Note: The gift acceptance policy is currently under review by the Foundation and the College. Formal approval is pending.
Gifts to the Foundation may be in the form of outright gifts, pledges, or deferred commitments. While the Foundation’s gift acceptance policy is intended to provide guidance to donors as well as to the Foundation and other College personnel regarding acceptance of prospective gifts, donors are ultimately responsible for ensuring that the proposed gift furthers their charitable, financial, and estate planning goals. The Foundation does not provide legal, accounting, tax, or other advice to prospective donors. Therefore, each prospective donor is urged to seek the advice of independent legal counsel in the gift planning process.
Through the promotion of voluntarism and philanthropy, the Foundation provides central support, resources, expertise and guidance. It is an important obligation of the Foundation to record and acknowledge all gifts received. The George Brown College Foundation is responsible for issuing official charitable receipts for all charitable gifts received by the Foundation in compliance with the requirements of the Income Tax Act, and in accordance with procedures established by the College’s Board of Governors.
The George Brown College Foundation is a registered charity under Canada Revenue Agency guidelines. Its business number is 119234748 - RR0001.
This policy has been established to:
- Ensure that informed decisions are made on the acceptance of gifts and that such gifts are receipted in accordance with the requirements of the Income Tax Act.
- Ensure that efficient administrative, legal, and accounting practices and procedures are followed.
- Enable accurate reporting and recognition of gifts bestowed upon the College.
- Ensure consistent, equitable relations with donors, partners and sponsors.
The College and Foundation are grateful for the private support they receive and are committed to the following procedures in accepting donations:
- Designated gifts will be used for the purposes for which they are provided and in support of the College’s mission and academic priorities.
- Undesignated gifts will be used to support the academic mission in ways that the College decides will best serve its priorities.
- Accountability to donors must be of the highest calibre, through appropriate acknowledgment, and accurate and timely reporting by the relevant Foundation officer. Where appropriate, gift agreements will be recorded between donors and the Foundation and these will be adhered to by the College and the Foundation.
- All donations will be recorded and receipted in accordance with the rules and regulations set out by the Canada Revenue Agency.
- Recognition of donors, including naming of funds, programs or physical spaces, will be determined in accordance with the Foundation’s policy on philanthropic naming. Anonymity will be granted to any donor who makes this request.
The George Brown College Foundation is responsible for ensuring that the College and Foundation abide by these procedures. Should any member of the community question the appropriateness of a proposed gift, they may ask for clarification from the Foundation. If the concern persists, they may submit a written appeal to the Vice President, Advancement for review by the Board of the Foundation.
A gift may be declined under the following circumstances:
- The gift is designated and fulfilling the donor’s expectations would require other resources that are unavailable or inadequate.
- The gift is designated and is intended to support programs or activities peripheral to the mission of the College.
- Acceptance of the gift would limit academic freedom.
- The gift could injure the reputation or standing of the College or would generate such controversy as to defeat the educational purpose to be served.
As a matter of principle, neither the George Brown College Foundation, nor any other College department, will engage in any of the following practices:
- Accepting gifts that violate federal, provincial or municipal laws.
- Accepting gifts that require the College to provide special consideration for admission to or continued attendance at the College for the donor or designate.
- Accepting gifts that require the College to deviate from its normal hiring and promotion and contracting procedures.
- Accepting gifts that violate the Ontario Human Rights Code or the College’s Equity and Human Rights Policies.