All nonprofits need to be as accountable and transparent as possible. Adam explains what a legal audit entails, what a lawyer will be looking for, and the common issues that are uncovered during the process.
Canada and the United States share the longest undefended border in the world and we consider ourselves to be good neighbours, but when it comes to cross-border donations things can get a bit tricky.
For charities with international causes, there are rules and procedures to follow. Adam explains what Canadian charities must have in place before they can operate overseas and what they can and can’t do once they are there.
Adam explains what directors are actually liable for, what happens to a director who is found liable, and what protections organizations can put in place for their directors.
Adam discusses the rules of thumb for the disbursement quota, what happens when there is a disbursement quota shortfall, and how to deal with generated income.
Adam explains what the 2007 federal budget will mean for charities, plus highlights some of the other budget announcements that affect Canada’s nonprofit sector.
Adam explains the purpose of the T3010, when it has to be filed, who gets to see it, and what you need to know about including sensitive information on the form.
It’s not always clear what the value of a gift in kind actually is, which makes filling out a charitable tax receipt that much harder. Adam explains who is responsible for determining the fair market value of such gifts, how that assessment is carried out, and the risks involved if charities aren’t diligent about the process.
Adam reviews the CRA requirements for official donation receipts, the penalties for non-compliance, and some of the common questions that charities face when accepting gifts from donors.
Beyond cash, there are many other types of gifts that donors can give to charity. Lawyer Adam Aptowitzer reviews some of the options and what charities need to keep in mind when accepting such gifts.
