Canada Not-for-Profit Corporations Act

If you are a federally incorporated non-profit organization, incorporated under the Canada Corporations Act, there is new legislation that will affect you.  The new Canada Not-for-Profit Corporations Act replaces the old legislation for federally incorporated non-profit entities.  Every existing federally incorporated non-profit organization must transition to the new Act by October 17, 2014 to remain in good standing with the Canada Revenue Agency (“CRA”).

CRA has produced a checklist to help you if you are on the board of such a non-profit entity.

And Industry Canada has a transition guide which will also help on how to transition.

You can read the entire legislation here

What you should know is that there is a difference between a soliciting and a non-soliciting corporation which will affect how many directors it must have.  And remember, all federally incorporated non-profit organizations must make their financial statements available to their members and others with some stipulations.