-
An advantage is the total fair market value of all property, services, compensation, or other benefits that a donor receives or is entitled to receive in return for making a gift. The benefits may be contingent or receivable in the future, by either the donor or any person or partnership not...
Continue reading
-
A non-profit organization is an association, club, or society that is operated exclusively for social welfare, civic improvement, pleasure, recreation, or any other purpose except profit. It is not a charity. No part of the organization's income can be payable to or available for the personal...
Continue reading
-
A donee is the recipient of a gift. See also "qualfied donee" and "eligible donee".
Continue reading
-
A source document is an original document that records and reflects a transaction between parties.
Source documents that support the information in the governance documents and financial information include:
e-mails and handwritten memos,
supplier invoices,
expense reports and receipts,
paid...
Continue reading
-
The term "at arm's length" describes a relationship where persons act independently of each other or who are not related. The term "not at arm's length" means persons acting in concert without separate interests or who are related.
Related persons are individuals who are related to each other by...
Continue reading
-
Registered charities can issue official donation receipts (also referred to as "tax receipts") to acknowledge gifts. An official donation receipt is subject to particular requirements under the Income Tax Regulations including identification that it is an official receipt for income tax purposes....
Continue reading
-
The disbursement quota (or DQ) is the minimum amount a registered charity has to spend on charitable activities or gifts to qualified donees to keep its registered status.
Continue reading
-
Activities are subordinate if they that are subservient to a charity's charitable purpose or are a minor focus of the charity in relation to its entire program of activities.
Continue reading
-
Bylaws are part of the governing documents of an organizations, and include rules about the organization's operation. Bylaws often provide the methods for the election of directors, the appointment of officers and the description of their duties, the creation of committees, and the conduct of...
Continue reading
-
Planned giving is a fundraising program that involves arranging donations to serve the interests of the registered charity and that suits the personal, financial, and tax situation of the individual donor. Through a planned-giving program, a registered charity seeks to attract significant gifts by...
Continue reading
