EP4. If a charity transfers enduring property which it received as a specified gift, Is there a disbursement quota obligation for that donor charity?


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EP4. If a charity transfers enduring property which it received as a specified gift, is there a disbursement quota obligation for that donor charity?

No. Enduring property that was received as a specified gift is excluded from the donor charity’s disbursement quota. There are errors in the (’05) version of Form T3010A regarding the reporting of enduring property and specified gifts. Since Form T3010A is not being revised this year, Guide T4033A, Completing the Registered Charity Information Return, will be amended to instruct charities in such circumstance to include the amount on line 4920 “Other expenditures,” and on line 5000 “Total charitable programs expenditures” included in line 4950.

(Reprinted with permission from Info Sheet #12 Enduring Property by Charities Files)