Advice for Charities
SB Partners’ annual Not-for-Profit series Think Camp returns on June 8, 2016! Read why not-for-profits should rethink their recruitment strategies.
It’s the season for thinking about gifts and stores are busy with people completing their shopping. One present you won’t find in a mall however, are tax shelters presented as gifting schemes.
Charitable donations make all sorts of sense: they support worthy causes, donors can be eligible for tax write-offs and let’s face it, helping others makes us feel good.
Effective January 1, 2014, the amount of annual Ontario payroll that may be exempt from Employer Health Tax (EHT) is increased from $400,000 to $450,000. To better target EHT relief, the exemption is eliminated for private-sector employers with annual Ontario payrolls over $5 million. Registered charities, including those with payrolls over $5 million, continue to … Continued
I recently read an interesting report by Erik Dorr and Martijn Geerling about Taking Finance Transformation to the Next Level, and thought I would share some of their insights. All companies strive to be cost-effective in their operations. Most focus on centralized processing to minimize costs in these operations including many finance functions such as … Continued
What should you look for when hiring a service provider?
The Canada Revenue Agency (CRA) has been targeting registered charities over the past couple of years and will continue to do so in the future. For many registered charities, the donations they receive are vital to continuing to deliver services and support to the communities they serve. In some cases, the key to receiving donations … Continued
The Ontario Not-for-Profit Corporations Act, 2010 (ONCA) comes into effect on January 1, 2013. The Act applies to every non-share capital corporation that was previously governed by the Ontario Corporations Act, 2009. There are special exceptions including insurance companies and companies with objects "in whole or in part of a social nature" (a “Social Corporation”), … Continued
The Federal budget of 2010 introduced changes to the disbursement quota rules for registered charities. In order to retain their charitable status, registered charities have to meet their disbursement quota. Prior to the 2010 budget, the disbursement quota was set at 80% of the total amount for which charitable tax receipts were issued in the … Continued
As we approach the end of March, most not-for-profit organizations are preparing for their year-end. This means a very busy time for organizations as they finalize their annual reporting and prepare for their annual general meetings. The end of this month also signals the beginning of a new financial reporting landscape for most not-for-profits. In … Continued