RLB Blog

About the author: Michelle Steele

Not-for-Profits: Reserves and Fund Balances

Not-for-Profits: Reserves and Fund Balances
June 1, 2021

In Part 1 we reviewed the 3 types of contributions and how each is recognized using both the deferral method and restricted fund method. Here we discuss the net asset treatment under both the deferral method and restricted fund method. RLB’s Not-For-Profit team presented on this topic along with Contributions at their December 2020 Coffee Talk webinar presented by Colleen Gallagher or Michelle Steele.

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Not-for-Profits: Contributions

Not-for-Profits: Contributions

Many Not-For-Profit and Charitable organizations struggle with understanding the difference between the deferral and restricted fund methods of recognizing contributions. RLB’s Not-For-Profit team presented on this topic at their December 2020 Coffee Talk webinar presented by Colleen Gallagher and Michelle Steele.

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Ask The Expert: Donation Receipting Policy

Ask The Expert: Donation Receipting Policy

Question: Our board would like to develop a donation receipting policy? Do you have any guidelines we should follow? The board will want to consider incorporating the following aspects when developing a donation receipting policy:

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Charity vs Not-for-Profit

Charity vs Not-for-Profit

Charity vs Not-for-profit organization Often the term “registered charity” is used interchangeably with “not-for-profit organizations (NPOs)”. While both terms fall under the larger description of the voluntary, not-for-profit or community benefit sector. However, while both organizations operate on a not-for-profit basis, they are defined differently under the Income Tax Act (ITA). If an organization meets the definition of a “charity,” it cannot be considered a not-for-profit organization under the ITA.

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What Are Registered Charities?

What Are Registered Charities?

Did you know there are over 86,000 registered charities in Canada? If you are not one of these registered charities, you may want to give it some consideration! Firstly, you need to ask what it means to become a registered charity. As stated by the Canada Revenue Agency (CRA), a registered charity must use its resources for charitable activities and have charitable purposes that fall in one or more of the following categories:

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Ask the Expert: Can We Provide a Donation Receipt?

Ask the Expert: Can We Provide a Donation Receipt?
October 2, 2020

Question: Can we issue a donation receipt for services received? One of our members has repainted our classrooms and instead of payment has requested that we provide a donation receipt for the services.

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Ask The Expert: Why does our organization now have to start recording its capital assets?

Ask The Expert: Why does our organization now have to start recording its capital assets?
September 9, 2020

Question: Why does our organization now have to start recording its capital assets?

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Ask The Expert: AGMs and COVID-19

Ask The Expert: AGMs and COVID-19

Question: Our organization had to cancel our AGM due to the Coronavirus pandemic, how long do we have to reschedule?

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Should I Register my Charity for Income Tax Purposes?

Should I Register my Charity for Income Tax Purposes?
March 13, 2018

Did you know there are over 86,000 registered charities in Canada? If you are not one of these registered charities, you may want to give it some consideration!

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Should I Incorporate my NPO?

Should I Incorporate my NPO?

Many charities and not-for-profit organizations (NPO) face the choice of which legal structure to use, whether they are constituted as a trust, an unincorporated association, or a corporation. When hearing the word “corporation”, many people think of for-profit businesses, but did you know that corporations can also be in the form of non-share capital corporations (NSCC), which are used for not-for-profit organizations and registered charities?

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Status of the Ontario Not-for-Profit Corporations Act

Status of the Ontario Not-for-Profit Corporations Act

Be Aware of the Conditions of Restricted Gifts

Be Aware of the Conditions of Restricted Gifts

Last Chance to Transition Under the Canada NPO Corporations Act!

Last Chance to Transition Under the Canada NPO Corporations Act!