Is Your Accountant Smoking Something? Who says you will lose your NFP status with a reserve fund?

If you are told your not-for-profit status is in jeopardy by having a surplus or an operating reserve of more than 3-6 months, it is time to find a new accountant! The Canada Revenue Agency has made no statement¬†ever about the amount of operating reserves that is acceptable for not-for-profits. To determine the optimal reserve…