For income tax purposes, a gift or donation is defined as a voluntary transfer of property to the Ottawa Senators 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:
The Ottawa Senators Foundation shall analyze proposed gifts or donations, and shall accept those, which they feel will cost-effectively fit the mission and objectives of the Ottawa Senators Foundation.
The Ottawa Senators 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 Ottawa Senators Foundation and must be of a clear and unencumbered nature.
The Ottawa Senators Foundation may accept conditions on the disposition of donations where it deems the proposed conditions to be reasonable and feasible.
The Ottawa Senators Foundation shall maintain donor records, the contents of which shall remain confidential unless the donor agrees otherwise.
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 Ottawa Senators Foundation shall give formal acknowledgement or recognition to the donor, which is commensurate with the value of the donations.
The Ottawa Senators 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 Ottawa Senators Foundation and the donor(s).