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What is an annual budget and why does the board need to review it regularly? A budget is a financial plan that reflects an organization’s broader strategic and operational plans.1 Essentially, an organization’s budget is a tool to help it accomplish its mission. The annual budget is the board’s...
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What governing documents does my organization need to comply with? The operations of nonprofit and charitable organizations in Canada are governed by documents including:1
The statute under which the organization is incorporated
The organization’s letters patent
The organization’s bylaws
The...
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In the following hypothetical examples, the charity is called Healthy Retirement and was formed to promote the health of seniors in Canada. It has received a lot of media attention on its recently released, well-reasoned position on the hazards for seniors of using marked crosswalks. It concludes...
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Definitions:
Equity: Fairness, impartiality, even-handedness. A distinct process of recognizing differences within groups of individuals, and using this understanding to achieve substantive equality in all aspects of a person's life.1
An inclusive workplace is fair, equitable, supportive,...
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Why is it important to have written HR policies? HR policies detail your organization’s expectations of its staff and ensure that employees are treated ethically and in compliance with all applicable legislation. HR policies also help to formalize your organization’s unique work culture, implement...
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Definition: Planned Gift1A planned gift is any major gift, made in lifetime or at death, as part of a donor’s overall financial and/or estate planning.
Why must organizations encourage donors to seek independent advice before conferring a Planned Gift or a gift that could significantly affect a...
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Definition: Statutory Remittances1Legally required payments to government (e.g., tax, EI, CPP).
What kinds of statutory remittances could my organization be required to pay? Statutory remittances could include tax deductions from staff salaries, employment insurance premiums, and Canada Pension...
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Definition: Stakeholders1A stakeholder is a person, group or organization that has a direct or indirect stake in the organization because he/she/it can affect or be affected by the objectives, actions and policies of the organization.
Who are my organization’s stakeholders and why do we need to...
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In the following hypothetical examples, the charity is called Healthy Retirement and was formed to promote the health of seniors in Canada. It has received a lot of media attention on its recently released, well-reasoned position on the hazards for seniors of using marked crosswalks. It concludes...
Continue reading
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In order to operate effectively and to address confidential issues in a timely and effective manner, boards sometimes need to meet without any staff or other stakeholders present. Some board responsibilities (e.g., performance evaluation or compensation of the most senior staff person)...
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