General Event Donation Receipting
In accordance with Canada Revenue Agency (CRA) Charitable Receipting policies, MBCI adheres to the following practice with regards to receipting at its events.
A charitable tax receipt, less the value of the advantage (benefit) associated with the event for those who did not purchase an individual ticket, will be issued for all donations.
The value of the advantage is based on fair market value. Advantages may include, but are not limited to, meal(s) provided at the event, and green fees and cart fees. If a person purchases an individual ticket for the event, this amount covers the cost of any advantages and a full charitable tax receipt will be issued for their donation.advantage.
For charitable sponsorships, from an individual:
Individual donors, not associated with a business, who sponsor an event will receive a charitable tax receipt for the amount of their sponsorship, less any associated advantages for the participation of them and their partner/spouse. Others who participate in the event who are not the donor or their partner/spouse (ex. other table attendees, other golfers associated with their sponsorship) will be receipted for their donation, less the cost of the advantage.
For business sponsorships:
Sponsorships from a business are given a business receipt reflecting the amount paid for their sponsorship. No charitable tax receipt is provided, and no advantages are covered as a part of the sponsorship. As such, all who participate in the event (ex. all table attendees, all golfers) will be receipted for their donation, less the cost of the advantage.
*Please Note: MBCI reserves the right to adjust this policy as required, at any time, so as to stay in compliance with CRA receipting policies.
Silent Auction Receipting
Silent Auction winners will receive a charitable donation receipt if the winning bid for the item purchased is greater than the fair market value of the item, multiplied by 125%. If this is the case, a charitable tax receipt will be given for the amount of the winning bid, less the fair market value of the item. For example, if the fair market value of the item is $400, the minimum bid to receive a charitable tax receipt is $500. If the winning bid is $550 (over the $500 minimum bid), when lessed the fair market value ($400), the eligible receipt amount is $150.
Canada Revenue Agency, References
Click on the links below for a selection of CRA policies and procedures related to event receipting.
Fundraising Events – Issuing Receipts
Issuing Receipts for Golf Tournaments
Issuing Receipts for Fundraising Dinners
Split Receipting and Intention to Make a Gift Threshold
*Please Note: This list is not exhaustive. It is expected that each party do their own research and understand their rights and responsibilities as it relates to Charitable Receipting. CRA policies and the links provided here are subject to change.