Afleveringen
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This episode explains how to start a non-profit society specifically in British Columbia, offering a step-by-step process for incorporation.
It highlights key stages such as building a core team, choosing a name, defining the society's purpose, and crafting bylaws.
The discussion also touches upon filing for incorporation, opening a bank account, and the separate process of obtaining charitable tax status.
Finally, it includes important considerations for long-term success and directs listeners to resources for further assistance and related topics in charity law.This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs. Hat tip to our friends at OrgHub.ca, a new, innovative software platform that provides not-for-profits and charities across Canada with a solid foundation for incorporation and streamlined corporate governance.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode outlines the necessary steps for establishing a not-for-profit corporation in Toronto.
The process involves choosing a unique name, preparing Articles of Incorporation, appointing directors, defining bylaws, and submitting an incorporation application.
The guide also mentions the optional step of obtaining charitable status through the Canada Revenue Agency for additional tax advantages.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs. Hat tip to our friends at OrgHub.ca, a new, innovative software platform that provides not-for-profits and charities across Canada with a solid foundation for incorporation and streamlined corporate governance.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
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This episode explains the crucial early decision for nonprofits looking to incorporate in Ontario: whether to incorporate provincially (specifically in Ontario) or federally.
Provincial incorporation in Ontario offers benefits such as easier access to funding, potential tax advantages, limited liability protection, an independent legal identity, and perpetual existence.
Federal incorporation provides nationwide name protection, enhanced prestige, greater flexibility for national operations, and potentially advantageous governance structures.
Ultimately, the choice depends on a nonprofit's geographic scope, administrative capacity, future plans, and budget, though both options offer core benefits like limited liability and legal standing.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs. Hat tip to our friends at OrgHub.ca, a new, innovative software platform that provides not-for-profits and charities across Canada with a solid foundation for incorporation and streamlined corporate governance.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode addresses the crucial topic of executive compensation within Canadian charities (with some references to US charity law as well), emphasizing the need for fair and reasonable pay to attract and retain competent leadership while adhering to legal and ethical standards.
Canadian regulations, particularly by the CRA, define compensation broadly and strictly prohibit undue private benefit, requiring transparency through the T3010 form.
In the US, the IRS and organizations like Charity Navigator also stress reasonable compensation, suggesting reliance on comparability data and independent review processes, while acknowledging the complexities and competitive pressures of executive roles in often large, mission-driven organizations.
Ultimately, both jurisdictions underscore the importance of board oversight and accountability in ensuring responsible stewardship of charitable resources regarding executive pay.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode, Essential Principles for Charity and Nonprofit Bookkeeping, outlines crucial guidelines for managing a Canadian organization's finances.
It emphasizes meticulously documenting and summarizing all financial transactions using accrual and double-entry bookkeeping methods for accuracy and internal control.
The discussion stresses the importance of a comprehensive chart of accounts and the regular production of key financial statements like the statement of activities and the statement of position.
Furthermore, it covers aspects such as consistent system procedures, proper recognition of revenue and expenses, management of assets, adherence to regulations, and the implementation of internal controls to ensure sound financial management and accountability.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode offers practical advice for individuals considering founding a Canadian nonprofit organization.
It emphasizes the importance of self-reflection regarding motivations and ensuring a genuine need exists for the proposed organization.
The discussion highlights key considerations such as developing a sound business plan, exploring various organizational structures, and understanding the differences between nonprofits and charities.
It also addresses the realities of the commitment involved, including administrative burdens and the need for self-care.
Furthermore, the episode outlines the incorporation process, essential documents, post-incorporation requirements like bylaws and board development, and ongoing legal and financial obligations.Finally, it touches upon the challenges of "Founder's Syndrome" and provides a self-assessment checklist to help potential founders determine their readiness.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode provides guidance to Canadian charities on preparing for and managing audits by the Canada Revenue Agency (CRA).
It highlights the potential consequences of audits, including revocation of charitable status and reputational damage.
The discussion details the CRA audit process, common audit triggers, and possible outcomes, ranging from education letters to revocation.
Furthermore, it outlines steps charities can take to prepare for an audit, such as maintaining proper documentation and seeking professional support.
