donation requiring additional and substantial expenses or major adaptations to the management of the Investment Policy requires acceptance of the Board of
Directors of SEMBEQ.
n. Where the situation so requires, in the case of a gift capable of constituting a
particular investment for SEMBEQ, such as an asset, the general management of SEMBEQ will submit a proposal for the donation to the Board of Directors of SEMBEQ.
3. Refusal of donations
a. Under no circumstances SEMBEQ is required to accept a gift that is offered to him or her. In particular SEMBEQ:
MUST REFUSE DONATIONS IN THE FOLLOWING CASES:
- A gift contrary to law or public order;
- A gift that could lead to any form of illegal discrimination;
- A gift which, in the opinion of Board of Directors of SEMBEQ, could jeopardize its autonomy, integrity or mission;
- A gift which, in the opinion of Board of Directors of SEMBEQ would not be in line with its educational or ethical policies;
- A gift for which consideration other than appropriate recognition is expected in return by the donor or any other person designated by him or her, whether that consideration is of a monetary nature or constitutes any other form of benefit;
- A donation that ensures that the donor directly determines the beneficiary, without an appropriate selection mechanism or an acceptable administrative framework;
- A gift whose conditions ensure that the donor retains undue control over the use and management of the sums given.
CAN REFUSE DONATIONS IN THE FOLLOWING CASES:
- A gift which, in the opinion of Board of Directors of SEMBEQ or the
general management of SEMBEQ, would not be useful to them;
- A gift for which the donor cannot establish the legitimacy of the
provenance of the sums;
- A gift that engenders financial or other obligations that are deemed
inappropriate or disadvantageous for the Board of Directors of SEMBEQ or the general management of SEMBEQ;
4. Application of the policy
a. It is the responsibility of the general management of SEMBEQ to apply this policy.
b. The general management of SEMBEQ must seek the opinion the Board of
Directors of SEMBEQ each time it is required by the policy (articles 3.a 3, 3.a 4, 3.a 5 and 3.b 9).
c. A current donor or a potential donor dissatisfied with a decision with respect to the acceptance of his gift proposal will be able to complain to the general
management of SEMBEQ.
d. The general management of SEMBEQ is responsible for the revision of the policy,
minimally every five (5) years.
e. The Board of Directors of SEMBEQ is responsible for the approval of the politique, minimally every five (5) years.