CRA Fundraising Guidance – What every fundraiser needs to readCanada Revenue Agency (CRA) has finally issued its updated Fundraising by Registered Charities – Guidance. What’s the big deal? Well, this is a document that every fundraiser needs to read, bookmark and understand. It includes a simplified method of allocation, gives less prominence to the ratio of fundraising expenses to overall revenue, summarizes how to work with non-arms length fundraising firms, and introduces a section on reserve fund policies. CRA states: “This guidance outlines the legal principles that relate to fundraising issues that are connected to federal (CRA) regulation of charities registered under the Income Tax Act,the policies and practices the CRA uses when it assesses fundraising in applications for registration or in audits of existing registered charities, and how fundraising expenditures should be allocated for the purposes of completing Form T3010, Registered Charity Information Return.” As a fundraiser, CEO or board member, you must be familiar with these guidelines in order to apply best practices to running the charity. Make sure you are scrupulous in record-keeping to show your costs related to raising money. Here’s the link – happy reading! http://www.cra-arc.gc.ca/chrts-gvng/chrts/plcy/cgd/fndrsng-eng.html Laura Mikuska · |
Blog Archives
Articles By Category
|
|
|
     
|
||