Income

Income of a registered charity

The income of a registered charity is the amount by which the total of the amounts received by the organization in a fiscal period exceeds the total expenditures incurred to obtain the amounts.

Income includes gifts (This link will open a new window) the charity received, other than:

• designated gifts (This link will open a new window)
• gifts of capital received by way of bequest or inheritance
• gifts received subject to a clause stipulating that the property given, or property substituted  therefore, be held for at least 10 years
• gifts received by a religious order, or the body that administers the property of a religious order, provided the gifts are made by a member of the religious order
• who has taken a vow of perpetual poverty
• gifts received from another charity, where they are reported by the donor as designated gifts, or do not constitute income of the donor
• gifts for which the charity did not issue and will not be issuing official receipts (for example, gifts from anonymous or tax-exempt donors, or amounts from collection boxes)

Income of a museum, a cultural or communications organization or a political education organization

The income of a museum, a cultural or communications organization or a political education organization corresponds to the amount by which the organization’s total revenue exceeds the total expenditures incurred to obtain the revenue, assuming the organization did not realize a capital gain or sustain a capital loss.

For further information, consult the guide Donee Required to File an Information Return (TP-985.22.G-V).