Gifts-In-Kind

Your product or service could enrich a Lakeland program or support a college event.

Such gifts-in-kind benefit Lakeland College as well as the giver. We get the product or service, you get a tax receipt.

We accept gift while respecting you--donor’s wishes--along with Lakeland College's values and needs.

Unless Lakeland College can effectively use the article in its operations, as a rule, a gift-in-kind will be sold immediately following its receipt . The value of a gift under $1,000 can be set by mutual agreement with Lakeland College and the donor. Gifts valued at more than $1,000 will be determined by an independent qualified appraiser.

Before issuing a charitable tax receipt for a gift-in-kind, Lakeland College requires a copy of the following:
For new goods received:

• An itemized receipt of delivery to Lakeland College
• An invoice from the company donating the goods indicating that the invoice is not to be paid For used goods received:

For used goods received:

• An independent appraisal of the items being donated or, if the gift is $1,000 or less in value, the value can be jointly established by the donor and Lakeland College representative.
• For gifts having a fair market value exceeding $1,000 the appraiser should not be associated with either the donor or Lakeland College. The appraisal must be an estimate of the fair market value of the object as of the date of donation. Although the term “fair market value” is not defined in the Income Tax Act, the generally accepted meaning is the price the property would bring in an open market transaction between a willing buyer and a willing seller, acting independently of each other, and each having full knowledge of the facts. Original appraisal documentation must be in place and the donor and two officers of Lakeland College must sign a Deed of Gift, irrevocably deeding the property to Lakeland College.

For more information about the tax implications of a gift-in-kind, go to the Canada Revenue website at www.cra.gc.ca 

If you're interested in making a gift-in-king, please contact the advancement office toll-free at 1 800 661 6490 ext. 5732, direct in Lloydminster at 780 871 5732 or email donations@lakelandcollege.ca