Last week, we blogged about giving pennies to charity and how much it could possibly cost charities to collect those pennies.
Blake Bromley of Benefic goes even deeper on the topic in the Huffington Post, linking in the possibility of American and other foreign pennies making their way into collection jars and how this poses another problem for charities since the recent budget also makes it harder for Canadian charities accepting foreign donations.
Excerpt from the Huffington Post:
“The federal budget of March 29 will require charities to provide information on the extent to which they are funded by foreign sources. Counting out pennies before issuing a charitable donation tax receipt is an administrative expense for a charity. It is a much greater administrative expense for a charity to be required to sort out all the American pennies and report them as foreign source funding to the Canada Revenue Agency (CRA).”
The article goes on to explain how the new reporting of foreign funding could greatly impact environmental, Muslim and other religious charities. It’s a really interesting ready, which you can find here.