NON-PROFIT ORGANIZATION

NON- Profit ( NPO) Organization:

An NPO is a club, society, or association that is not a charity and that is organized and operated solely for:

• Social welfare

• Civic improvement

• Pleasure and recreation

• Any other purpose except profit

Not-For Profit Corporations:

• A not-for profit corporations carries on its activities without the purpose of gain for its members

• It is incorporated under the Corporations Act as a corporation that doesn’t issue shares

• It MUST have not-for-profit purposes, and use any profits to promote those purposes

Types of Not-For Profit Corporations:

• Charitable (including religious organizations)

• Social clubs

• Service clubs

• Sporting and athletic organizations

• Professional and trade associations

• Ratepayers’ associations and

• Other community organizations

Incorporate a Not-For Profit Corporation:

• NUANS name search report

• Covering letter which provides contact name, return address and telephone number

Charitable Organization:

• Is established as a corporation, a trust, or under a constitution

• Has exclusively charitable purposes

• Primarily carries on its own charitable activities, but may also gift funds to other qualified institution/individuals

• More than 50 % of its governing officials MUST be at arm’s length with each other

• Its income cannot be used for the personal benefit of any of its members, shareholders, or governing officials

Reports and Keeping Records:

• Organization has to file its NPO information return no later than six (6) months after the end of its fiscal period

• Need to keep paper and electronic records for six (6) years

• If you want to destroy before the six-year period, needs to be completed Form T137, Request for Destruction of Records

CONTACT US: If you have any questions or inquiries regarding NON-Profit Organization, please contact us at 647-861-2099 or send email to info@globalabcservices.com to book a free consultation.