Everything you need to know about information sheet RC190

Information Sheet RC190 is an essential piece of document required by the Canada Revenue Agency (CRA) to administer the Registered Charities program. This document helps the CRA understand the activities, governance structure, and financial position of a charity organization and evaluate its ongoing eligibility for charitable status.

If you are a registered charity, it is crucial to know everything about RC190 to ensure compliance with regulations and avoid any potential issues with the CRA. In this article, we’ll cover the most important aspects of this information sheet.

What is RC190?

RC190 is an information sheet used by the CRA to collect detailed information about a charity’s activities, governance structure, and financial position. It is also known as the Registered Charity Information Return.

The information provided in RC190 helps the CRA assess a charity’s compliance with the Income Tax Act and its regulations. It also helps the CRA to identify charities that may be engaging in non-compliant activities or may no longer meet the eligibility criteria for charitable status.

When is RC190 due?

RC190 is due six months after the end of a charity’s fiscal year. For example, if your charity’s fiscal year ends on December 31, RC190 is due by June 30 of the following year.

It’s important to note that failure to file RC190 by the due date could result in penalties and potentially the revocation of a charity’s registered status.

What information is required on RC190?

RC190 consists of several parts, each of which requires detailed information about a charity’s activities and financial position. The following are the most critical parts that require information.

Part A: Identification Information

This section requires basic information about your charity, including its name, address, registration number, and date of incorporation.

Part B: Activities

This section requires a detailed description of your charity’s activities, including:

– The charitable purposes for which you were registered,
– The programs and activities that you undertake to achieve these purposes,
– The countries where you operate,
– Your relationships with non-arm’s length entities, and
– Your political and lobbying activities.

Part C: Financial Information

This section requires detailed financial information about your charity, including:

– A summary of your financial position,
– Details of your revenues, expenditures, and surplus,
– Information about your fundraising activities, and
– Details of any loans or investments you have made.

Part D: Governance

This section requires information about your charity’s governance structure, including:

– The names and addresses of your board members and key personnel,
– Any conflicts of interest that have arisen within your organization,
– Details of your policies and procedures for financial management, and
– Details of any legal proceedings that your charity has been involved in.

Key takeaways

In conclusion, RC190 is an essential document for registered charities in Canada. It provides the CRA with detailed information about a charity’s activities, governance, and financial position, which the CRA uses to evaluate the charity’s ongoing eligibility for charitable status.

To ensure compliance with the Income Tax Act and avoid any potential issues with the CRA, registered charities in Canada must file RC190 by the due date. It’s essential to provide accurate and complete information on all parts of the document and adhering to the regulatory standards.

By staying ahead of the process of filing RC190 and brushing up on the related regulations, charities can stay out of compliance issues down the road.

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