What’s the difference between a non-profit and a charity?
All registered charities are non-profits, but not all non-profits are charities. Charities must have exclusively charitable purposes and register with CRA for tax benefits. Non-profits can have broader purposes.
What are directors’ responsibilities?
Directors of charitable and non-profit organizations have fiduciary duties and potential personal liability. Individuals who serve voluntarily on boards often lack the specialized knowledge typically found among corporate boards, making their advice particularly valuable.
Can non-profits carry on business?
Non-profits can engage in business activities within limits. Registered charities face restrictions on engaging in unrelated business activities. Proper structuring is essential to maintain tax-exempt status.
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