Donor Services

The NIC Foundation places a high value on relationships and providing exceptional donor services. We believe that transparency and accountability are essential and that our donors are entitled to the greatest impact possible for their investment.

Our Commitment to Donors

North Island College and the NIC Foundation appreciate your contribution to our students' success and will work closely with you to ensure that your support is appropriately recognized and that your wishes are honoured. It is our responsibility to care for all the gifts that we receive in a way that respects the intentions of our donors. Furthermore, we value effective communication with the ultimate goal of enjoying lasting relationships with all of our donors.

Financial Reporting

Endowment holders are sent endowment statements annually. The statements show the accumulated amount of the endowment, including donations and other contributions as well as totals of accumulated earnings and student awards issued.

Impact Reporting

Donors of both endowed and annually funded awards receive notification of the name(s) and college program of award recipients. Most students write thank-you notes and their gratitude is sent to donors. There are some students who like to share their personal story and we look for opportunities to engage these students so that our community understands the impact of their giving.

Award Receptions

Donors of both endowed and annually funded awards are invited to award receptions each fall. We host award receptions in each of our campus regions. These short events create an opportunity to celebrate student achievement and recognize donors who help our students succeed along the way. In an effort to reduce stress on students and to highlight their achievement with a relevant audience, we celebrate students in the community that they reside.

Receipting

The NIC Foundation receipts gifts according to Canada Revenue Agency guidelines. We strive to send receipts in a timely manner and to consider donors’ communication preferences in how receipts are sent. Donations of $20 or more are eligible for official tax receipts.

Privacy

The NIC Foundation respects your right to privacy and does not share information with outside organizations.

Our Donor Promise

To ensure that donors have confidence in our organization, the NIC Foundation adheres to the following Donor Bill of Rights from the Association of Fundraising Professionals .

Philanthropy is based on voluntary action for the common good. It is a tradition of giving and sharing that is primary to the quality of life. To ensure that philanthropy merits the respect and trust of the general public, and that donors and prospective donors can have full confidence in the nonprofit organizations and causes they are asked to support, we declare that all donors have these rights:

• To be informed of the organization's mission, of the way the organization intends to use donated resources, and of its capacity to use donations effectively for their intended purposes.
• To be informed of the identity of those serving on the organization's governing board, and to expect the board to exercise prudent judgment in its stewardship responsibilities.
• To have access to the organization's most recent financial statements.
• To be assured their gifts will be used for the purposes for which they were given.
• To receive appropriate acknowledgement and recognition.
• To be assured that information about their donation is handled with respect and with confidentiality to the extent provided by law.
• To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature.
• To be informed whether those seeking donations are volunteers, employees of the organization or hired solicitors.
• To feel free to ask questions when making a donation and to receive prompt, truthful and forthright answers.

Accountability

The NIC Foundation welcomes your interest in our financial operations and priorities. The Foundation's financial statements are audited annually by an independent audit firm in accordance with the Canadian Accounting Standards for not-for-profit organizations.

Financial Statements

• 2019 NIC Foundation Financial Statements
• 2018 NIC Foundation Financial Statements
• 2017 NIC Foundation Financial Statements
• 2016 NIC Foundation Financial Statements
• 2015 NIC Foundation Financial Statements
• 2014 NIC Foundation Financial Statements
• 2013 NIC Foundation Financial Statements
• 2012 NIC Foundation Financial Statements

North Island College Reports

North Island College provides a range of informative publications which donors and community members can readily access online: www.nic.bc.ca/life-at-nic/publications/.