Overview
- T3010 provides information to the public/donors, i.e. it is largely a public document through CRA's charities database
- T3010 ensures compliance with the ITA and CRA's policies, such as gifts to non-qualified donees ("QDs"), foreign activities, fundraising ratio, etc.
- Why the T3010 matters to gift planners?
- How information required in the T3010 affects gift planning?
- How gift planning affects the information to be reported in the T3010?
- Provide an orientation of the T3010
- Review select issues in the T3010 relevant to gift planners
T3010 is relevant to gift planners
- T3010 is not just a tax return for accountants to complete, but has real practical implications to gift planners as well
- T3010 is public information and easily accessible to the public – including donors and the media
- Transparency and accountability builds trust and loyalty
- T3010 requires reporting information on fundraising, receipted and unreceipted gifts, DAFs, restricted gifts
- Gift planners need to know what information is available to donors, and be prepared how to respond if donors have questions (e.g., direct the questions to the finance team)
- Gift planners need to know what finance and administration are reporting
- Information in T3010 may affect a donor's decision to make gifts
- Gift planners need to obtain information from donors so that it would be available for reporting in T3010
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