426
edits
Difference between revisions of "Societies, Charities, and Federal Not-For-Profit Corporations - What's the Difference? (Societies Act FAQs)"
From Clicklaw Wikibooks
Societies, Charities, and Federal Not-For-Profit Corporations - What's the Difference? (Societies Act FAQs) (view source)
Revision as of 22:19, 11 January 2024
, 11 Januaryno edit summary
m (updating broken link) |
m |
||
| Line 23: | Line 23: | ||
| '''Financial Review Requirements''' || Stringency of review depends on amount of revenue - can be onerous; members may waive audit if revenue below $50,000 || Not required to have an audit unless required by the members or the bylaws (or by funders) | | '''Financial Review Requirements''' || Stringency of review depends on amount of revenue - can be onerous; members may waive audit if revenue below $50,000 || Not required to have an audit unless required by the members or the bylaws (or by funders) | ||
|- | |- | ||
| '''Financial Disclosures''' || Must prepare financial statements every calendar year; Must send summary financial statements to members prior to AGM || Must prepare financial statements every calendar year; Must disclose | | '''Financial Disclosures''' || Must prepare financial statements every calendar year; Must send summary financial statements to members prior to AGM || Must prepare financial statements every calendar year; Must disclose all employees, directors, or contractors paid over $75,000 per year; Directors can only be paid if bylaws permit; Must provide financial statements to members of public upon request | ||
|- | |- | ||
|} | |} | ||
{{Societies Act FAQs NavBox}} | {{Societies Act FAQs NavBox}} | ||
