LET'S TALK CHARITABLE DONATION RECEIPTS!
November is Financial Literacy month in Canada so I thought we could explore some financial literacy related to charities in Canada. Rexdale Alliance Church (RAC) is a registered charity with the Canada Revenue Agency (CRA). One of the benefits of “charitable status” is the ability for a charity to issue charitable donation receipts to donors for financial gifts that it receives. (Please note that this ability is a right and registered charities not under an obligation to issue receipts.) In order to issue a charitable donation receipt to a donor, the CRA requires that a charity must collect the full name and address of the donor which will then appear on the receipt. Among other things, charitable donation receipts must contain the name of the charity, the charitable registration number of the charity, and the website of the CRA’s Charities division. Here at RAC, charitable donation receipts are issued once per year for all of a donor’s gifts received during one calendar year provided the total is at least $20. Those receipts are mailed out in late January or early February.
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