A recent newsletter from RAINEY COLLINS LAWYERS discussed the above topic. The article starts: “There are some key differences between charitable trusts and incorporated societies. Which entity works best for you will depend on the type and goals of your organisation. Incorporated society An incorporated society is a membership-based organisation. Read more…
Updated 31 May 2024 Q: We are a church which is a Registered NZ Charity. Some members have suggested that we should, in addition to registration with DIA Charities Services, ‘Incorporate’ with the Companies Office (Registrar of Incorporated Societies). Is this step necessary or advisable? What are the pros and Read more…
Updated: 11 May 2024 Q: What is the difference between a Charitable Trust and an Incorporated Society? Which is best for me? The differences are clearly explained on the Registrar of Incorporated Societies website and on this very helpful blog post on the DIA Charities website. The Community Net Aotearoa Read more…
The External Reporting Board (XRB) is the Independent Crown Entity responsible for setting external reporting standards. In the latest news and information bulletin (September 2022) XRB advises: “The new Incorporated Societies Act 2022 has changed how incorporated societies need to report. The Act requires all but the smallest societies to Read more…
“The Incorporated Societies Act 2022 that was passed in April this year brings about many changes to how societies operate. One of the areas of change is how societies prepare their financial statements. From October 2023, once a society re-registers, it will have to start using External Reporting Board (XRB) Read more…
The new Incorporated Societies Act 2022
Updated 6 April 2022 The Incorporated Societies Act 2022 received Royal Assent on 5 April 2022 and came into force on 6 April. See this post SEE ALSO THE FOLLOWING POSTS ON THIS SITE: What is the difference between a Charitable Trust and an Incorporated Society? Annual Returns for Read more…
Asking “What is the “best” legal structure for a non-profit organisation” may be seen as the ‘how long is a piece of string’ type of question as the answer is far from straightforward and is dependent upon a number of factors. Indeed, in some cases, a not-for-profit organisation doesn’t even need Read more…
Q: Can you define a not for profit organisation? “There is no single agreed term that fully describes the nonprofit sector in Aotearoa/New Zealand. Rather, a number of terms are commonly used that refer to all or part of it. The application of these terms to organizations and to fields Read more…
As previously commented, the Review of the Incorporated Societies Act – commenced in 2012 – is moving glacially through the parliamentary/government process. At the start of May, the Minister of Commerce and Consumer Affairs presented a paper to Cabinet which comments on the various submissions and proposals in respect of Read more…
(Updated) In our discussions with those thinking about establishing a not-for-profit organization, it is apparent that there is still a lot of confusion about the terms ‘non-profit’, ‘not for profit’ etc. The various terms are used imprecisely and interchangeably, though the term ‘Registered Charity’ is used to refer to an organisation Read more…
Q: I am trying to determine if a non-profit is registered. Is there a list of ‘official’ not for profit organisations? A: There is no complete list of non-profit organisations in NZ. Not all non-profits are formally registered with a government department (and not all not for profit groups have to Read more…