Non-Profit Basics
This type of organization operates for a collective, public, or social benefit, rather than to generate profit
What is a non-profit organization
The first step in incorporating a non-profit under Nova Scotia law
What is choosing a unique name and reserving it with the Registry of Joint Stock Companies
This book records the official meetings and decisions made by the board of directors
What is a Minute Book
Registering a charity allows the organization to issue these for donations
What are tax receipts
This term refers to the legal responsibility a non-profit may have for the actions of its employees or volunteers
What is vicarious liability
These are the two main types of non-profits mentioned in the guide
What are provincial non-profits and federal non-
profits
This document outlines the rules and regulations for the operation of a non-profit
What are the by-laws
This document is a record of the financial transactions of a non-profit
What is a financial statement
This federal agency oversees the registration of charities in Canada
What is the Canada Revenue Agency (CRA)
This type of insurance is essential for protecting a non-profit from legal claims
What is liability insurance
This term describes the legal process of combining two or more non-profits into one entity
What is amalgamation
This is required to officially register a non-profit with the government
What is the Articles of Incorporation
This report must be filed annually with the Registry of Joint Stock Companies
What is the Annual Return
This form must be submitted to apply for charitable status
What is Form T2050
This act governs employment standards for non-profits in Nova Scotia
What is the Nova Scotia Labour Standards Code
This is the term for the legal ending of a non-profit
organization
What is dissolution
This federal act governs the incorporation of non-profits at the national level.
What is the Canada Not-for-profit Corporations Act
This document outlines the responsibilities and duties of the board members
What is the board manual
This term describes the legal requirement for charities to spend a certain percentage of their income on charitable activities
What is the disbursement quota
This term describes the legal obligation of non-profits to act in the best interest of their members and beneficiaries
What is fiduciary duty