Not-for-Profit & Charity Services
Big 4 Accounting and Tax supports charities, foundations, and other not-for-profit organizations with specialized accounting, tax, and advisory services.
We appreciate that the not-for-profit & charities sector has unique operational needs. From fundraising and revenue generation to budgeting and governance, organizations are constantly seeking the most efficient ways to manage resources while helping to ensure transparency and accountability.
How we can help
We serve organizations from every segment within the not-for-profit and charities sector. We have extensive experience assisting organizations of various sizes, including some of the largest not-for-profits and charities across the country to help meet their financial management, reporting and governance needs.
Compliance & Filing
- CRA T3010/T1044 Returns
- GST/HST Rebates & Compliance
- Registered Charity Status
- Public Information Returns
Services for Not-for-Profits and Charities
We provide comprehensive financial oversight tailored to the unique regulatory landscape of Canadian charities and NPOs. Our team ensures your organization remains fully compliant while optimizing resources for your mission.
Financial Management
- Full-cycle Bookkeeping
- Financial Statement Preparation
- Audit & Review Support
- Fund Accounting Setup
Board & Grant Reporting
- Grant Fund Accountability
- Quarterly Board Reporting
- Budgeting & Forecasting
- Internal Control Reviews
Why Work With Big 4 Accounting and Tax
With extensive experience navigating Canadian not-for-profit regulations, Big 4 Accounting and Tax provides the strategic oversight your organization needs to thrive. We possess a deep understanding of governance requirements and the complex funding models unique to charities and foundations in Alberta.
Our partnership approach is centered on transparency and accountability. We act as more than just accountants; we are dedicated advisors focused on helping you maintain full CRA compliance and robust board reporting, allowing you to focus on your mission-driven work with complete peace of mind.
Frequently Asked Questions
What is fund accounting and why is it important?
Unlike for-profit accounting, nonprofits use fund accounting to track contributions separated by donor intent, ensuring funds with restrictions are used only for their designated purpose.
What are the key financial statements for a nonprofit?
Key financial statements for nonprofits include:
- Statement of Financial Position (similar to a balance sheet).
- Statement of Activities (similar to an income statement).
- Statement of Functional Expenses (showing how expenses are allocated to programs, management, and fundraising).
Do charities have to file annual returns?
Yes, in Canada, registered charities must file the T3010 within six months of their fiscal year-end.
How long are not-for-profits and charities required to keep records?
Generally, organizations must keep records for a minimum of six years (for example, 6 years for the T3010 in Canada) to comply with regulatory audits.
How do charities properly issue donation receipts?
Charities must ensure receipts show the official name of the charity, registration number, donor name, amount, and date.
Can the founder of a nonprofit make a salary?
Yes, as long as the compensation is reasonable and not excessive based on industry standards, and is approved by the Board.