"The functions of of The Rotary Club of Edmonton are not exclusively charitable so it does not qualify as a charity by CRA with the result it cannot issue charitable receipts. The
Trust was created by a Trust Agreement on November 8th, 1968 to be an exclusively charitable organization, is registered as such with Canada Revenue Agency (CRA) and can issue charitable receipts for contributions.”
Trust was created by a Trust Agreement on November 8th, 1968 to be an exclusively charitable organization, is registered as such with Canada Revenue Agency (CRA) and can issue charitable receipts for contributions.”
The objectives of the trust are quite broad. They are outlined in the trust agreement. I exert here. “The objects of the Trust Fund are charitable and specifically for the relief of
poverty and the advancement of religion, education and other purposes beneficial to the community and including the provision of Christmas hampers or gifts to the needy”.
These exerts are from Section 4.1 of our Policy & Procedures and the trust agreement itself. (Attachment 1 in our P & P) These may be found on our club website, about
halfway down the right-hand side. However, allow me to back up a bit. Members of our club in the mid-1960’s were very far thinking about our club structure to ensure our best
functioning and to carrying out our mission within Rotary, and within our community.
poverty and the advancement of religion, education and other purposes beneficial to the community and including the provision of Christmas hampers or gifts to the needy”.
These exerts are from Section 4.1 of our Policy & Procedures and the trust agreement itself. (Attachment 1 in our P & P) These may be found on our club website, about
halfway down the right-hand side. However, allow me to back up a bit. Members of our club in the mid-1960’s were very far thinking about our club structure to ensure our best
functioning and to carrying out our mission within Rotary, and within our community.
This entity is a key asset of the club. It provides the foundation and flexibility to our fund raising. As we are a registered charity. It qualifies us to participate in the Casino volunteer events under AGLC.
However, it does come with some work. We have three trustees to oversee the activities of this trust and ensure we comply with the objects of the trust, CRA and AGLC requirements. The trustees are, in any given year the Past-President, President and President-Elect. We must file annual returns to CRA and to AGLC of our activities, both fundraising and expenditures. We are under the scrutiny of the club, to whom we are to report annually, along with available for audit by CRA and AGLC to ensure proper use of the funds.
Is it worth it? In short, a resounding YES. It is invaluable.
We would not be the thriving, independently functioning and broad service club we are today without this trust. As discussed at the club “CSTF” AGM on November 30th, the
CSTF received a bequest and placed such with the Edmonton Community Foundation. This will ensure the objects of the CSTF are carried out in perpetuity, per the wishes of
the bequest. We have other funds that have come to the club and will in the future come to the club by virtue of having a charitable status account.
We are fortunate to be in our position today. As a club, and as Trustees of the CSTF, we hold a trust with those that came before us, those who donate to the CSTF and
those who will come after us. We also hold a responsibility such that 50+ years hence the members of the Rotary Club of Edmonton will reflect and say “those folks in 1968
and 2020 sure were smart and prudent and wise. They managed well this asset that keeps on giving, and support our activities in the year 2070, and beyond”.
However, it does come with some work. We have three trustees to oversee the activities of this trust and ensure we comply with the objects of the trust, CRA and AGLC requirements. The trustees are, in any given year the Past-President, President and President-Elect. We must file annual returns to CRA and to AGLC of our activities, both fundraising and expenditures. We are under the scrutiny of the club, to whom we are to report annually, along with available for audit by CRA and AGLC to ensure proper use of the funds.
Is it worth it? In short, a resounding YES. It is invaluable.
We would not be the thriving, independently functioning and broad service club we are today without this trust. As discussed at the club “CSTF” AGM on November 30th, the
CSTF received a bequest and placed such with the Edmonton Community Foundation. This will ensure the objects of the CSTF are carried out in perpetuity, per the wishes of
the bequest. We have other funds that have come to the club and will in the future come to the club by virtue of having a charitable status account.
We are fortunate to be in our position today. As a club, and as Trustees of the CSTF, we hold a trust with those that came before us, those who donate to the CSTF and
those who will come after us. We also hold a responsibility such that 50+ years hence the members of the Rotary Club of Edmonton will reflect and say “those folks in 1968
and 2020 sure were smart and prudent and wise. They managed well this asset that keeps on giving, and support our activities in the year 2070, and beyond”.