This episode outlines the key responsibilities for Canadian charity board directors.

‍These responsibilities include monitoring the executive director's performance, making organizational decisions, maintaining accurate records, filing returns with the Canada Revenue Agency, and approving financial statements.

‍The outline also covers budget development, ensuring sufficient and well-trained board members, preparing an annual report, convening an annual general meeting, and regularly evaluating risks.

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This episode explains how to register a temple, mosque, or church as a charity in Ontario and across Canada. It covers crucial steps like choosing a name and obtaining a NUANS report, establishing an address and board of directors, defining the organization's purpose and charitable activities, and understanding the incorporation timeframe and associated fees. The process of filing an initial notice and obtaining charitable tax status from the Canada Revenue Agency is also detailed. Finally, the episode emphasizes the importance of legal compliance and seeking professional assistance, particularly that of an experienced charity lawyer, when needed.

This episode provides guidance on accurately filing a Canadian charity's T3010 tax return, emphasizing the importance of meeting deadlines, providing complete information, and accurately describing charitable activities.

The guide highlights common mistakes to avoid, such as incorrectly reporting financial data or failing to file even during periods of inactivity.

This episode is sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm serving charity and not-for-profit clients across Canada with registration and governance, and B.I.G. Charity Accounts Group, a bookkeeping firm serving Canadian charities with all their financial and tax filing needs.

https://www.charitylawgroup.ca/
P: 416-488-5888

https://www.charityaccountingfirm.ca/
P: 289-301-8883

This episode is a general guide to Canadian tax compliance for private foundations.

It details the administrative, financial, and operational restrictions placed on these foundations, including requirements for corporate filings, annual information returns, and disbursement quotas.

The guide also covers tax implications for donations, rules on loanbacks and investments, and the impact of provincial statutes. Essentially, the guide provides a comprehensive overview of the legal and regulatory framework governing private foundations in Canada, and emphasizes compliance to avoid penalties.

This episode is sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm serving charity and not-for-profit clients across Canada with registration and governance, and B.I.G. Charity Accounts Group, a bookkeeping firm serving Canadian charities with all their financial and tax filing needs.

https://www.charitylawgroup.ca/
P: 416-488-5888

https://www.charityaccountingfirm.ca/
P: 289-301-8883

This episode emphasizes a structured approach to Charity Budgeting, beginning with establishing a timeline and identifying key personnel, and progresses through data collection, establishing an account structure, and prioritizing certain information.

The podcast concludes by highlighting the importance of aligning the budget with the charity's goals and striving for a balanced budget.

This episode is sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm serving charity and not-for-profit clients across Canada with registration and governance, and B.I.G. Charity Accounts Group, a bookkeeping firm serving Canadian charities with all their financial and tax filing needs.

https://www.charitylawgroup.ca/
P: 416-488-5888

https://www.charityaccountingfirm.ca/
P: 289-301-8883

This episode outlines the costs associated with registering and maintaining a charity in Canada.

Initial costs include legal and consulting fees (ranging from $5,000 to $15,000), and incorporation fees (around $200 federally).

Ongoing expenses encompass annual financial statements, annual reporting to the CRA (both starting around $1,000), fundraising costs (10-15% of funds raised), governance and operational costs ($500-$5,000), insurance ($700-$2,000), and additional potential costs for technology, training, and office space.

The episode emphasizes the importance of expert Charity Lawyers to navigate the registration process successfully.

This episode is sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm serving charity and not-for-profit clients across Canada with registration and governance, and B.I.G. Charity Accounts Group, a bookkeeping firm serving Canadian charities with all their financial and tax filing needs.

https://www.charitylawgroup.ca/
P: 416-488-5888

https://www.charityaccountingfirm.ca/
P: 289-301-8883

This episode provides guidelines for creating effective and informative board meeting minutes.

Key aspects covered include formatting, content limitations, and what information to include (decisions, actions, responsibilities).

The conversation emphasizes transparency while maintaining confidentiality, suggesting a balance between detailed records and protecting sensitive information.

Consistency in format and a pre-approved template are recommended for efficiency. Finally, the episode stresses the importance of regularly reviewing minute-taking practices to ensure they align with the board's goals for transparency.

This episode is sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm serving charity and not-for-profit clients across Canada with registration and governance, and B.I.G. Charity Accounts Group, a bookkeeping firm serving Canadian charities with all their financial and tax filing needs.

https://www.charitylawgroup.ca/
P: 416-488-5888

https://www.charityaccountingfirm.ca/
P: 289-301-8883

In this episode we explore the advantages of establishing a private foundation in Canada.

Key benefits include maintaining control over donated assets, engaging family members in philanthropic activities, and customizing supported charitable causes.

Additional advantages are operational flexibility, building a sustainable asset base, enhanced privacy, and the potential for increased public recognition.

Bottom line: private foundations are a powerful tool for impactful and enduring charitable giving.

This episode is sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm serving charity and not-for-profit clients across Canada with registration and governance, and B.I.G. Charity Accounts Group, a bookkeeping firm serving Canadian charities with all their financial and tax filing needs.

https://www.charitylawgroup.ca/
P: 416-488-5888

https://www.charityaccountingfirm.ca/
P: 289-301-8883