Fondation Saintlo

Donation Acceptance Policy

The Saintlo Youth Travel Foundation / Fondation Saintlo Tourisme Jeunesse (“Foundation”) mobilizes funds to grant financial aid to young people in vulnerable situations to help them grow thanks to the benefits of youth travel. To carry out its mission, the Foundation accepts donations from individuals, corporations and foundations.

 

SCOPE

This policy applies to donations received as part of all the Foundation’s financing activities, including general donations, annual donations, planned gifts, special financing activities and campaigns.

 

  1. ELIGIBILITY OF DONATIONS

The following types of donations may be accepted by the Foundation:

  • Cash donations
  • Bequests
  • Charitable annuities
  • Life insurance policies
  • Retirement funds
  • Publicly traded securities
  • Charitable remainder trusts and residual interest gifts (definition at the end of this document)
  • In-kind gifts

2.    CASH DONATIONS

The Foundation accepts cash, payments by credit card or direct debit card as well as cheques and money orders made payable to the “Saintlo Youth Travel Foundation” or its French version “Foundation Saintlo Tourisme Jeunesse”. Post-dated cheques are accepted.

 

3.    BEQUESTS

Bequests made to the Foundation may qualify as a charitable gift if the terms and conditions are acceptable under the Foundation’s gift acceptance policies. An official receipt will be issued to the estate of the deceased.

Before issuing a tax receipt, the Foundation requires a copy of documents naming the Foundation as a beneficiary for our files.

 

4.    CHARITABLE ANNUITIES

The Foundation will consider charitable gift annuities on a case-by-case basis. The amount of the tax receipt will be determined Canada Revenue Agency (CRA) guidelines.

 

5.    LIFE INSURANCE POLICIES

The Foundation will accept a life insurance policy as a donation if it is named as beneficiary or is both the irrevocable owner and beneficiary. The amount of the tax receipt will be determined according to CRA guidelines.

Any premiums due are the responsibility of the donor. If the insurance policy lapses for non-payment prior to maturity because a donor fails to provide for premium payments, the Foundation may:

  • continue to pay the premiums,
  • convert the policy to paid-up insurance,
  • surrender the policy for its current cash value.

When a life insurance policy is absolutely assigned to the Foundation, any consent that is required by provincial regulations to change a beneficiary must be signed before the transfer represents a valid charitable donation.

 

6.    RETIREMENT FUNDS

The Foundation will accept the proceeds of a retirement fund as a gift if it is named as beneficiary. The amount of the tax receipt will be determined according to CRA guidelines.

 

7.    PUBLICLY TRADED SECURITIES

As a general rule, the Foundation will only accept gifts of securities that are publicly traded stocks and bonds. The value and the amount of the tax receipt of such a donation is determined by the value of trading on the date of receipt of donation.

The Foundation’s Board of Directors have decided on and put into effect the policy that all stocks and securities the Foundation receives from donors will be sold upon completion of the stock transfer without exception. This policy is referred to as the Policy and Procedure for Managing Donations, Programs and Grant Attribution.

 

8.    CHARITABLE REMAINDER TRUSTS AND RESIDUAL INTEREST GIFTS

The Foundation will accept a charitable remainder trust as a gift if it is named as capital beneficiary. The amount of the tax receipt will be determined according to CRA guidelines.

 

9.    IN-KIND GIFTS

Generally, gifts of property are not encouraged. All proposals for gifts-in-kind to the Foundation shall be reviewed by the Board of Directors, with the participation of legal counsel if needed. Gifts of property will be reviewed with special care to ensure that acceptance will not involve financial commitments in excess of budgeted items or other obligations disproportionate to the use of the gift.

Gifts of property valued at or over $1,000 given to the Foundation for which the donor expects to receive a tax receipt must receive an independent external appraisal.

 

10.    PRINCIPLES

 Our practices conform to the following principles:

  1. The Foundation will not accept donations that are not recognized by the CRA, or violate federal, provincial or municipal laws.
  2. The Foundation will not accept donations, enter into partnerships, or accept support that will compromise its commitment to its mission and its essential values.
  3. The Foundation values and will protect its integrity, autonomy and funding freedom, and does not accept donations when a condition of such acceptance would compromise these fundamental principles.
  4. The Foundation reserves the right to accept or decline any donation. The final decision to decline a donation rests with the Board of Directors.
  5. Ownership of all donations directed to the Foundation vests in the Foundation, whether the donations are for the benefit of the Foundation generally or for some specific purpose in it.

 

11.    PROCEDURES

We commit to respect the following procedures related to the acceptance of donations:

  1. Designated donations will be used for the purposes for which they are provided.

2.    Undesignated donations will be used for the most-needed initiatives as determined by the Board of Directors.

3.    Accountability to donors must be of the highest calibre, through appropriate acknowledgment, and accurate and timely reporting by the relevant Foundation staff. Where appropriate, donation agreements will be recorded between donors and the Foundation, and these will be scrupulously adhered to by the Foundation.

4.    All donations will be recorded and receipted in accordance with the rules and regulations set out by the CRA, and according to the procedure indicated in this Policy. The Foundation will issue an official receipt for donations of $20 or more that qualify as charitable donation, in accordance with CRA guidelines. Receipts for donations of less than $20 will be issued only when requested by the donor.

If, following internal consultations, uncertainty remains as to whether a donation qualifies as a charitable donation, a ruling may be sought from the Foundation’s legal counsel, auditor and/or the CRA.

5.    Anonymity will be ensured to any donor who makes this request.

 

 

12.    PROCEDURES CONCERNING THE ISSUANCE OF RECEIPTS ELIGIBLE FOR TAX PURPOSES

Each official receipt issued by the Foundation must contain the following information:

  1. The Foundation’s name and address;
  2. The Foundation’s registration number;
  3. The receipt’s serial number;
  4. For donations in cash, the date the donation was received (day/month/year);
  5. For donations other than cash, a brief description of the property must be attached to the receipt, if it is the object of an external appraisal (for donations greater than $1,000), the name and address of the appraiser of the property must be added;
  6. The donor’s first name, family name and address;
  7. The amount of the donation in cash or the market value of the property at the time of the donation;
  8. The date of delivery of the receipt (day/month/year);
  9. The signature of the person(s) designated by the Board of Directors;

Each receipt must be completed in four copies, each with a different mention regarding its use:

  • For federal tax purposes;
  • For provincial tax purposes;
  • For the donor;
  • Retained by the Foundation.

13.    VALUES AND GUIDING PRINCIPLES

The Foundation’s mission is to help young people in vulnerable situations grow thanks to the benefits of youth travel. This mission is based on specific values that guide the Foundation’s actions and the impact it wishes to have on youth.

Theses value are:

  • Equal opportunities and solidarity
  • Acceptance
  • Autonomy
  • Leadership

14.    FINANCIAL SUPPORT AGREEMENT BETWEEN AUBERGES SAINTLO AND THE FOUNDATION

A financial support agreement has been in effect since March 1, 2023 between Auberges Saintlo (Saintlo) and the Foundation for a duration of five (5) years, ending September 30, 2027.

Among the terms and conditions of this agreement, and in consideration of the financial support and role played by Saintlo in the implementation and survival of the Foundation since 2014, the Foundation commits to:

  • grant to Saintlo an honorary title, for life, in the Foundation, compatible with the Foundation’s governance structure;
  • ensure at all times that at least two (2) directors representing Saintlo be named to the Foundation’s Board of Directors;
  • ensure at least one (1) of the directors representing Saintlo participates in the selection of the Foundation’s key directors (General Manager, Treasurer, Program Manager, or their equivalent);
  • ensure the Foundation’s strategic plan, or its equivalent, be approved by the Board of Directors with the agreement of all the Directors representing Saintlo;
  • give effect to these conditions by all means, including if required, the modification of the Foundation’s by-laws;
  • guarantee to Saintlo that these recognized rights shall be, at all times, exclusive to Saintlo and survive any termination or expiry of the financial support agreement.

15.    DEFINITION: CHARITABLE REMAINDER TRUSTS

 A charitable remainder trust is a trust created when an asset is transferred to a trust where the donor retains a lifetime interest in the asset but makes an irrevocable donation of the residual interest to a registered charitable organization. The organization may issue an official receipt of donation for the just market value of the asset’s residual interest at moment of the devolution of this residual interest to the organization.

 

16.    APPLICATION OF THIS POLICY

 The Foundation’s General Manager is responsible for applying this Policy and report its decisions to the Foundation’s Board of Directors.

 

 

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