Donor’s Rights & Financial Accountability

Donor’s Rights

• All donors will receive an official receipt for income tax purposes for the amount of their donation.

• Donors of non-monetary, eligible gifts (or gifts-in-kind) will receive an official receipt that reflects the fair market value of the gift, according to Revenue Canada guidelines.

• The Toronto Commandery Foundation Inc. board has established that a $20.00 minimum donation amount must be received for the automatic issuance of receipts. Donors must request receipts for donations of a smaller amount.

• With the exception of the Canada Revenue Agency reporting requirements, donors' requests to remain anonymous will be respected.

• The privacy of donors will be respected. Any donor records that are maintained by The Toronto Commandery Foundation Inc. will be kept confidential.

• Under no circumstance will The Toronto Commandery Foundation Inc. exchange, rent, or share its fundraising list with other individuals or organizations.

Financial Accountability

The financial affairs of the Toronto Commandery Foundation Inc. will be conducted in a responsible manner, consistent with the legal requirements of provincial and federal regulators.

• All donations received will be used to support the objectives of
  The Toronto Commandery Foundation Inc.as registered with Revenue Canada

• All annual financial reports will:

  • Be factual

  • Disclose the total amount of fundraising revenues, both receipted and non-receipted

  • Disclose the total amount of fundraising expenses

  • Disclose the total amount of donations that are receipted for income tax purposes

  • Disclose the total mount of expenditures on charitable activities

  • Identify government grants and contributions separately from other donations

  • Be prepared in accordance with general accepted accounting principles and standards established by the Canadian Institute of Chartered Accountants, in all material respects.

• The Toronto Commandery Foundation Inc. covenants that no more will be spent on administration and fundraising than is required to ensure effective management.

• The Toronto Commandery Foundation Inc. further covenants that it will meet or exceed Canada Revenue Agency requirements for expenditures on charitable activities.