Not for Profits & Charities 101
Presented by Casey Langbroek FCPA FCGA
Langbroek Louwerse & Thiessen LLP
A great deal of practical information for Charities and Not for Profits was shared and explained, including:
- The definition of a Not for Profit
- Characteristics of a Charity
- The tax filing requirements for each
Also discussed was the requirement for Charities to know and operate within their Purposes – as stated in the Constitution, and as registered with Canada Revenue Agency Charities Directorate. If activities fall outside, then the Purposes must be changed, and approved by Canada Revenue Agency Charities Directorate.
Comments on the most common Charity audit findings, and the completion of the Charities Information Return, and the Not for Profit Information Return were also offered.
The message: A Charity or Not for Profit is a privilege – not a right – that must not be abused.