Summary Policy

Date
September 3, 2003

Reference Number
CSP - C18

Key Words
Co-operative

Policy Statement

A co-operative can only qualify for registration as a charity where:

• it is established for purposes other than the benefit of its members (i.e., non-profit);
• no financial benefit to its members is permitted (e.g., dividends); and
• upon dissolution, the remaining assets of the co-operative are transferred to a qualified donee.

References

• Corporation, CSP - C19.
• Governing Document, CSP - G06.
• Incorporation, CSP - I08.
• Private Benevolence, CSP - P09.
• Registering a Charity for Income Tax Purposes, T4063.