Ethical Fundraising & Financial Accountability Code
The following Code was adopted by the Board of Directors of The Chamber Music Society of Mississauga on November 24, 2002.
- All donors are entitled to receive an official receipt for income tax purposes for the amount of the donation. Donors of non-monetary eligible gifts (or gifts-in-kind) are entitled to receive an official receipt that reflects the fair market value of the gift, according to Canada Customs and Revenue Agency guidelines. The Chamber Music Society of Mississauga (CMSM) Board may establish a minimum amount for the automatic issuance of receipts, in which case smaller donations will be receipted only upon request.
- All fundraising solicitations by or on behalf of CMSM will disclose CMSM’s name and the purpose for which funds are requested. Printed solicitations (however transmitted) will also include its address or other contact information.
- Donors and prospective donors are entitled to the following, promptly upon request:
- CMSM’s most recent annual report and financial statements as approved by the Board;
- CMSM’s registration number (BN) as assigned by Canada Customs and Revenue Agency;
- Any information contained in the public portion of CMSM’s most recent Charity Information Return (form T3010) as submitted to Canada Customs and Revenue Agency;
- A list of the names of the members of the Board; and a copy of this Ethical Fundraising & Financial Accountability Code.
Donors and prospective donors are entitled to know, upon request, whether an individual soliciting funds on behalf of CMSM is a volunteer, an employee, or a consultant.
Donors will be encouraged to seek independent advice if CMSM has any reason to believe that a proposed gift might significantly affect the donor’s financial position, taxable income, or relationship with other family members.
Donors’ requests to remain anonymous will be respected.
The privacy of donors will be respected. Any donor records that are maintained by CMSM will be kept confidential to the greatest extent possible. All staff and related suppliers must sign Confidentiality Agreements. Donors have the right to see their own donor record, and to challenge its accuracy.
If CMSM exchanges, rents, or otherwise shares its fundraising list with other organizations, a donor’s request to be excluded from the list will be honoured.
Donors and prospective donors will be treated with respect. Every effort will be made to honour their requests to:
- limit the frequency of solicitations;
- not be solicited by telephone or other technology;
- not receive printed material concerning CMSM.
CMSM will respond promptly to a complaint from a donor or prospective donor about any matter that is addressed in this Code. The Director, Fund Development will attempt to satisfy the complainant’s concerns in the first instance. A complainant who remains dissatisfied will be informed that he/she may appeal in writing to the CMSM Board, and will be advised in writing of the disposition of the appeal.
Fundraising solicitations on behalf of CMSM will:
- Be truthful; and,
- Accurately describe CMSM activities and the intended use of donated funds.
- Volunteers, employees and consultants who solicit or receive funds on behalf of CMSM shall:
- adhere to the provisions of this Ethical Fundraising & Financial Accountability Code;
- act with fairness, integrity, and in accordance with all applicable laws;
- adhere to the provisions of applicable professional codes of ethics, standards of practice, etc.;
- cease solicitation of a prospective donor who identifies the solicitation as harassment or undue pressure;
- disclose immediately to CMSM any actual or apparent conflict of interest; and not accept donations for purposes that are inconsistent with CMSM objects or mission.
Paid fundraisers, whether staff or consultants, will be compensated by a salary, retainer or fee, and will not be paid finders’ fees, commissions or other payments based on either the number of gifts received or the value of funds raised. Compensation policies for fundraisers, including performance-based compensation practices (such as salary increases or bonuses) will be consistent with CMSM’s policies and practices that apply to non-fundraising personnel.
CMSM’s Board will be informed at least annually of the number, type and disposition of complaints received from donors or prospective donors about matters that are addressed in this Ethical Fundraising & Financial Accountability Code.
CMSM’s financial affairs will be conducted in a responsible manner, consistent with the ethical obligations of stewardship and the legal requirements of provincial and federal regulators.
All donations will be used to support CMSM’s objects, as registered with Canada Customs and Revenue Agency.
All restricted or designated donations will be used for the purposes for which they are given. If necessary due to program or organizational changes, alternative uses will be discussed where possible with the donor or the donor’s legal designate. If no agreement can be reached with the donor or his/her legal designate about alternative uses for a restricted or designated donation, CMSM will return the unexpended portion of the donation. If the donor is deceased or legally incompetent, CMSM agrees to use the donation in a manner that is as consistent as possible with the donor’s original intent.
Annual financial reports will be factual and accurate in all material respects. Annual financial reports will also disclose:
- the total amount of fundraising revenues (receipted and non-receipted);
- the total amount of fundraising expenses (including salaries and overhead costs);
- the total amount of donations that are receipted for income tax purposes (excluding bequests, endowed donations that cannot be expended for at least 10 years, and gifts from other charities);
- the total amount of expenditures on charitable activities (including gifts to other charities);
- identify government grants and contributions separately from other donations;
- and be prepared in accordance with generally accepted accounting principles and standards established by the Canadian Institute of Chartered Accountants, in all material respects.
No more will be spent on administration and fundraising than is required to ensure effective management and resource development. In any event, CMSM will meet or exceed the Canadian Customs and Revenue Agency’s requirement for expenditures on charitable activities.
The cost-effectiveness of CMSM’s fundraising program will be reviewed regularly by the Board.