Gift Acceptance Policy

Policy Statement: Beebe Advent Christian Camp (BACC) may accept gifts that help fulfill its
charitable purpose without causing undue burden or cost.

Definitions:
Gift: In most cases, a gift is a voluntary transfer of property without valuable consideration.
   A transfer of property where the donor receives an advantage may still be considered a gift
   as long as it is done with a clear intention to give.
Intention to give: The amount of the advantage that accrues to the donor does not exceed
   80% of the fair market value of the property transferred.
Advantage: The total value of all property, services, compensation or other benefits to which

   the donor of a property, is entitled as partial consideration for, or in gratitude for, the gift.
Fair market value (FMV): This is usually the highest dollar value that can be obtained for a
   property in an open and unrestricted market, between a willing buyer and a willing seller
   who are acting independently of each other.
Eligible amount of gift: The amount by which the fair market value of the property that is
   the subject of the gift exceeds the amount of the advantage, if any, in respect of a gift.

 

Policy:
   1. Gifts of cash without conditions or restrictions will be accepted by Beebe Advent Christian
       Camp (BACC) gratefully. (See BACC Donor Restricted Gift Policy for addressing gifts with
       conditions or restrictions.)
   2. Non-Cash gifts will be evaluated by at least two Directors of BACC (or Finance Committee)
       for appropriateness before being accepted. Gifts that do not meet criteria will be refused
       with thanks. Approval or rejection of non-cash gifts will be done in writing, signed by the
       directors doing the evaluation. Copies will be provided to both donor and treasurer.
   3. Criteria for acceptance of non-cash gift:
       a. Purpose:
            i. The gift should help BACC meet its charitable purposes as set out in constating

                documents

       b. Practicality:
            i. The gift should be usable in BACC’s charitable work, or
            ii. If not usable, it must be able to be easily liquidated.

   4. Non-cash gifts (gifts-in-kind) should come with a fair market valuation (i.e. receipt for its
       purchase less than three years old, or recent appraisal). An appraisal is required for items
       valued at $1000 or more. BACC reserves the right to rely on its own valuation of the gift.
   5. Contributions of services (time, skills or efforts) are not property and therefore do not
       qualify as gifts for income tax purposes; BACC will not issues official donation receipts for
       services rendered free of charge.

   6. Beebe Advent Christian Camp reserves the right to issue or not issue tax receipts for
       eligible gift donations.
      a. Any tax receipts issued will follow the requirements set forth by the Income Tax Act
          and Canada Revenue.
      b. Receipts will identify total value of donation, advantage to donor (if any), and
          eligible portion of donation.