Donation receipts will only be issued once the gift is the legal property of the foundation. The Treasurer or Executive Director/CEO signs donation receipts. Receipts will be issued within one month of receipt by the foundation.

Donation receipts will include the following information:

• Name and address of the donor
• Name and address of the foundation
• Date gift was received
• Foundation's charitable registration number
• Website address of the Canada Revenue Agency
• Amount of donation
• Description of donation if in-kind (i.e. non-cash)

 If a donor wants to make a donation to a specific fund or to a specific general field of interest fund, there should be documentation that they are making a gift to that fund. This may simply be a note accompanying the gift that it is being made to a particular fund. You don't necessarily need (or want) a formal agreement with the donor or a formal donor designation. The reason is that the terms of that fund are not being set by the donor, they are set by the existing terms of the fund.

Donation receipts for publicly traded securities will be based on a reasonable and consistently applied determination of fair market value at the time legal ownership is transferred to the Foundation, supported by broker and market documentation and subject to the deemed fair-market-value and split-receipting rules.

One copy of the donation receipt, filed in numerical order, will be held for seven years. This can be an electronic copy. One copy of the receipt for a gift to an established fund will be kept in the fund file.

Donation receipts for special events will be in accordance with regulations of the Charities Directorate of the Canada Revenue Agency.

Canadian Law and Regulatory Compliance

Official receipts will be issued only for qualifying gifts and will contain every element prescribed by the Income Tax Regulations, including the statement that the document is an official receipt for income tax purposes; the Foundation's name and address as recorded with the CRA; unique serial number; registration number; place and date of issue; date or year of gift; donor's full name and address; amount of a cash gift or description and fair market value of a non-cash gift; any advantage and eligible amount; authorized signature; and the CRA website address.

No receipt will be issued for services, pledges, loans, most sponsorship payments, gift certificates donated by the issuer, or a transfer over which the donor retains control. For events, cause-related marketing and other transactions involving an advantage, the Foundation will apply the intention-to-make-a-gift and split-receipting rules and document the fair market value of each advantage.

Altered or duplicate receipts will be cancelled and replaced using CRA-compliant controls. Receipt records and supporting source documents will be retained for the periods required by the Income Tax Act and the Record Retention Policy. Electronic receipts will be protected against unauthorized alteration and duplication.

Application note: This template must be read with the Foundation's articles, bylaws, gift terms and the federal, provincial or territorial laws that apply to its incorporation, activities and operating jurisdictions. Organization-specific facts and provincial requirements require lawyer confirmation before adoption.

Monitoring: This policy will be reviewed every three years.

Board Acceptance: This policy was approved/reaffirmed at the____________Board meeting.