There are lots of worthy causes out there and you might be a champion for one of them, but should you start a nonprofit organization to support that cause, and what do you need to know if you do decide to give it a go? Adam Aptowitzer, a lawyer with the Ottawa-based law firm Drache LLP, explains the difference between a charity and a not-for-profit, the benefits of incorporation, minimum board member requirements, and federal versus provincial incorporation.
Registered charities are required by law to distribute the bulk of their receipted revenue to causes or activities in line with their charitable mission. But the numbers aren't always as cut and dried as one might expect. Adam Aptowitzer, a lawyer with the Ottawa-based law firm Drache LLP, 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.
Charities exist to serve the public good in one form or another, but when it comes to politics, their role is severely limited. Adam Aptowitzer, a lawyer with the Ottawa-based law firm Drache LLP, discusses the role charities can play in the political process without risking their charitable registration. He also explains what constitutes partisan politics and the penalties charities face if they engage in such activities.
The federal Conservatives presented their 2007 budget on March 19th and there was some good news for charities, namely the elimination of capital gains tax on the donation of publicly-listed securities to private foundations. Adam Aptowitzer, a lawyer with the Ottawa-based law firm Drache LLP, explains what this will mean for charities, plus highlights some of the other budget announcements that affect Canada's nonprofit sector.
Although charities are exempt from paying taxes, the Canada Revenue Agency still requires them to fill out paperwork, namely the Registered Charity Information Return, better known as the T3010. Adam Aptowitzer, a lawyer with the Ottawa-based law firm Drache LLP, 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.
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