What Corporate Records Must a Not-for-Profit Corporation Keep?

A corporation is legally obligated to keep the following records at a location in Canada chosen by the directors:

1. Articles of Incorporation and Articles of Amendment;
2. By-laws and their amendments;
3. Minutes of members meetings;
4. Members resolutions;
5. Debt obligations register (where relevant) showing: (a) the name and residential or business address of each debt obligation holder; (b) an email address; (c) the date of debt entered into; (d) the date on which debt was ceased; and (e) the principal amount of the debt;
6. Director’s register showing the (a) names, (b) residential address, (c) email address, (d) the date of appointment, and (e) the date of termination;
7. Officers register showing the (a) names, (b) residential address, (c) email address, (d) the date of appointment, and (e) the date of termination;
8. Members register showing the (a) names, (b) residential address, (c) email address, (d) the date of appointment, (e) the date of termination, and (f) the class or group of membership of each member, if relevant.

In addition to the records mentioned above, not-for-profit corporations must keep financial records and supporting documentation, including receipts, invoices, and bank statements, for at least six years. These records must show all monetary transactions and the corporation's financial position and be kept in a manner that allows for accurate and timely preparation of financial statements.

Not-for-profit corporations must also maintain a record of all donations received, including the donor's name, address, and the amount and date of the donation. This record must be kept for at least six years and available for inspection by the Canada Revenue Agency upon request.

Furthermore, suppose a not-for-profit corporation is a registered charity. In that case, it must maintain additional records, such as a list of all disbursements made by the charity and a copy of any tax receipts issued to donors.

Not-for-profit corporations are legally required to maintain accurate and complete records, which helps ensure transparency and accountability to members, donors, and other stakeholders.