Acadia University Alumni Real Estate Program
This program was designed for Acadia University Alumni to use the services of the Al Chiasson Home Selling Team of Royal LePage and their partner agents to buy and/or sell properties. Under this program, when a property was bought and/or sold using the team's services, a donation was made to the University in the amount of $500 for every $100,000 of property value that was bought or sold.
This donation to the University was made in the name of the alumnus, and they received a tax receipt from the University for the donation made on their behalf. As it was a rebate of the commission from their transaction they did not have to declare the donation amount as income.
The team set out the arithmetic this way: if someone were to sell a home for $300,000 a donation to the University in the amount of $1500 would be made and the home seller would receive a tax receipt for having made a $1500 donation to the University. If they then purchased a home for $400,000 the donation on that sale would be $2000 and the university donation would now total $3500.
The program was open to alumni members across Canada. Certain conditions applied depending on local practices and regulations.