Venture for Canada Gift Acceptance Policy (To follow): Last updated: March 3rd, 2021
Venture for Canada (VFC) is committed to the privacy of our clients, employees, and website visitors. This policy specifies how we collect and use your data.
Data We Collect: We collect the following data: Your identity (name, email, phone, and title); Your company and title; other information provided in forms; Your IP address.
How we collect your data: We collect and process data when you: Voluntarily complete a customer survey or provide feedback via our contact form; Use or view our website via your browser’s cookies. We may receive your data indirectly via the following sources: Referrals sent via email or phone.
How we use data: We collect data to perform the following: Process, manage and fulfil contracts; Email exclusive offers on products and services; Enhance our services, website, and products.
Our company does not share your data with partner companies.
Our company will use third parties to process data. In these cases, only the required information is shared.
How we store data: We store your data on secure cloud platforms that we review.
Data protection rights: VFC would like to ensure you are aware of your data protection rights.
The right to access – You have the right to request VFC for copies of your personal data. We may charge a small fee for this service.
The right to rectification – You have the right to request that VFC correct any information you believe is inaccurate. You also have the right to request VFC complete information you believe is incomplete.
The right to erasure – You have the right to request that VFC erase your personal data, under certain conditions.
The right to restrict processing – You have the right to object to VFC’s processing of your personal data, under certain conditions.
The right to object to processing – You have the right to object to VFC’s processing of your personal data, under certain conditions.
The right to data portability – You have the right to request that VFC transfer the data that we have collected to another organization, or directly to you, under certain conditions. If you make a request, we have 30 business days to respond to you. If you would like to exercise any of these rights, please contact us at:
Email: firstname.lastname@example.org Write: Venture for Canada, 720 Bathurst Street, Toronto, ON M5S 2R4
Cookies: Cookies are text files placed on your computer to collect standard Internet log information and visitor behaviour information. When you visit our websites, we may collect information from you automatically through cookies or similar technology. For further information, visit allaboutcookies.org.
Cookies we use: We use two different types of cookies: Functionality – VFC uses these cookies to recognize you on our website and remember previously selected preferences. These can include your location, language, and cookie preferences. A mix of third-party cookies is used. Advertising – VFC uses these cookies to collect information about your visit to our website, the content you viewed, and the links you followed. These cookies also provide information about your browser, device, and your IP address. We may share online data collected through cookies with our advertising partners. This means that when you visit another website, you may be shown advertising based on your browsing patterns on our website.
Manage your cookies: You can set your browser not to accept cookies, and the above website tells you how to remove cookies from your browser. However, in a few cases, some of our website features may not function as a result.
Contact us: If you have questions about this policy, the data we hold on you, or you would like to exercise one of your data protection rights, please do not hesitate to contact us.
Email: email@example.com, Write: Venture for Canada, 720 Bathurst Street, Toronto, ON M5S 2R4
GIFT ACCEPTANCE POLICY
Last updated: March 3rd, 2021
Venture for Canada Fellowship Institute referred to as “Venture for Canada” or “VFC” is a registered Canadian charity that has the mission of fostering entrepreneurial skills and mindset in young Canadians. As such, we welcome the gifts of individuals, corporations, and foundations to help us achieve our mission.
This policy applies to donations received through all fundraising activities of VFC, including general donations, annual giving, planned gifts, special fundraising initiatives and campaigns.
Gift Eligibility For VFC Charitable Tax Receipts
The following gifts are deemed eligible for VFC charitable tax receipts:
• Cash: Venture for Canada accepts cash, credit card payments, direct debit payments and cheques or money orders made payable to “Venture for Canada Fellowship Institute.”
• Testamentary bequests and trusts: A testamentary trust is a trust that is established in accordance with the instructions contained in a last will and testament. Bequests made to VFC may qualify as a charitable gift if the terms and conditions of the bequest are acceptable under VFC’s gift acceptance policies. Official receipts will be issued to the estate of the deceased. VFC requires a copy of documents naming VFC as a beneficiary for our files, prior to a tax receipt being issued.
• Beneficiary designations under life insurance policies: VFC will accept a life insurance policy as a gift if it is named as beneficiary or is both the irrevocable owner and beneficiary. The tax receiptable amount 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 remium payments, VFC may:
• continue to pay the premiums,
• convert the policy to paid up insurance, or
• surrender the policy for its current cash value.
• When a life insurance policy is absolutely assigned to VFC, any consent that is required by provincial regulations to change a beneficiary must be signed before the transfer represents a valid charitable donation.
• Beneficiary designations under retirement funds: VFC will accept the proceeds of a retirement fund as a gift if VFC isnamed as beneficiary. The tax receiptable amount will be determine according to CRA Guidelines
• Publicly traded securities: As a general rule, VFC will only accept gifts of securities that are publicly traded stocks and bonds. The value and the tax receiptable amount of such a donation is determined by the value of trading on the date of receipt of donation. All stocks and securities VFC receives from donors will be sold upon completion of the stock transfer without exception.
• Gifts of real estate: Gifts of real estate 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 or value of the gift.
• All gifts of real-estate must receive an independent external appraisal.
• All gifts of real-estate must be approved by the VFC Finance and Risk Committee.
• In-kind gifts are ineligible for VFC charitable tax receipts.
• VFC may accept and record in-kind gifts pursuant to the In-Kind Contribution Policy included in the VFC Financial Controls.
As a matter of principle, we engage in the following practices:
1. VFC will not accept gifts that are not recognized by CRA, or violate federal, provincial or municipal laws.
2. VFC will not accept gifts, enter into partnerships, or accept support that will compromise its commitment to its mission and essential values as articulated in VFC’s values.
3. VFC values will protect its integrity, autonomy and funding freedom, and VFC will not accept gifts when a condition of such acceptance would compromise these fundamental principles.
4. VFC reserves the right to accept or decline any gift. The final decision to decline a gift rests with the CEO.
5. Ownership of all gifts directed to VFC vests in VFC, whether said gifts are for the benefit of VFC generally or for some specific purpose in it.
We are committed to the following procedures in accepting donations:
1. Designated gifts will be used for the purposes for which they are provided.
2. Undesignated gifts will be used for the most-needed initiatives as determined by the CEO in conjunction with 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 VFC staff.
- Where appropriate, gift agreements will be recorded between donors and VFC and these will be adhered to by VFC.
4. All donations will be recorded and receipted in accordance with the rules and regulations set out by the CRA. VFC will issue an official receipt for donations of $20 or more that qualify as charitable gifts, in accordance with CRA guidelines. Receipts for donations of less than $20 will be issued only when requested by the donor.
5. Anonymity will be granted to any donor who makes this request.
6. If, following internal consultations, uncertainty remains as to whether a donation qualifies as a charitable gift, a ruling may be sought from VFC’s legal counsel, auditor and/or the CRA.