We continue the discussion of disbursement quotas that began in Part 1 and explore such topics as how to calculate your disbursement quota, whether or not an accountant is necessary, how foundations amass large endowments, and the definition of “enduring property”.
Find out more about these disbursement quotas, what happens when a charity doesn’t comply with their disbursement quota, and how long-term projects fit into the equation.
Learn more about situations where third-party information may be requested, the impact of a charity’s privacy policy on such a request, as well as a charity’s liabilities with regard to the accuracy of the information they provide.
Compliance agreements occur between charities and the CRA, often following an infraction. Find out exactly what a compliance agreement is, when the CRA might issue one, and what happens if a charity violates a compliance agreement.
Find out when a charity should communicate with the CRA Charities Directorate, best ways to contact the directorate, the role of the ombudsperson, and common mistakes when dealing with the directorate.
Much has been made in the press over the last year about the alleged fraudulent use of tax shelter plans by Canadian charities.
The CRA recently published a list of model objects (charitable purposes) that nonprofit organizations can consult before applying for charitable status. Adam explains what these model objects are, and how they may help organizations get through the registrations process more quickly and with less difficulties along the way
This checklist may be of use to those considering joining a board of a charity. As well, it may be useful to staff and the board of charities who are interested in improving their legal compliance and improving their risk management.
Discussing the value of an informal legal audit for nonprofits and charities and how lawyers can be effectively and efficiently used to provide real tangible value to Canadian charities and nonprofits.
There are instances when directors are financially compensated for their time and effort. Adam explains when this may be allowed, the legal penalties for improper compensation, and the best ways to maintain transparency in the boardroom and beyond.
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