• Tax shelter

    Generally, a tax shelter is any arrangement where the tax benefits equal or exceed the net cost of entering into the arrangement.

  • Charity Registration Number

    A charity registration number is 15-digit program account number assigned to a charity by the CRA when it is registered. A complete charity registration number has three parts: the BN (first nine digits), the program identifier (two letters), and the reference number (four digits). The registered...

  • Public foundation

    is established as a corporation or a trust; has exclusively charitable purposes; generally gives more than 50% of its income annually to other qualified donees, (e.g., registered charities), but it may carry out some of its own charitable activities; more than 50% of its governing officials...

  • Eligible donee

    Generally, an eligible donee is a registered charity that is in good standing with the Canada Revenue Agency, and that has more than half of its directors at arm's length with each of the directors of the charity gifting to it.

  • Financial information

    Financial information includes: annual financial statements, copies of official donation receipts, copies of annual information returns (Form T3010, Registered Charity Information Return), general ledgers, bank statements, revenue and expense account details, documents supporting GST/...

  • Accountability

    The responsibility of a foundation/organization to publicly disclose information on their activities, particularly justification for financial activities and the decisions surrounding them. (Philanthropic Foundations Canada)

  • Registered

    An organization has applied to the CRA and received approval as meeting the requirements for registration as a charity, and has been issued a charitable registration number. A registered charity is exempt from paying income tax and can issue official donation receipts for gifts it receives....

  • Eligible Director

    An individual is eligible to serve as a Director of a charity, unless the individual: has been found guilty of a relevant criminal offence for which the individual has not received a pardon;  has been found guilty of a relevant offence in the last five years;  was a director, trustee...

  • Associated charities

    Associated charities are two or more registered charities that have applied for and received this designation from us. Associated charities can pass funds among themselves without being affected by the usual limitation placed on gift making by charitable organizations. The Income Tax Act...

  • Revoked

    Registration as a charity or Canadian amateur athletic association has been cancelled and the privileges that go with it have been taken away. The organization can no longer issue official donation receipts and is no longer eligible to receive gifts from registered charities. Registration as a...

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