RLB Blog

If you have ever served on a Board of Directors before, it is normal practice for minutes to be kept. The Board minutes serve as an impartial witness to ensure that the Board is carrying out its fiduciary obligations and employing a deliberative decision-making process. But what happens when an in camera session is called? The below discusses what in camera sessions are and their importance to both the organization and to an underlying audit.

There is an array of not-for-profit organizations across Canada. Not-for-profits rely on volunteer Board of Directors to work towards the mission and vision of the organization. However, many are not aware of the responsibilities and related liabilities that come with holding such a trusted position. Understanding your responsibility and possible liability as a charity or not-for-profit Board Director can help you to better manage this risk.

Living in a post-pandemic world, many organizations have evaluated whether their current accounting software truly meets their needs. It may be time to consider the costs and benefits of using cloud-based accounting software for your Not-for-Profit Organization.

At RLB, we want to provide our clients with the tools required to assist with preparing for an efficient year end engagement and to ensure that your organization is sufficiently prepared. The additional effort to be more prepared will save time and money, allow you to have more organized records (both at year end and through the year) and ensure your annual deadlines are met.

What is a Disaster Recovery Plan (DRP)? A Disaster Recovery Plan (DRP) is a documented, structured tactic that describes how an organization can quickly go back to work and operations after an unforeseen incident occurs. Having a DRP can be the difference between closing your doors for a week versus forever. Instances when an organization might need a DRP could include:

What is a Board of Directors? A Board of Directors is an elected group of individuals that represent the shareholders of an organization or members of a not-for-profit organization. They are to provide strategic direction to the organization and oversight of senior management’s activities. In a not-for-profit, the Board is responsible for governing the organization. The tips to follow can be the difference between a Board being able to effectively operate an organization versus inspiring and driving its success.

The long wait is over! The Ontario Not-for-Profit Corporations Act (ONCA), first announced in 2010 (no… this is not a typo!), will finally become law on October 19, 2021. Organizations which fall under this legislation will have three years to become fully compliant, so there is time, but this article will highlight some of the considerations you should take into account. We should mention that this is not a comprehensive list and does not constitute a legal opinion, so organizations are advised to consult with their legal representatives when considering what changes will need to be made to comply.  

There may be times when it is best not to accept a donation. Pause here for all those who work in fundraising to catch their breath and get over the initial shock. It would be heartbreaking to turn down funds when that is what most charities and not-for-profits seek out, but when a donation comes with strings attached, it is crucial to consider the impact of those restrictions. The saying “don’t look a gift horse in the mouth” is the worst piece of advice for organizations who are offered a restricted donation. But do not lose hope. There are steps to take before having to resort to refusing a gift. So first, let us imagine the scenario. Someone comes to you with the offer of a gift of money, but they want to have a say in how it is used.

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.

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: