Minutes are important for your charity because…
- The CRA must verify all donation receipts, income and expenditures of the charity;
- Minutes keep track of the progress of the charity. They are a permanent, legal record that proves that the activities of the charity are charitable and that it is doing what it claims to do;
- Minutes inform absent members and orient new members of decisions and details regarding the current status of the charity;
- Minutes show the reasoning behind decisions made and record discussions regarding plans and policies developed;
- They are a useful guide for evaluating the charity’s work.
Aside from Minutes, other forms of records that are a good idea to keep are:
- Duplicates of donation receipts
- Any other information that would verify any donations which are eligible for a deduction or tax credit.
Which minutes should be kept?
The bylaws of a charity will usually state that minutes should be kept for the following meetings:
- Director’s meetings
- Annual general meetings
- Members’ meetings
- Board committees
- Staff meetings
It is a good idea to check the section in your bylaws that lays out of the guidelines for meetings. As an organization, you should be regularly referring back to your original plan of vision, so that all your activities will reflect it.
Is your Not-for-Profit and/or Charity properly organized? Are the minute book entries up to date and in order? Let us review your books and bring them in line with what is required by legislation.