Please contact email@example.com when planning a Fundraiser. This will ensure TGCF is aware of the fundraiser and we can assist with any questions.
- Items donated for an auction event cannot be receipted as fair market value cannot be assessed unless assessed by a third party (this is timely and costly). TGCF RESERVES THE RIGHT TO NOT RECEIPTAUCTION ITEMS
- Gifts of services, for sale at an auction or otherwise, are not eligible for an official donation receipt.
To determine the value of a fundraising dinner, the value of a comparable meal provided by a comparable facility will have to be established.
- If the event is held at a restaurant, then the price the restaurant would charge a regular customer is the comparable value. In this regard, it is acceptable to take into account group or banquet rates
- If tickets need to be purchased for the dinner, the ticket price in and of itself is non-reciptable. When a donor receives an advantage or consideration for a donation ( ie: ticket to an event, etc), part or all of the donation may no longer qualify as a gift
- Any free will donations given at the event itself, are receiptable (The donation must be given freely without expectation of any return)
- It is the view of the Canada Revenue Agency (CRA) that no part of the cost of a lottery ticket is a gift. Therefore, a lottery ticket is not eligible for an official donation receipt.
GIFTS IN KIND
TGCF does not receipt gifts in kind. The restrictions for determining the fair market value of item(s) involve a third party to do an appraisal of the value of the goods. This can be a timely and costly matter.
TRANSACTIONS THAT DO NOT QUALIFY AS GIFTS:
- A court ordered transfer of property to a qualified done;
- The payment of a basic fee for admission to an event or program;
- The payment of membership fees that convey the right to attend events, receive literature, receive services, or be eligible for entitlements of any material value that exceed 80% of the value of the payment;
- A payment for a lottery ticket or other chance to win a prize;
- The purchase of goods or services from a charity;
- A gift in kind for which the fair market value cannot be determined;
- Donations provided in exchange for advertising/sponsorship;
- Gifts of services (for example, donated time, labour);
- Gift certificates donated by the issuer (may qualify under specific circumstances as indicated in guidance CG-007);
- Loans of property;
- Use of a timeshare or vacation property; and
- The lease of premises