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Thread: 5A. Discussion Items - 3. Chess Foundation of Canada

  1. #11
    Join Date
    Aug 2008
    Location
    Victoria BC
    Posts
    624

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    I receive T-slips from the financial institution and I forward them to the CFC every year since from Revenue Canada's perspective, the Foundation is part of the CFC.
    As a not for profit organization we do not have to pay tax on capital gains or income. We rarely sell any of our investments anyways.
    Paul Leblanc
    Treasurer, Chess Foundation of Canada
    CFC Rating Auditor
    CFC Governor

  2. #12
    Join Date
    Apr 2011
    Posts
    65

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    I posted this in the "other business" section but it should have been posted here.

    Saskatchewan Chess Association Funds – The CFC currently holds funds in trust for the Saskatchewan Chess Association. As “the” National organization which supports chess, it seems to me that we (the CFC)have an obligation to ensure that our provincial associations are healthy and thriving. I have no doubt that if and when the Saskatchewan provincial association comes back to life, that the CFC will be willing to assist them in any way possible. It’s obviously in the CFC’s interest to do so. The more provincial organizations we have in good shape, the better for the CFC. I hope to see the Saskatchewan Chess Association (or whatever they'll call themselves when they re-organize), will come together and work to promote chess in Saskatchewan. I would suggest that they will have to form a provincially registered society with an executive and satisfy the CFC that they will use the funds to promote and organize chess in Saskatchewan. Hopefully, someone will come forward and organize themselves to do so. Other conditions may well be imposed by the CFC to ensure the monies are put to good use before transferring the funds to the new organization to ensure legitimacy.

  3. #13
    Join Date
    Jan 2009
    Location
    Tecumseh, ON
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    Quote Originally Posted by Lloyd Lombard View Post
    I posted this in the "other business" section but it should have been posted here.

    Saskatchewan Chess Association Funds – The CFC currently holds funds in trust for the Saskatchewan Chess Association. As “the” National organization which supports chess, it seems to me that we (the CFC)have an obligation to ensure that our provincial associations are healthy and thriving. I have no doubt that if and when the Saskatchewan provincial association comes back to life, that the CFC will be willing to assist them in any way possible. It’s obviously in the CFC’s interest to do so. The more provincial organizations we have in good shape, the better for the CFC. I hope to see the Saskatchewan Chess Association (or whatever they'll call themselves when they re-organize), will come together and work to promote chess in Saskatchewan. I would suggest that they will have to form a provincially registered society with an executive and satisfy the CFC that they will use the funds to promote and organize chess in Saskatchewan. Hopefully, someone will come forward and organize themselves to do so. Other conditions may well be imposed by the CFC to ensure the monies are put to good use before transferring the funds to the new organization to ensure legitimacy.
    The existence of the money has attracted interest from individuals in Saskatchewan who were interested in accessing the funds. However when I explained what would be involved (set up a CFC affiliated provincial association that was willing to promote chess and organize chess tournaments or at least encourage their members to do so) the interest quickly flagged.

    When the moment is right I have no doubt that this will happen. We can't force it from the outside short of having the funds to parachute a chess evangelist into Saskatchewan to get the ball rolling. At some point we may have the resources to do that but for now we have to content ourselves with doing what we can.

  4. #14
    Join Date
    Apr 2011
    Posts
    65

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    I agree, I just wanted to put it out there that there was monies and assistance available in case there's someone from Saskatchewan reading this who may have an interest in starting something again in Saskatchewan.

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