We recently blogged about our Financial Information Kit and have more news to share! We’ve added a new ‘additional resources’ section to the kit.
The first of these new resources is an article from LawNow Magazine called “We’re Calling to Set up a Time to do an Audit”.
Most people have the same reaction to audits as they do to getting a tooth pulled or getting their legs waxed: they cringe as a feeling of extreme anxiety sweeps over them.
But, at least in the case of Canada Revenue Agency (CRA) audits, it’s often an unnecessary reaction. Most audits completed by a representative of CRA confirm that a charity is in compliance with the Income Tax Act and if not, it’s usually a case of correcting minor records transgressions. This article reviews what is covered in a CRA audit, why they occur, and what is required from a charity when an audit is done. It also covers how an audit may be concluded.
We hope that with this information your organization will not live in fear of audits but embrace them; think of them as an opportunity to show how transparent your charity is.
(Ok, maybe embrace is a strong word, but you will know what to expect and will survive!)
The Government of Canada has established the East Africa Drought Relief Fund. The Government will match every dollar donated by individual Canadians to registered Canadian charities who are raising money for this Fund.
If you would like to have your donation matched through the Fund, donations must be made through registered Canadian charities. To verify your chosen organization is a registered charity, view the Charities Listings or call the Canada Revenue Agency at 1-800-267-2384.
For more information about how to donate wisely, check out Giving to charity: Information for donors from the Canada Revenue Agency.
If you are a registered charity thinking of raising money for the East Africa Drought Relief Fund, there are specific donating and fundraising criteria that must be met. Make sure to check out what an eligible donation includes. Registered charities must complete and send in the East Africa Drought Relief Fund Declaration Form to CIDA (Canadian International Development Agency) on or before September 30.