The following links provide you with access to additional information on the basic legal requirements relating to the keeping of proper books and records for all Canadian charities that are registered with the Canada Revenue Agency.
Canada Revenue Agency: Charities and Giving, Books and Records
Provides important information for charities on maintaining proper books and records
- Commentary of the Tax Court of Canada (TCC) decision on maintaining adequate books and records in the delivery of foreign activities: Promised Land Ministries v the Queen. Mark Blumberg. Blumberg Segal LLP. (Globalphilanthropy.ca, June 24, 2019). Retrieved online Nov. 26, 2019.
Canada Revenue Agency: Keeping Records
Guide explains the most common requirements for keeping and maintaining records and explains the most common tax situations.
Canada Revenue Agency: Electronic Record Keeping
Provides information and guidance to persons who use electronic business systems and who are required by law to keep books and records according to the Income Tax Act, the Employment Insurance Act, and the Canada Pension Plan.
Canada Revenue Agency: Books and Records Retention/Destruction
Provides information and guidance to persons who are required by law to keep books and records according to the Income Tax Act, the Employment Insurance Act, and the Canada Pension Plan.
Canadian Institute of Chartered Accountants – A Guide to Financial Statements for Not-for-Profit Organizations: Questions for Directors to Ask
The Risk Oversight and Governance Board of the Canadian Institute of Chartered Accountants has developed this Guide to help directors of not-for-profit organizations (NPOs) to understand the financial statements of the organization they serve. The Guide is designed to assist NPO directors to understand: the role and responsibilities of the board, management and the auditor in financial reporting; the concepts and terminology of financial reporting in the NPO sector; the ways in which contributions (i.e., donations) to the organization can be accounted for; and the various financial statements they will encounter in their role as an NPO director.
Chartered Professional Accountants. Improved Annual Reporting by Not-for-Profit Organizations.
What not-for-profit organizations need to know about annual reporting. Understand how not-for-profit organizations (NFPOs) can prepare annual reports that provide useful information to stakeholders and enhance the accountability of their organizations.
Imagine Canada: Charity Tax Tools
Information about keeping your charity’s financial and governance books and records, recording transactions, and preparing financial statements and other reports, including the Canada Revenue Agency’s (CRA’s) T3010.
Public Legal Education and Information Service of New Brunswick: Welcome Aboard, Resources for Board Members,
Staff and Volunteers in the Charities Sector
Includes a DVD and guidebook to help individuals better understand the roles and responsibilities of board members, executive directors and volunteers; some of the material will be relevant to books and records. This is a bilingual resource.
Capacity Builders: Charity Law Information Program (CLIP) Resources
Includes materials from workshops and webinars on such topics as: T3010, Financial and internal controls, How to read a financial statement, Practical advice on maintaining adequate books and records, and Financial management for non-financial people.
The Charities File: On Board: Treasurer’s Chest Tip Sheets
Includes information about linking expense account information to T3010 reporting line items and determining which expenses go into which category
The Charities File: On Board: Ten Practices for Managing your Charitable Status Infosheets
Includes information about the T3010 as well as books and recordkeeping in general
Public Legal Education Association of Saskatchewan(PLEA)
AccountAbility: This booklet provides information on basic bookkeeping for non-profits and outlines the financial accountability requirements of registered charities under the Income Tax Act.