FA8. What kinds of financial information does our Alberta charity need to keep?
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As indicated, Alberta assumes three responsibilities for charitable organizations raising funds in Alberta: disclosing information to donors; preparing financial statements; and keeping proper records A charitable organization must prepare and may be required to produce
copies of its most recent audited financial statements if it has raised $250,000 or more through solicitations
a copy of its financial information return if it has raised less than $250,000.
Copies of all solicitation materials, canvassing scripts, and other solicitation documents may also be examined and reviewed.
The financial statements must identify all expenses incurred for the purpose of solicitation and include:
- Information on the gross contributions received
- A summary of dispositions of contributions (with a separate description of each disposition equal to or greater than 10 per cent of the gross contributions received)
- The total amount paid as remuneration to employees of the charitable organization primarily responsible for fundraising
- The amount of remuneration paid to the fundraising business used, if applicable Section 39 of the Charitable Fund-Raising Act gives Service Alberta the authority to enter premises and to inspect, examine and copy books, records, and other documents that are required to be kept under the act, to ensure conformance and compliance with the legislation.
Providing false information in a solicitation or failing to maintain complete and accurate records could result in cancellation or suspension of your registration and/or prosecution under the Act.