The Sens Foundation welcomes and encourages gifts from individuals, groups, foundations and corporations, for the purpose of enhancing the services that the Sens Foundation provides to its various stakeholder groups
For income tax purposes, a gift or donation is defined as a voluntary transfer of property to the Sens Foundation made without the expectation that any benefit will accrue to the donor or anyone designated by the donor. The scope of this policy includes gifts of:
- Art and photographic works
- Other in-kind gifts or services
- Property of significant value, such as real estate or securities
- Planned gifts, such as willed donations, bequests or endowments
The Sens Foundation shall analyze proposed gifts or donations, and shall accept those, which they feel will cost-effectively fit the mission and objectives of the Sens Foundation.
The Sens Foundation reserves the right to use the donation in the best interest of the foundation, and shall make decisions regarding the investment, disposition and/or eventual disposal of all donations.
Donations become the exclusive property of the Sens Foundation and must be of a clear and unencumbered nature.
The Sens Foundation may accept conditions on the disposition of donations where it deems the proposed conditions to be reasonable and feasible.
The Sens Foundation shall maintain donor records, the contents of which shall remain confidential unless the donor agrees otherwise.
Official tax receipts
For monetary donations, which are in the amount of $25 or more, official receipts will be issued to donors for income tax purposes. We work towards issuing tax receipts within 60 days of donation.
For in-kind donations, official receipts will be issued provided that the value of the donation exceeds $25 and the donor provides a written appraisal of the donation's worth.
The Sens Foundation shall give formal acknowledgement or recognition to the donor, which is commensurate with the value of the donations.
The Sens Foundation shall seek prior approval to all fundraising projects and programs, which result in recognition of donors.
Publicity about donations may also be considered, with the concurrence of the Sens Foundation and the donor(s).