not-for-profit

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This blog was originally posted on the Manning Elliott website, and written by Patrick Chan and Brandon Kelley.


Within Part III of the Handbook - Accounting Standards for Not-for-Profit Organizations, Section 4410 provides guidance on revenue recognition for contributions which are non-reciprocal transfers to an NPO, the most common example being government funding.

Contributions are Classified Into Three Different Types

i) Restricted Contributions

Externally imposed stipulations that specify how the resources or assets must be used.

ii) Endowment Contributions

Externally imposed stipulations...

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The Government of BC has asked for feedback on their discussion paper, BC’s Recovery from COVID-19This is a great opportunity to influence BC's recovery. We are sharing some resources for not-for-profits who would like to provide input. Vantage Point sent the letter below to provide our input on the importance of investing in not-for-profits for the recovery. The deadline to for input is Tuesday, July 21, at 4pm.
 
Ways you can provide input:

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We are joining colleagues across Canada to emphasize the urgency of a federal proposal to support and strengthen charities and nonprofits across the country.

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In BC, as in the rest of Canada, charitable and not-for-profit organizations are currently seeing an increased demand for their services, increased operating costs, and have lost major sources of revenue. We employ over 86,000 people across the province. We also contribute up to $6.69 billion in programs and services per year. Beyond the essential services and support we provide for our most vulnerable, our sector is also a critical engine of economic prosperity and jobs.

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The Honourable William Francis Morneau
Department of Finance Canada
90 Elgin Street
Ottawa, Ontario
K1A 0G5
Vancouver, BC, April 8, 2020

Subject: Make the Canada Emergency Wage Subsidy Immediately Available to All Charities and Community Not-for-Profits

I am writing this on behalf of Vantage Point, a BC-based charity which works to support other not-for-profits throughout the province. We request the Canada Emergency Wage Subsidy be made immediately available to all charities and not-for-profits, rather than requiring not-for-profits prove a 30% revenue loss to be eligible.

The Canadian Centre...

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The Honourable John Horgan, Premier of British Columbia
Office of the Premier
Premier and President of the Executive Council
West Annex Parliament Buildings
Victoria, BC
V8V 1X4
Victoria, BC., March 24, 2020

Subject: Ensuring Not-for-Profits and Charities are Included in COVID-19 Relief Plans and Funding

BC's not-for-profit and charitable sector is actively supporting the Government of British Columbia, businesses, and the public during the COVID-19 crisis. The vital work our sector exists to accomplish - from supporting people with addictions and overdose prevention services, to supporting...

When not-for-profits in BC work together to uplift each other, we make the sector better as a whole.

As Mark Friesen wraps up his 6-year Vantage Point career to move on to his next exciting adventure, Omar Dominguez steps into his new role of Government Relations and Sector Development. Together, they summarize the broad scope of - and vision for - Vantage Point's efforts in BCs not-for-profit sector.

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To support not-for-profits through the economic impacts of COVID-19, we are offering our membership for free for a limited time.

Contact

info@thevantagepoint.ca
t: 604 875 9144
f: 604 875 0710
1183 Melville Street
Vancouver, BC V6E 2X5

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