RLB Blog

On October 22nd, we held our 10th Annual Not-for-Profit Seminar. Since this was the first time we have held this event virtually we wanted to take this unique opportunity to share the incredible presentations from our experts with you. Please click on the links below to hear from our talented an knowledgeable presenters and learn more about Embracing the Changing Landscape. 

Are the terms “registered charity” and “not-for-profit organizations (NPOs)” interchangeable? How do they differ? First and foremost, we need to define each of these terms. While both a registered charity and an NPO fall under the larger description of the voluntary, not-for-profit or community benefit sector, and both operate on a not-for-profit basis, their definitions are different according to the Income Tax Act (ITA). If an organization meets the definition of a “charity” it cannot also be considered a not-for-profit organization under the ITA. This is true even if the organization is not registered or cannot be registered as a charity. It simply can not be considered a not-for-profit organization.  

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.

The CEBA was created to assist small businesses, not for profits and charities through the current economic environment and to help them rebuild sooner. The CEBA was created to help pay for non-deferrable expenditures and restricts spending to things like payroll, rent, utilities, insurance, property tax, or regular debt payments. It cannot be used for certain capital transactions or increasing remuneration – it is best to think of the CEBA as an emergency response tool.

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

The CRA may follow up on claims you have remitted, at its discretion. This is nothing to worry about; like with any government program, monitoring is always present. If your claims were made in good faith and you keep adequate books and records, you will be able to answer any inquiry they may have.

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

The holidays can be such a wonderful and magical time of the year and it’s a great way to show our love and appreciation for our community. Each year, the team at RLB makes a donation to an organization within the four communities of which we work in. In the past, we have supported toy drives, food banks, and food hampers. This year we are supporting ...