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Inside Internal Controls

News and discussion on implementing risk management

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charitable activities

Charities and related businesses

Registered charities, except charities designated as private foundations, may run related businesses; however, the Income Tax Act does not define what a related business is except to state that a volunteer-run business is to be considered a related business even if there is no link between the business and the objects of a charity.

 

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Charities: When opportunity knocks… Should they even open the door?

Charities are like any other actors in society, opportunities arise and they should be considered. Some will be discarded and others will be pursued. For charities though, the evaluation of opportunities must be made with the additional consideration of the constraints placed upon charities from normal economic operation. One interesting opportunity which lucky charities face now and again are large, and often unexpected, gifts in kind.

 

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