EP5. If a charity transfers enduring property as a specified gift, is there a disbursement quota obligation for the recipient charity?


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EP5. If a charity transfers enduring property as a specified gift, is there a disbursement quota obligation for the recipient charity?

No. Enduring property received as a specified gift is excluded from the recipient charity’s disbursement quota. The charity should include the amount on line 4510 “Total amount received from other registered charities” and on line 4520 “Total specified gifts” in line 4510 of Form T3010A (05).

The donor charity cannot use the specified gift to satisfy its own disbursement quota.

Specified gifts should be identified as such in the books and records of the donor charity and recipient charity.

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