Estate Planning and Legacy Giving
The B.C. M arine Trails Network Association (aka BC Marine Trails) is a BC-based registered non-profit society and a registered charity under the Canada I ncome Tax Act. We are dedicated to both creating and preserving a network of BC coastal marine launch points and public recreation sites and to the protection of the environment through our environmental stewardship practices.
- Our charitable number is: 812142826RR0001 and we are registered under the name B.C. Marine Trails Network Association.
- Our association address is: BC Marine Trails, 3285 Roper Road, Ladysmith, BC, V9G1C4
Gift Acceptance policy document
BC Marine Trails welcomes the offer of gifts that support the pursuit of its mission.
Types of Gifts
The B.C. Marine Trails Network Association will encourage and consider accepting the following outright and deferred gifts.
- Cash (e.g., outright gifts of cash, cheques, credit cards, electronic funds transfers, and payroll deductions)
- Securities (e.g., stocks, mutual funds)
- Gifts-in-kind (e.g., artwork, cultural property, and other tangible property/assets)
- Life insurance policies (irrevocable ownership transferred to charity)
- Gifts of real estate (both ecological and non-ecological land)
- Life Insurance Proceeds (upon death of donor)
- Charitable Gift Annuities
- Charitable Remainder Trusts
- Gifts of Residual Interest
Information on Proposed Non-Cash Gifts
Before deciding to accept a gift, the BC Marine Trails will determine relevant information about the gift, which may include:
- Description of the asset
- Purpose of the gift
- Estimated fair market value
- Income, expenses, encumbrances and carrying costs
- Environmental risks or problems
- Special arrangements for disposition requested by the donor
Determination of Gift Acceptance
The negotiation and development of terms and conditions relating to gifts is to be coordinated through the Board of Directors (or designated staff or committee) and the donor and/or donor's agent. The final decision to accept or decline a gift rests with the Board of Directors.
The Board will endeavour to ensure:
- the proposed gift is consistent with the organization's regulations and guidelines
- the donor's intent and direction is consistent with our objectives and priorities
- the donor's intent and direction is clearly understood and documented
- the gift does not expose the organization to a potentially significant liability
- that if precedent-setting or sensitive issues are present, they are adequately assessed by the Board of Directors
- that the proposed gift has received the appropriate Board review and approval.
Indicators that a gift is acceptable include:
- The BC Marine Trails has a use or need for the gift or, when there is no immediate need, the gift is marketable
- The gift and its accompanying terms are legal
- The purpose of the gift is compatible with the work/priorities of the BC Marine Trails
- The size and/or benefit of the gift are proportionate to the work or cost required to support or sustain that gift
- There does not appear to be a physical hazard or liability concern associated with the gift
- Restrictions on the gift are acceptable
- Ownership of all gifts directed to the BC Marine Trails vests in BC Marine Trails, whether said gifts are for the benefit of the association generally or for some specific purpose.
The BC Marine Trails has the right to decline any gift that is not consistent with its mission. When the gift offer includes conditions that Board of Directors judge not to be in BC Marine Trail's best interest, the Board of Directors (or designated committee) may request that the terms of the gift be revised or may decline the gift.
The BC Marine Trails will not accept gifts that:
- Violate any international, federal, provincial or municipal law
- Compromise director, association or member integrity or interfere with the BC Marine Trail's judgment
- As a condition thereof, require any action on the part of directors or staff which is unacceptable to the BC Marine Trails' Board of Diectors or violates our policies and regulations
- Contain unreasonable conditions
- Are financially unsound or that would expose the BC Marine Trails to liability or embarrassment
- Rely on an appraisal or evaluation, provided to the donor by third parties, that is perceived to be inaccurate or unreliable.
- Commit the BC Marine Trails to name an endowment fund, without prior approval of the Board
- Require or stipulate the future employment at BC Marine Trails of any specified person or doing business with any specified company or person
- Are gifts of partial interest in property, unless the BC Marine Trails agrees otherwise.
Charitable Tax Receipts
The BC Marine Trails will comply with regulations of the Canada Revenue Agency for issuing tax receipts. The BC Marine Trails will not issue a charitable tax receipt when:
- the donor receives any direct personal benefit under the arrangement
- the donor has signing authority over the use of the funds
- the use of the funds is restricted to specific individuals
- participation in a program or activity is limited to and defined by the donor(s) wishes
- proprietary rights entitlement accrues to the donor through the use of the funds.
Note: Donors will be informed that should the Canada Customs and Revenue Agency (CCRA) deem the donor to have received a direct benefit, an individual's charitable tax credit will be denied.
Disposition of Gifts in Kind
In the case of gifts-in-kind, unless otherwise agreed, the BC Marine Trails may dispose of gifts under the following guidelines:
- The proceeds of a sale of the asset will benefit BC Marine Trails' programs and activities for whose benefit the gift was originally given
- In the absence of such a beneficiary, the BC Marine Trails Board of Directors will direct the proceeds
- On the completion of a project or program for which gifts had been received, those gifts will be disposed or re-allocated.
Board of Directors approval on February 26, 2020