FA7. What kinds of records does our Alberta charity need to keep?
As indicated, Alberta assumes three responsibilities for charitable organizations raising funds in Alberta: disclosing information to donors; preparing financial statements; and keeping proper records. The most important records are those of charitable contributions. You must keep these records for at least three years.
Every charitable organization that makes solicitations must maintain complete and accurate financial records of its operations in Alberta for at least three years after the solicitations are made. This would include:
- Original copies of financial statements
- Records regarding solicitations
- Records of the deposit bank account used by the fundraising business and any payments from that account
- The names of the signing officers for the bank account
- Samples of the kinds of information given to potential donors, including any solicitation material and phone scripts
- Copies of the fundraising agreements and any amendments
- Copies of receipts for all monetary contributions