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.

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