These forms provide a framework for those who solicit on behalf of the University or a University-related organization such as a student group and accept donations and sponsorships from external organizations.
Donations, monetary or otherwise, are in support of a cause without any commercial incentives. Money or goods are donated as a voluntary transfer of property (money, securities, gifts, bequests, endowments, or tangibles such as equipment, art, or real estate) without any expectation of benefit accruing to the donor. Donations are eligible to receive a receipt for income tax purposes.
Sponsorship, monetary or otherwise, is in support of a cause in return for access to the commercial potential associated with that organization and/or event. The strategy is to build a link in the target audience’s mind between the sponsor and a highly valued organization and/or event, to win over consumers. Sponsorships are not eligible to receive a receipt for income tax purposes.