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<body class='hmmessage'><div dir='ltr'>Thanks for this helpful outline/review, Bill.<br>Laura<br><br><div><hr id="stopSpelling">Date: Mon, 18 May 2015 05:18:06 -0500<br>From: bill.newman@plumdee.ca<br>To: finance@lists.bikewinnipeg.ca; executive@lists.bikewinnipeg.ca<br>Subject: [Finance] Charitable Status<br><br>
The prospect of Charitable Status for Bike Winnipeg has come up
several times in the past but it is not obvious where we should go
with it. <br>
Some of the considerations have to do with CRA regulations,
which are voluminous. These will affect several details of our
financial procedures. <br>
Perhaps more important is to clarify the purpose and character
of Bike Winnipeg as a whole. How is it that we want to make money
and what do we want to spend it on. This is something for the Exec
committee or the board as a whole.<br>
The following topics should included in our assessment of this
opportunity. Zennon has already been looking into the CRA and
financial implications.<br>
<br>
<b>What are the real benefits?</b><br>
<ul>
<li>real dollar value of increased donations - probably based on
an assumed percentage increase</li>
<li>Availability of additional funding grants - what actual dollar
amounts are available and what are our chances of securing this
funding.<br>
</li>
</ul>
<b>What are the direct costs?</b><BR>
<ul>
<li>Certified auditor report expense<br>
</li>
<li>Accounting system changes; clarify expense categories and
percentages.<br>
</li>
<li>Additional bookkeeping effort to improve audit trail.</li>
<li>Additional time reporting requirements for projects we
undertake.<br>
</li>
</ul>
<b>Impact on organization purposes and objectives</b><br>
<BR>
<ul>
<li>Political - how much do we want to lobby governments?</li>
<li>Educational - courses for profit or break even or subsidized?
- pamphlets and guides as expenses?<br>
</li>
<li>Social benefit (Outreach) - sponsor public events of general
interest at our expense?</li>
<li>Profit from the sale of merchandise or entertainment events?<br>
</li>
<li>The whole status of Bike Valet, it's business model, and our
relation to it.</li>
</ul>
<b>Qualifying for charitable status</b><br>
CRA has a lot to say on their website. They outline many
benefits, responsibilities, and restrictions. Zennon has studied
this in detail. <br>
(Just one example of a <b>dis</b>-<b>qualifier</b> would be
if we seek to: "retain, oppose, or change the law, policy, or
decision of any level of government in Canada or a foreign
country.")<br>
<BR>
At the moment plans are for Zennon to discuss his findings at the
next Executive Committee meeting on May 24. This will help us
develop a feel for how charitable status might be a fit for Bike
Winnipeg.<br>
<BR>
--Bill<br>
<BR>
<br>_______________________________________________
Finance mailing list
Finance@lists.bikewinnipeg.ca
http://lists.bikewinnipeg.ca/listinfo.cgi/finance-bikewinnipeg.ca</div> </div></body>
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