Finally, the episode identifies common audit issues like inadequate record-keeping and impermissible political activities, emphasizing proactive compliance and professional advice to mitigate risks.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode addresses the rewards and risks involved in hiring a celebrity for charity marketing.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode outlines the CRA's recommended due diligence approach for grant-making to non-qualified donees (i.e., non charities), emphasizing alignment with charitable purpose and risk assessment.
The model stresses collaboration, accountability, and thorough documentation for responsible grant management.
Consistent application of these principles protects the charity and acknowledges necessary administrative expenses.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode provides a thorough outline of how Canadian charities can safeguard their assets against various legal and financial threats.The discussion emphasizes the importance of comprehensive asset management, including meticulous financial record-keeping and strategic insurance coverage.
Protecting organizational identity through trademark registration and carefully managing facility usage are also highlighted as key strategies.
Continuous improvement and good governance are essential for long-term sustainability and maintaining donor trust.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode clarifies the Canada Revenue Agency's (CRA) criteria, which involves common law and the Income Tax Act.
The CRA focuses on whether the organization's belief system qualifies as a religion and whether its purposes and activities advance that religion. Requirements include belief in a Supreme Being, worship, and a comprehensive system of faith.
To "advance" religion means to promote belief through activities materially connected to religious teachings.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode provides guidance on accurately filing a Canadian charity's T3010 tax return, emphasizing the importance of meeting deadlines, providing complete information, and correctly reporting activities.
It highlights potential pitfalls such as inaccurate financial reporting and improper descriptions of charitable activities.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode emphasizes the importance of a well-designed and legally compliant website for Canadian charities. The episode highlights crucial aspects like transparently conveying the charity's mission and activities, ensuring legal compliance in online fundraising, and avoiding conflicts of interest. It stresses the need for accurate financial reporting and discourages the promotion of unrelated commercial interests. Finally, the episode advocates for user-friendly website design to enhance the charity's online presence and attract support.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode outlines the post-incorporation responsibilities for Canadian not-for-profit organizations. Key obligations include holding an initial directors' meeting, registering extra-provincially if federally incorporated, filing annual returns, updating registration upon changes in directors or address, maintaining accurate financial statements, and potentially registering with the CRA as a charity. The text emphasizes the importance of compliance with all relevant laws and regulations, suggesting seeking professional legal and accounting advice.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode discusses the advantages and disadvantages of incorporating a nonprofit organization (NPO) in Canada. Key benefits of incorporation include liability protection for members, continuity, a formal framework for dispute resolution, and the legal capacity to enter contracts and own property. Conversely, remaining unincorporated offers more flexibility, but leaves the nonprofit vulnerable to legal risks. The overall message encourages careful consideration of the implications before making a decision.This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
The episode provides a guide for establishing a private foundation in Toronto. It outlines key considerations such as defining the foundation's mission and legal structure, selecting a jurisdiction, and securing funding.
Further topics cover endowed funds, active versus passive funding models, and effective management strategies.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode provides a guide to essential legal documents for churches in Ontario. It details the importance and preparation of Articles of Incorporation, bylaws, volunteer policies, and a statement of faith.
Furthermore, it highlights the necessity of additional policies covering finances, discipline, and facility use, along with maintaining crucial records like meeting minutes and member databases.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode emphasizes the importance of year-end accounting for Canadian charities. Accurate accounting is legally required for filing the T3010 form with the CRA and issuing correct tax receipts. Financially sound practices build donor trust by demonstrating responsible use of funds. Analyzing financial records allows charities to learn from past performance and plan for future success. Maintaining organized records simplifies audits and ensures compliance. Finally, the episode suggests seeking professional help when needed.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
The episode highlights how outsourcing your charity's bookkeeping saves time, reduces financial risks, ensures accurate tax filings, provides access to better software, and offers expert advice.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
P: 289-301-8883 -
This episode offers an essential guide to selecting a charity lawyer, highlighting the importance of legal expertise for Canadian nonprofits and charities.
It emphasizes finding a lawyer with experience in Canadian charity law, transparent and predictable fees, significant number of online 5 star reviews, and strong, timely communication.
This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B.I.G. Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.
https://www.charitylawgroup.ca/
P: 416-488-5888https://www.charityaccountingfirm.ca/
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