Charity Update

Submitted by martha on May 13, 2010 – 7:12pm

Over the course of three Wednesdays in March and April over 75 poeple representing theatre, performing arts, and music came toegther to talk about whether or not to incorpoarte as a not for Profit Society, alternatives to incorporationa dn regsitration for charitable status. I am working now on a 3 part toolkit called Society Survival. As I have been preparing I thought I’d share a recent excerpt from a presentation at the CBC ational Charity Law Conference.
Compliance issues
 Several issues tend to recur during the course of charity audits, including:
• Receipting:  Absence of critical information  Issuing receipts for services  Determining fair market value
• Books and records  Incomplete, or sometimes missing entirely
 Charities that do not file their financial statements with their annual information return will have their registration revoked.

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