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  • Related Documents:  Coordination of Donation Appeals and Gift Acceptance Policy
  • Approval Dates:  August 1989, January 2001, January 2004, August 2007
  • Approved by:  Vice President, University Advancement
  • Jurisdiction:  Vice President, University Advancement administered in consultation with the President; Vice President, Administration and Finance; Provost and Vice President Academic

Procedure

Approval of Fundraising Objectives

  1. Appeals for funds and/or equipment must be submitted in writing to the departmental chair/director who will examine and assess both the need for and effects of the donation.  If the request is deemed to be an academic/divisional priority, the chair/director will forward the request, documenting the need for and benefits of the donation, to the appropriate dean/senior director for their consideration.
  2. If the appropriate dean/senior director deems the request to be an academic/institutional priority for Ryerson, they will forward the request and chair/director’s documentation, along with a recommendation as to the importance of the acquisition, to the appropriate vice president for his/her consideration.
  3. If the vice president determines that the request is a University academic/institutional priority, they will forward all documentation to the Vice President, University Advancement, asking that University Advancement work with the Faculty or division concerned in an attempt to secure private sector support for the appeal.  University Advancement will determine, through a coordinated prospect clearance process, which donors/prospective donors will be approached for what University need, with a view to ensuring the maximum possible revenue for Ryerson University.  Senior faculty/chairs/deans/vice presidents will be invited to participate in the cultivation and solicitation of prospective donors for their approved academic/divisional priorities.

Processing and Accepting Gifts-in-Kind

Gift-in-kind Valuation must be carried out according to the following procedures

  1. All departments, schools, divisions, or faculty must first contact University Advancement prior to accepting any gifts-in-kind.  University Advancement manages the process of confirming valuation for tax receipting purposes according to Canada Revenue Agency regulations.
  2. University Advancement will provide a Gift-in-Kind Information Form to be filled out by a representative of the area of the University interested in receiving the gift-in-kind.  This form outlines all relevant information about the proposed gift-in-kind.  This information is used to determine the need and the valuation for tax receipting purposes.
  3.  If the department/school/division/faculty requires, University Advancement will then contact the donor to facilitate the process of determining the appropriate valuation of the gift.
  4.  University Advancement will ensure that a fair market value is established according to Canada Revenue Agency regulations and guidelines, and that appropriate appraisal documentation, with necessary backup information, is obtained before a charitable income tax receipt is issued.
  5. When the gift-in-kind is accepted by the University, the donor will be required to sign a Gift-in-Kind Donor Declaration Form or gift agreement that includes a provision that the donor is making the gift of his/her free will without receiving any material consideration or benefit except for a charitable income tax receipt for the assessed fair market value.

Gift-in-kind Appraisals must meet the following Canada Revenue Agency Regulations and Guidelines

For donations valued at less than $1,000

  • An internal expert may establish the fair market value, stating the basis used for the estimate and any other pertinent information.

For donations valued at $1,000 or more

  • A fair market value must be established by reference to published price lists for items, which are new and comparable.  If a value cannot be established by this means by the donor or University Advancement, University Advancement will obtain a fair market value assessment from an independent appraiser who is an expert in his/her field.  Payments of appraisal fees are the responsibility of the donor unless otherwise agreed to by the University.
  • For gifts-in-kind of such artworks, jewellery or antiques, at least two independent appraisals are required, and the receipted value will be the average of the two appraised values.  Gifts up to $50,000 to the Ryerson Image Centre can accepted and receipted with one appraisal.
  • For books and other materials being donated to the Library, the University’s Acquisitions and Technical Services Librarian will determine what gifts will be accepted to the university.
  • Current information on Canada Revenue Agency regulations for gifts-in-kind can be found online at www.ccraadrc.gc.ca/E/pub/tp/i110r3em/it110r3e.htm#P199_22325.

 

Jurisdiction

This procedure and its associated policy is under the jurisdiction of the Vice President, University Advancement and is administered in consultation with the President, the Vice President, Administration and Finance, and the Provost and Vice President Academic.