Not For Profit

Not for Profit Corporation
Recently Ontario and Federal Not-For-Profit Corporation law has been changed.  Existing Not-For-Profits must convert to the new legislation. 

Basically, the not-for-profit corporation has members, not shareholders. Excess of revenues over expenses are surpluses not profits and the purpose of the corporation must comply with the Not-For-Profit Corporations Law.

A corporate status, protects the members and officers of the  organization, gives it a separate legal status which can enter into and  enforce contracts.

A Not-For-Profit can not grant charitable tax receipts.  This requires an application and registration by CRA (Revenue Canada).

 You will not be considered a client of  our office until either  we receive a monetary & written retainer  from you, or we provide you with a written confirmation that you are  retained as a client.

Wolfson Law Professional Corporation
Barristers & Solicitors
2345 Yonge Street, Suite 912
Toronto, ON, Canada  M4P 2E5
Tel: 416.730.1640
Fax: 416.730.0599

EMAIL US
 

Kenneth Wolfson, JD
Raquel Levine, B.Com.,JD
Kristine Holder BA, MA, LL.B.

Wolfson Law