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Inside Internal Controls

News and discussion on implementing risk management

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gifts in kind

Receipting and donor relations

This case is a reminder that charities need to be mindful of the rules when they issue donation receipts. Donors rely on the receipts in order to claim tax credits/deductions. If the Minister denies a donor’s claim for a tax credit/deduction on the basis that the charity did not include all of the required information, this will reflect poorly on the charity and could harm its relationships with donors.

 

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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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Stay of execution: A precedential win for a charity at the Federal Court of Appeal

The charities community is well aware that the Canada Revenue Agency (CRA) works to shut down charities it feels are deserving of such a punishment. In some circumstances, notably, but not exclusively, with respect to charities involved in tax shelters, the CRA works to finalize the charity’s revocation within thirty days of its Notice of Intention to do so.

 

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