I. General Donations and Sponsorships Policy
1. Introduction
This policy has been drawn up in response to Genium360's desire to play an active role in nourishing its members’ development and in assisting and supporting organizations working in the engineering or science communities.
This policy is intended to serve as a model for managing donations and sponsorships, and to be consistent with the organization's other policies.
2. Objectives
2.1. Donations
Genium360’s goal is to support initiatives that contribute to the well-being, growth and promotion of the engineering community.
2.2. Sponsorships
Genium360 wants to join forces with people and organizations that aim to promote Québec engineering, and to make a concrete and active contribution to its development, thereby increasing Genium360's reputation and visibility in the best interests of its members.
3. Definitions
3.1. Donations
Any financial contribution granted to a person or organization meeting the evaluation criteria, free of charge and without consideration. Such contributions can be made in the form of a bursary when supporting or rewarding an individual for work or achievement related to the engineering community.
3.2. Sponsorships
Any financial contribution granted to a person or organization meeting the evaluation criteria in return for appropriate visibility for Genium360.
3.3. Organizations
Any natural or legal person or group of people in charge of the project, including non-profit organizations, student groups, educational institutions, and public and parapublic organizations working in the engineering community.
3.4. Partnership
Any form of partnership between Genium360 and an organization through the joint provision of any financial or material contribution or through authorization to use Genium360's name and image, based on a common objective.
3.5. Project
Activity, event or objective for which a donation, sponsorship or partnership is solicited from Genium360.
4. Sectors of Intervention
- Engineering-related educational institutions and student groups
- Organizations related to Genium360's mission which promote engineering or science
- Organizations that encourage involvement in the engineering community
- Organizations promoting sustainable development initiatives
- Any other initiative approved by Genium360's Board of Directors related to the organization's values and mission.
5. Governance and the admission, assessment, decision-making and reporting processes
5.1. Accountability
The General Manager's office is responsible for positioning and allocating sums to donations and sponsorships, based on Genium360's strategic orientations, business plan, budget planning and development opportunities.
The Audit and Risk Management Committee is responsible for ensuring that these initiatives comply with the assessment processes.
A report is made to the Board of Directors twice a year.
5.2. General criteria
The General Manager's office is responsible for collecting, analyzing and responding to requests submitted based on the following general criteria:
- The applicant is an organization working in the engineering community
- The project is consistent with Genium360's mission and strategic planning
- The applicant is a non-profit organization duly registered with government authorities and, in the case of a donation, specifically with the Canada Revenue Agency
- Benefits for Genium360 are generated by the event, activity or initiative
- An evaluation of the investment required
- Genium360's financial and material capacity
- The reputation, credibility and experience of the applicant or partner
- Compatibility with the sectors of intervention identified by Genium360
- Compliance with Genium360's established processes.
5.3. Assessment and decision-making
- All projects must be submitted in writing using this online form and must be submitted at least 30 days before the start of the project.
- The General Manager's office establishes the procedures for processing requests and analyzes files based on the rules and criteria established by the present policy.
- While conducting the analysis, Genium360 may request any additional information it deems necessary and useful to analyze the request and make its recommendations. Failure to cooperate may result in refusal of the application.
- Any favourable decision may be subject to terms and conditions, including the following: cancellation of a donation or sponsorship that has not been claimed within 30 days of Genium360's response, or submission of a visibility report in the case of a sponsorship.
- A formal response is sent to the applicant within a reasonable time, confirming the decision.
- A formal agreement must be signed between the parties, which will include the terms of payment and reporting requirements.
- In all cases, if the project is cancelled, the amount granted in the form of a donation or sponsorship must be immediately reimbursed to Genium360 by the organization.
- No contribution is automatically renewed, and any request for renewal must be subject to a new analysis.
- Genium360 reserves the right to refuse any request that does not meet the objectives of the present policy.
- Genium360 retains a discretionary right to refuse any request.
- Documentation of the analysis and result, whether accepted or rejected, will be kept for audit and other purposes.
5.4. Reporting
Each organization awarded a sponsorship will be required to provide Genium360 with a report demonstrating the results achieved in terms of Genium360's impact objective.
6. Policy review and update
This policy shall be reviewed every two years in light of the issues facing the engineering community and Genium360's strategic orientations.
II. Policy governing the Action Génie Innovation Relève (AGIR) program
1. Introduction
This policy has been developed in response to Genium360's desire to play an active role in promoting its members’ development, and with the aim of giving back to members through the implementation of various initiatives, funded from financial surpluses.
This policy is intended to serve as a model for defining and monitoring the investment of surplus income. It is linked to the General Policy on Donations and Sponsorships and is consistent with the organization's other policies.
2. Objectives
2.1. Investment objectives
Genium360 wants to be able to reinvest identified financial surpluses to reach out directly to members and help achieve the organization's mission.
3. Definitions
3.1. Financial surplus
Any amount of money that, at the end of the fiscal year, is available for distribution as part of the funds earmarked for initiatives in the subsequent fiscal year.
3.2. Initiative
Any investment project identified for the purpose of enabling members of the corporation to realize their full human potential, in line with strategic planning, or resulting from opportunities exploited by the corporation and in compliance with the general donations and sponsorships policy.
4. Governance and the assessment, decision-making and reporting processes
4.1. Determination of surplus earnings
- Before this amount is calculated, all expenses must have been covered, and any monies that need to be adjusted for good governance, also known as allocated surpluses, must have been so adjusted.
- General management will propose a distribution of this amount in two budget envelopes, one allocated to donations and sponsorships, and the other to investments in activities and internal operations. The amount allocated to initiatives will constitute a preliminary maximum budget.
- Budget envelopes may, if necessary, see amounts transferred from one envelope to another, upon a favourable recommendation from the Audit and Risk Management Committee.
4.2. Procedure for determining the financial surplus
- During the budget process for the next fiscal year,
- The General Manager's office is responsible for proposing the preliminary amount of financial surpluses to be invested in initiatives for the following fiscal year
- The Board of Directors is responsible for approving the preliminary investment envelopes included in the annual budget
- Upon receipt of the audited financial statements, an adjustment will be made if needed to the preliminary investment envelopes to match them to the audited financial statements.
- Between the start of the fiscal year and receipt of the audited financial statements, the use of preliminary envelopes may not exceed 50% of the total preliminary amount included in the budget.
4.3. Assessment and decision-making
The Board of Directors (BoD) must authorize the preliminary financial surplus amounts, and (if necessary) adjusted amounts that reflect a calculation using the audited figures.
4.4. Reporting
- The General Manager's office is responsible for compiling the investments by initiative, as well as identifying their benefits and impacts. All risks must be identified.
- A report on these investments will be submitted to the Audit and Risk Management Committee (ARMC) twice a year, by the General Manager's office.
- The total of amounts invested in initiatives during the fiscal year cannot exceed the total amount approved by the Board of Directors. The total amount is inclusive of any modification, addition, or reduction of initiatives.
- The ARMC is responsible for analyzing and approving the reports produced semi-annually by the General Manager's office. The Audit and Risk Management Committee must then present an analysis report including all risks associated with these investments to the BoD, twice a year.
5. Policy review and update
This policy shall be reviewed every two years in light of the issues facing the engineering community and Genium360's strategic orientations.
We invite you to present your project to us or to ask us your questions at info@genium360.ca or via this online form.
