Making a Gift to SCS
You might be surprised to learn that all gifts, big and small, help Saskatoon Christian School. When you give, you join the many proud alumni and friends of SCS who share your commitment and enthusiasm for Christian education.
Your gift makes a difference wherever it is used. Every gift, whatever its size, is appreciated by SCS but we do reserve the right to refuse any gift. The staff in our Business Office works closely with school administration to determine fund raising priorities. These priorities provide us with the basis to match donor interests with academic needs. Our staff can also assist donors in structuring philanthropic plans to meet their personal charitable and financial objectives.
Yes. All spending of funds is confined to board approved programs and projects. Each contribution designated toward an approved program or project will be used as designated/restricted with the understanding that when the need for such a program or project has been met, or cannot be completed for any reason as determined by the board, the remaining restricted contributions designated for such program or project will be used where needed most.
Unrestricted gifts are gifts that are given without being designated for, or directed to, a specific program or project. Such gifts are especially significant as they allow the school to direct funds to the areas of greatest need to advance the mission and core values of Saskatoon Christian School.
Some companies offer a matching gift program to their employees, retirees, or directors. Check to see if you work for a company that has a matching gift program and, if so, please ask your human resources office for a Matching Gift Form. Submit the completed form with a copy of your receipt to our office, and your company will match your gift to SCS.
When making a pledge, the Business Office records your payment schedule according to your wishes. We send a payment reminder if a scheduled payment is past due. If we don't hear from you within 60 days we will send out a follow-up reminder. After 120 days, we will assume you would like your pledge deactivated. Please note that pledges can be reactivated at your request at any time.
Your Tax Receipt
SCS is operated by Saskatoon Society for Christian Education Inc. which is a registered charity so gifts to SCS are tax deductible to the extent provided by law. It is recommended that you consult your tax advisor regarding the exact deductibility of gifts to SCS. When you give an eligible gift, we will mail you a receipt you can use for income tax purposes. Our charitable registration number is 10795 7318 RR0001.
In Canada, charitable organizations are permitted to issue official tax receipts in return for the donation of gifts, which are defined as “a voluntary transference of property without consideration”. The Income Tax Act does not permit amounts paid for secular tuition to be treated as charitable donations because the academic training received in return for the tuition is deemed “consideration”. However, there are exceptions to the Act (see CRA Information Circular No. 75-23) that provide for the issuance of official tax receipts for amounts paid to schools, other than post-secondary schools, which teach religion exclusively or which provide both secular and academic training because religious training is not viewed as “consideration” for purposes of the definition of a gift. By identifying the cost of delivering the secular portion of the education the school can then issue official tax receipts for any amounts received from parents and guardians that exceed the secular cost of education per pupil.
Our charity registration number is 107957318 RR 0001.
We must abide by Canada Revenue Agency (CRA) guidelines that state tax-deductible gifts must be postmarked on or before December 31 of any given year to qualify for a tax-deductible receipt for that year.
If both you and your spouse/partner are filing claims, you can use either of your tax receipts, no matter which of your names are on the receipts. Gifts of cash from joint bank accounts may be receipted in either of the joint names or both.
SCS strives to ensure that its donor records are accurate. If the information outlining your gift is incorrect, please call the Business Office at (306) 343-1494 and press 3, or email us at firstname.lastname@example.org. We would be pleased to replace your receipt.
Our office policy with respect to receipting monthly paid gifts is to issue one receipt per calendar year. This reduces administrative costs and assists our donors by eliminating the need to keep track of monthly receipts. A receipt for your total yearly gift will be forwarded to you in February of the following year.
Gifts made through payroll deductions will be reflected on your T4 slip. No receipts will be issued as you can use your T4 in the same fashion as a charitable receipt. If you are making continuous gifts through payroll deductions, our records will reflect that you have made an on-going pledge to SCS.
Recognition for Your Gift
We are proud to recognize the generosity of our donors. When donors notify us that they choose not to be publicly recognized for their support, we can easily accommodate the request. Please contact the Community Development Officer at (306) 343-1494 and press 287, or by email at email@example.com, if you choose:
· not to have your name published with regard to a specific gift;
· not to have your name published with regard to all gifts; or,
· not to be invited to donor recognition events.
