The Ontario Not-for-Profit Corporations Act (ONCA) will have significant impact on the legal and structural aspects of our business. Although ONCA has been delayed by the recent provincial election, there are elements in the act which could take SBAOs a year or more to tackle. Many of the changes are welcome, but some will take time to discuss and implement.
Brenda Doner, from CLEO (Community Legal Education Ontario), delivers the straight goods about the new act, highlighting:
- important differences between the old and new legislation;
- the implications for your bylaws and articles of incorporation; members and voting; and boards of directors;
- the specific requirements for public benefit corporations;
- financial reporting requirements: audits vs. financial review engagements; and
- the things your organization should be doing now to prepare for the new act.
This webinar was presented on October 30, 2014. It was part of a series entitled “Tips for Small Budget Arts Organizations”, presented by Orchestras Canada, in cooperation with Choirs Ontario, Ontario Presents and Theatre Ontario, with generous funding from The Ontario Trillium Foundation and the Ontario Arts Council.
Link: Webinar recording (51 min.)