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Sponsorship occurs when a business makes a donation to a charity and in return receives advertising or promotion of its brand, products, or services.
Generally, tax receipts cannot be issued for sponsorships. However, the cost of the sponsorship to the business is generally considered a tax-...
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A gift in kind is a gift other than cash.
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A community foundation is an organization established to manage a community endowment fund, the income from which is distributed to registered charities within a community. A community foundation can qualify for registration as a charity.
(CRA : Charities Glossary)
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Accrual accounting is the method of recording transactions, where revenues and expenses show in the results for the period in which they were earned and/or incurred, whether or not cash has changed hands for the transaction.
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A non-qualifying security is, generally, a security where the owner of the security (e.g. a shareholder) is not at arm's length with the issuer of the security (e.g. a private company). A charity can issue a tax receipt to the donor of a non-qualifying security in some circumstances. ...
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Compensation, for persons (employees) working full-time or part-time for a registered charity, includes salaries, wages, commissions, bonuses, fees, and honoraria, plus the value of taxable and non-taxable benefits.
(CRA : Charities Glossary)
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Generally, the adjusted cost base is the amount originally paid for a property, plus the costs (such as legal fees or surveys) associated with the purchase, plus the cost of any improvements to the property.
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Registered charities may issue an official donation receipt (or "tax receipt") to acknowledge a gift. An official donation receipt is subject to particular requirements under the Income Tax Act including identification that it is an official receipt for income tax purposes. Registered charities can...
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Directors and trustees are persons who make up the registered charity's elected or appointed governing body. This generally means persons who hold positions identified in the registered charity's governing documents, such as chair, treasurer, secretary, or past president. The registered charity's...
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A charitable activity is an activity carried out by a registered charity to further its mission.
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