Allan, thanks for your support! Canada has a very complicated system when it comes to registering charities. Not only can it easily take over a year working with the Canadian Revenue Agency (CRA) to get registered, but the annual upkeep needed by professional accountants and lawyers will likely not make it worth while for many high-impact charities as it would cost more than our platform. It is likely, however, that in other countries with different tax structures that the reverse would be true.
As for our value add for Canadian-registered charities, our primary reason for setting up RC Forward this way was the ease and consistency of donor experience. If donors create an account with CHIMP (they don’t have to), they are able to put money into their account and distribute it easily as they see fit among any number of charities. Since a large number of donors come in from GiveWell or other EA hubs, we would essentially be making it “one-stop shopping”.
Allan, thanks for your support! Canada has a very complicated system when it comes to registering charities. Not only can it easily take over a year working with the Canadian Revenue Agency (CRA) to get registered, but the annual upkeep needed by professional accountants and lawyers will likely not make it worth while for many high-impact charities as it would cost more than our platform. It is likely, however, that in other countries with different tax structures that the reverse would be true.
As for our value add for Canadian-registered charities, our primary reason for setting up RC Forward this way was the ease and consistency of donor experience. If donors create an account with CHIMP (they don’t have to), they are able to put money into their account and distribute it easily as they see fit among any number of charities. Since a large number of donors come in from GiveWell or other EA hubs, we would essentially be making it “one-stop shopping”.