Financial Management in Not-For-Profit Organizations Seminar

This very popular seminar was developed by Tom Abbott, B.Comm., CGA, CAE, of Association Management Consultants Inc. and Mike Corney, MBA, CA, of Manning Elliott, Chartered Accountants.

The two half-day seminars provide expanded and more comprehensive information for Chief Executive Officers, Executive Directors, Chief Financial Officers and volunteer Treasurers. The seminars cover the operational, fiduciary and legal requirements that have to be met in managing the finances of a not-for-profit organization (NPO).

Part 1
  • The board’s fiduciary responsibilities for the financial management of the NPO
  • Payroll and GST/HST – Canada Revenue Agency Compliance
  • Employment Law and WCB
  • Conversion from HST to GST and PST
  • Government Reporting Requirements: Payroll; WCB; HST; the Society Act
  • T1044 Voluntary Report; T5s; Penalties; Taxable NPOs
  • Special requirements for registered charities
  • Surplus Funds: How much is allowed?
Part 2 
  • Financial management, budgeting; and cash flow forecasting
  • Internal control
  • Financial reporting to an NPO board
  • Changes to accounting and auditing standards
  • Roles and responsibilities of the board and the auditor
  • Audit committees
  • Advice on reducing professional fees
  • Legal requirements for the retention of records.

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Details

Length of workshop: 2 -4 hour workshop or 1 full day
What’s included: Financial Management in Not-For-Profit Organizations Workbook and a copy of “The Complementary Model of Board Governance” book.

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