August 5, 2020 @ 1:00 pm – 4:00 pm
ONLINE, ONLINE

Every year we do a 3-hour course on transparency and the T3010.   This year there has been a lot of interest in transparency around charities.   On August 5, 2020, at 1 PM we will have our course Transparency in the Canadian Charitable Sector and the T3010 Registered Charity Information Return available online for the first time.

 

Here is a description of the course:

 

Registered charities have a high degree of trust in our society.  It is vital that they are transparent, accountable and respected in the work that they do.  Transparency has become far more important, and organizations that lack transparency can suffer tremendously, and they can undermine public trust in the charity sector.

The most basic transparency requirement for registered charities is that every year they must file the T3010 Registered Charity Information Return. If charities do not file the form, they can be revoked by CRA for non-filing within just a few months. If the form is not complete and accurate, then the charity can have its receipting privileges suspended for one year.  The T3010 is a complicated form dealing with legal, accounting and operational issues. This course will focus on the legal and operational issues and not the accounting issues and ensuring you are aware and avoid some of the most frequent mistakes with the T3010.

Understanding the T3010 is essential for those involved with finance and governance at charities, as well as researchers, grant writers, and fundraisers.  

Transparency is more than just filing the T3010 or putting up lots of information on your charity.  It is providing useful and appropriate information to your charity’s stakeholders.

Topics Include / You Will Learn:

  • Vital Income Tax Act (Canada) definitions needed to complete the form
  • The T3010 guide and its importance
  • CRA Guidance and how it impacts the T3010
  • Common mistakes in completing the T3010
  • Consequences of incomplete or inaccurate T3010 filing
  • Schedules and other documents required to be filed with the T3010
  • Strategies for filing T3010 accurately and in a timely fashion
  • Fixing past mistakes with the T3010
  • Other mandatory and suggested transparency requirements
  • Tools to review T3010 filings
  • How the T3010 information is being used and misused
  • Limitations of the T3010
  • What information on the form tends to be accurate and what less so
  • Recent changes to the T3010 and online filing under the CHAMP system

While the T3010 can be complicated, and there are many ways in which a charity can show transparency, the T3010 is the minimum legal requirement of charities. The T3010 is one of the main tools that the CRA uses to decide which charity will be audited, and it is often consulted by major donors and funders when making important decisions about grantmaking that can affect charities.

This course will be of interest to those involved with finance and governance at Canadian registered charities, accountants who prepare financial statements for charities and are often asked to also prepare the T3010, as well as bookkeepers, researchers, grant writers, fundraisers, charity lawyers and those interested in the regulation of Canadian charities.