Incorporating A Not-for-Profit Organization
Incorporating a not-for-profit organization can be a lot more complex task than it seems. In Canada, the main governing law for incorporating not-for-profit entities is the Canada Not-for-profit Corporations Act. Soliciting your company as a not-for-profit corporation is a tedious process. It involves you and your business lawyer in Edmonton to work collectively through every step of the way. Other governing laws at the provincial level are The Societies Act, The Alberta Companies Act, The Canada Corporations Act, and the Private Act of the Legislature. The focus of this article is to understand the steps involved in incorporating your not-for-profit organization. Let’s discuss these steps in detail.
According to the Canada not-for-profit Act, this is what you need to know about incorporating your not-for-profit organization:
Who can Incorporate?
One or more individuals or bodies can incorporate a not-for-profit corporation by signing their articles of incorporation. The person/persons incorporating should not be under the age of 18 years, must not be declared incapable in a court in Canada or any other court in another country, or be bankrupt.
What do The Articles of Incorporation Entail?
The articles of incorporation include the following details:
- The name of your corporation
- The province where you plan to have your registered office
- The classes or regional or other groups of members that the corporation is established to organize. The people involved in setting up the corporation.
- The total number of directors and the minimum and the maximum number of directors
- Any restrictions on the activities your corporation might conduct
- A statement of purpose of the corporation
- A statement concerning the distribution of property
Your business lawyer in Edmonton can guide you through the process and ensure successful registration of your articles of incorporation.
Getting the Certificate of Incorporation
Once you decide on the articles of incorporation, they need to be unanimously agreed on by all the directors of the corporation. These documents are then sent to the Director of the department who will review the articles of incorporation for your not-for-profit corporation and other corporate records including the notice of registration, the bylaws of the corporation, minutes of the meetings of the committee members, and a register of the members, directors and officers. After reviewing the Director will issue a certificate of incorporation for your organization.
The Next Step
Once you receive your certificate of incorporation, you will have to get your organization incorporated at the provincial and territorial level. This can be done with the help of a business lawyer in Edmonton. To know more about the things you need to do after incorporating your business, get in touch with our experts today.