Monetary Donations – Your donation, no matter the size, will have an impact on our community. Donations can be made online (hyperlink), by mail, in person at the front desk, or by phone. If you wish to make a donation in someone else’s name, or have any special requests or concerns regarding your donation, please contact UCAF at firstname.lastname@example.org, or call 416-766-6802. Tax receipts are issued for donations above $ 20.00 and will be sent out within 30 business days.
Gifts – The following forms of gifts, among other, are accepted when otherwise in accord with the laws, rules and regulations governing UCAF activities: cash, tangible personal property, securities, real estate, remainder interest in real property, life insurance, charitable remainder trusts, retirement plan beneficiary designations.
Cash is accepted in any form – checks should be made payable to Ukrainian Canadian Art Foundation. Credit card payments and funds transfers are also acceptable.
Tangible personal property may be accepted as long as the property fulfills the UCAF mission and can readily be liquidated to produce cash. The Board of Directors will consider the following criteria when deciding whether to accept a gift of other tangible personal property: (a) is the property marketable? (b) are there undue restrictions on the sale, use or display of the property? (c) are there any carrying costs for the property? UCAF reserves the right to refuse or return gifts containing restrictions that are inconsistent with its mission or that otherwise may be deemed inappropriate by the Board of Directors.
All final decisions on the restrictive nature of a gift and its acceptance or refusal shall be made by the Board of Directors. All restricted gifts, including restricted gifts in the form of endowment funds, must be governed by a written agreement executed by the donor and UCAF. The minimum amount necessary to establish an endowment is $50,000. Endowments may be funded with outright contributions, including contribution pledges over a maximum period of 3 years, which term may be extended by agreement between the donor and UCAF. Endowments may also be funded with deferred contributions from bequests, life insurance policies, retirement plan designations, charitable remainder trusts and similar instruments and arrangements.
It is generally the donor´s responsibility to determine whether it is necessary to obtain an appraisal of a proposed gift and, if so, to secure such appraisal. It is also the donor´s responsibility to secure independent legal, tax, financial and estate advice for all gifts to UCAF. UCAF will not act as advisor to any donor in any of these respects, though UCAF will work with the donor´s advisors in furtherance of approved gifts.
All charitable gifts to UCAF are recorded by name of donor and include gift date, gift purpose (if any) and value. Acknowledgements are sent to donors and receipts are issued to donors for gifts that qualify for income tax charitable deductions as allowed by law. No receipts are issued for gifts that, while greatly appreciated, do not qualify for income tax charitable deductions, such as legal or other professional services donated to UCAF, loans of property to the UCAF, free advertising or discounts on rents and purchases.