Not for Profit Corporation
Basically, the not-for-profit corporation has members, not shareholders. Excess of revenues over expenses are surpluses not profits and the purpose of the corporation must comply with the Not-For-Profit Corporations Law.
A corporate status, protects the members and officers of the organization, gives it a separate legal status which can enter into and enforce contracts.
A Not-For-Profit can not grant charitable tax receipts. This requires an application and registration by CRA (Revenue Canada).
You will not be considered a client of our office until either we receive a monetary & written retainer from you, or we provide you with a written confirmation that you are retained as a client.
Wolfson Law Professional Corporation
Barristers & Solicitors
2345 Yonge Street, Suite 912
Toronto, ON, Canada M4P 2E5
Kenneth Wolfson, JD