Gifts, Donations and Planned Giving

Please see the Donate to the Library page for more information about how to donate to the Kingston Frontenac Public Library


1. Purpose

The Kingston Frontenac Public Library (the Library) acknowledges the importance of gifts and donations to provide enhancements to the existing programs and services available at the Kingston Frontenac Public Library and capital enhancements which support the Library’s mission and objectives.

The Kingston Frontenac Public Library Board encourages and solicits contributions of cash, securities, and personal and real property as outright gifts that are acceptable to Canada Revenue Agency (CRA) and the laws of the Province of Ontario. The purpose of the policy is 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.

2. Scope

3. Definitions (if applicable)

Fair Market Value (FMV):  FMV means the highest prices, expressed in dollar, that a property would bring in an open and unrestricted market, between a willing buyer and a willing seller who are knowledgeable, informed and prudent, and who are acting independently of one another.  Canada Revenue Agency, “Fair Market Value” P1113 Gifts and Income Tax 2015.

Gift: A voluntary transfer of cash and kind, from individuals, industry, foundations and other sources to the Library for either unrestricted or restricted utilization in the operation of the Library.  Gifts are made without expectation of return; no consideration - no benefit of any kind - to the donor or to anyone designated by the donor, may result from the payment. Gifts may be monetary (cash, cheques) or non-monetary (e.g. securities, real property, or personal property).

Unrestricted Gifts: Gifts, given to the Library, where the donor has not specified the purpose for which the gift is to be used.

Restricted Gifts: Gifts, given to the Library, where the donor has specified that the gift is to be used to support a particular purpose.

Planned giving: Is a philanthropic program by which a donor can arrange a substantial gift to the Library for the future. The emphasis is on planning and is focused on matching the objectives of the Library with the needs and objectives of the donor.

Official Charitable Receipt: The official charitable receipt is a statement issued by the Library to donors that includes the business number issued to the Library by the CRA, a declaration as to the value of the gift, date of the gift and name of the donor. Receipts are normally accepted by the CRA to support the calculation of the allowable "non-refundable tax credits".

4. Guiding Principles

The Library holds itself to a high standard of ethical conduct, both within its own board and staff and in all of its external relationships and interactions.  The Library values and will protect its integrity, autonomy and intellectual freedom, and does not accept gifts when a condition of such acceptance would compromise these fundamental principles.

5. Policy

The Library reserves the right to accept or decline any proposed gifts.

The Library will work closely with the donor to ensure there is a mutually beneficial agreement on the donor’s intent for their gift designation.  In some cases, a gift may not be accepted because the Library is unable to carry out the restrictions set forth by the donor.

Ownership of all gifts directed to Kingston Frontenac Public Library vests in the Library, whether said gifts are for the benefit of the Library generally or for some specific purpose in it.

Acceptance of any gift contribution which involves a proposal to name is conditional upon final approval of the naming by the Board as per the Board’s Naming policy.

Undesignated gifts shall be used for such purposes as the Library judges will best advance its mission and priorities.  Designated gifts shall be used expressly for the purposes for which they are given, which must be consistent with the Library's mission and priorities.

All programs, solicitation plans and activities are subject to Board approval.

Official receipts for income tax purposes will be issued for gifts, which comply with CRA guidelines. Online donations through CanadaHelps.org will be automatically receipted. For donations made by mail and / or in-person, a tax receipt will be mailed when the accumulated donation by the donor reaches $10 in any calendar year. Official receipts for income tax purposes are not routinely issued to charitable organizations and foundations, but may be issued if requested by the donor. Official receipts for income tax purposes are not issued for sponsorships, purchases, or other transactions listed in the Canada Revenue Agency’s Bulletin IT-110R3. These transactions may be acknowledged through issue of a receipt.

Donors are encouraged to discuss the proposed gift with independent legal and/or tax advisors of the donor’s choice so as to ensure that the donor receives a full and accurate explanation of all aspects of the proposed charitable gift.

Gift in Kind

Non-cash gifts in kind donated for and added to the Library’s collections will be receipted based on the fair market value. For gifts greater than $1,000, an independent appraisal is required. The donor will generally be responsible for the cost of obtaining an independent appraisal. The Board may authorize payment of valuation costs by exception.

A contribution of service (time, skills, effort) does not qualify as a gift or gift in kind for purposes of issuing an official donation receipt.

Conditions of Gift Acceptance

The Library will accept gifts of individual items or works of art or collections on condition that they become the property of the Board.  The Board reserves the right to dispense of any items at any time and in any manner.

The final decision to accept or refuse any items rests with the Board.

Library Materials

The Library will accept gifts of books, dvds, music and other materials as long as they are suitable to the needs of the Library.  The same selection and deletion principles apply to gifts as to purchases as per the Library’s Collection Development policy.

The Board maintains the right of review of the material prior to acceptance or refusal.  The Board’s decisions are based upon availability of space, artistic merit, and other relevant criteria, including, but not limited to, affiliation with Kingston or Frontenac County either through the artist or the subject matter.

Privacy

The Kingston Frontenac Public Library is committed to protecting the privacy of our donors and prospective donors. The Library shall maintain donor records, the contents of which shall remain confidential unless the donor agrees otherwise.

All research undertaken by the Library on current and potential donors will be limited to its funding development process and no other purpose.  Research methods will respect the individual’s right to privacy and information will be acquired only through publicly available sources.

Expenditures

All undesignated donation will be directed to a specific purpose where they are most needed as deemed fit by the Chief Librarian or designate. All expenditures of gifts over $50,000 must be approved by the Board.

Financial management

Pledges of $10,000 and over will be accompanied by an agreement signed by the donor and the Chief Librarian, or designate. Pledges may be announced publicly at the shared discretion of the donor and the Library. Expenditures for donor recognition must be guided by the CRA guidelines.

Power to Vary

Should the intended purpose of a gift be changed, the Library will attempt to contact the donor to discuss the change. If obtaining donor permission is not feasible, the Library will choose a designation that aligns most similarly with the donor’s original intent and carry out all recognition plans as originally discussed with the donor.

6. Appendices

7. Authority

8. Document Control    

Original policy date:  2006

Last Reviewed:  October 2014

Changes made:  October 2016 (Board motion # 2016-62)

Next Review: 2020