Tax Information and Donation Policies
As a donor to the University of Saskatchewan, you can expect to receive a letter of thanks with your charitable receipt information within two weeks.
Some of the most common questions you might have about your tax receipt are addressed below. If you would like to talk to us about your donation, please contact us.
- Does my gift qualify as a tax deduction?
The University of Saskatchewan is a registered non-profit organization; therefore, any gift to the university is tax deductible. When you give, we will mail you a receipt you can use for income tax purposes. Our charitable registration number is 11927 9313 RR0001.
- What is the cut off date to receive a tax receipt this year?
We must abide by Canada Revenue Agency (CRA) guidelines that state, "Tax-deductible gifts must be postmarked on or before December 31st of any given year to qualify for a tax-deductible receipt for that year."
- Can I use my spouse or partner's tax receipt on my tax return?
If both you and your spouse/partner are filing claims, you can use either of your tax receipts, no matter the name on the receipt itself.
- If I live in the United States, is my gift tax deductible?
Contributions to qualified Canadian charities (like accredited universities and colleges) are tax deductible if you are an alumnus or a member of your family is or was enrolled at the University of Saskatchewan. If part of your income stems from Canadian sources, and you will be filing your tax return with Canada Revenue Agency (CRA), feel free to use your U of S tax receipt on your claim. It is always a good idea to check with your financial planning and legal advisors to get a complete list of your options. For more information, please Canada Customs and Revenue Agency or contact us.
- What should I do if my receipt information is incorrect?
The University of Saskatchewan strives to ensure that its donor records are accurate. If the information outlining your gift is incorrect, please contact us. We would be pleased to replace your receipt.
- When do I get my receipt(s) if I'm making monthly gifts by post-dated cheques, pre-authorized chequing, or credit card?
Our office policy with respect to receipts of 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 January of next year and each January thereafter, or in the month following your final payment.
- When do I get my receipt(s) if I'm making monthly gifts through payroll deduction(s)?
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 the U of S.
Making a donation is a decision that requires careful consideration. Some of the university’s policies that relate to donations are listed below.
If you have any questions, please contact us.
The University of Saskatchewan endeavors to prudently manage all financial risks through a relatively conservative investment and similarly conservative spending policy.
The University’s spending policy requires an endowment or trust to earn 9% of the original contributed capital before spending begins. This allows the University to honour the intention of your gift by protecting and preserving the original contribution of endowed funds and ensuring that the funds provide an appropriate level of funding for current and future generations.
If the fund you support has not yet accrued 9% of the original contributed capital, the market downturn in recent years may have slowed the ability of the fund to provide an initial disbursement in the timeline originally anticipated.
Under the current policy, once a spending amount has been set it will be paid out regardless of the actual income or appreciation experienced that year. This provides stable annual funding to support the purpose of the fund and protects the value of the endowed contributions in terms of purchasing power.
The amount available for spending each year (spending allocation) is calculated at 4.5% of the original contribution and subsequent contributions are increased annually by a factor equal to the annual rate of inflation as measured by the Consumer Price Index (CPI) in Canada.
The allocation is monitored to ensure that the amount spent is reasonable in relation to the market value of the endowment.
For further information regarding the University of Saskatchewan’s spending policy, please visit http://www.usask.ca/university_secretary/policies/operations/4_34.php