We track anonymity as it relates to the School's public recognition of donors. Anonymous donors must provide personal information for tax purposes, but that information will remain confidential within the Business Office.
Types of Gifts Welcomed by SCS
Planned gifts offer an effective way to support projects and priorities at SCS. We will assist you, and your financial advisor, in making arrangements that will suit your financial needs and support your areas of interest. For more information on planned giving options through a will or bequest, please contact the Business Office at (306) 343-1494 and press 3, or email us at firstname.lastname@example.org.
Gifts-in-kind are all non-cash gifts. Some examples would be real estate, special collections, books, works of art, antiquities, and equipment. SCS reserves the right to refuse any gift. Some gifts will be accepted "as is" and some will be sold with the proceeds from the sale used in a manner of your choosing. Many of these items are tax deductible based on the appraised value of the gift-in-kind. Please contact our Business Office to discuss the gifts-in-kind you would like to donate at (306) 343-1494 and press 3, or email us at email@example.com.
The value of all non-cash gifts must be determined using “fair market value” (FMV). If we are unable to reasonably determine the value of the gift-in-kind, any acknowledgement of the gift will show a value of $0. For gifts-in-kind valued at $1000 or more, we will require a third-party appraisal to determine FMV. For all other gifts-in-kind, a sales receipt or current sales listing showing the value of a comparable item will suffice.
The FMV does not include taxes paid to purchase the gift-in-kind.
To donate RRSP or RRIF accumulations the donor should provide instructions in their Will for the same amount to be bequeathed to SCS. In this way, the tax payable on the RRSP/RRIF will be at least partially offset by the benefits of the charitable receipt issued by SCS to the donor's estate. For a complete overview of options, call us at (306) 343-1494 and press 3, or email us at firstname.lastname@example.org.
A gift of life insurance can be made to SCS by transferring ownership of an existing policy or purchasing a new one. In order to be recognized as a charitable gift for tax purposes, SCS must be designated as both the policy's owner and beneficiary. SCS issues charitable tax receipts for the premium payments made by the donor to maintain the insurance, plus any cash value that exists within the policy when it is donated. The donor may determine with SCS the purpose the proceeds of the policy will eventually support. To discuss options, call us at (306) 343-1494 and press 3, or email us at email@example.com.
Securities and mutual funds traded on the major Canadian and U.S. stock exchanges may be donated by transferring ownership directly to SCS. This may be done by instructing your broker to transfer the securities electronically to the School's broker or by re-registering the securities in the School's name and providing us with the stock certificate (electronic transfer is recommended). A tax receipt is issued for the closing value of the securities on the day they become the property of SCS. The donor may determine with the staff of the Business Office the purpose the proceeds of the sale of the securities will support.
There are very significant tax advantages to gifting securities. Canada Revenue Agency (CRA) has eliminated the taxable portion of capital gains on securities that are donated to a charity rather than the normal 50% capital gains tax. To discuss these and other options, please call us at (306) 343-1494 and press 3, or email us at firstname.lastname@example.org.
While SCS accepts a wide array of gifts (both cash and in-kind), the School ultimately reserves the right to accept or decline any gift. The School's primary interest is to ensure that all gifts are receipted according to Canada Revenue Agency (CRA) regulations and guidelines and that the School can adequately and appropriately serve the donor's intent. If you have a question about the nature or designation of your gift, please call us at (306) 343-1494 and press 3, or email us at email@example.com.
Contacting SCS about Your Donation
Please contact the Business Office if:
· you change your address, email, phone number or employment;
· you change your bank account and are giving by cheque or pre-authorized payment; or,
· your credit card expires or changes and you are making gifts by credit card.
Please call us at (306) 343-1494 and press 3, or email us at firstname.lastname@example.org.
The staff in our Business Office will be pleased to offer you advice on the terms of your gift. Please call us at (306) 343-1494 and press 3, or email us at email@example.com.