PERMISSIVE TAX EXEMPTION APPLICATION - THE REDEEMED CHRISTIAN CHURCH OF GOD – VICTORIA CHAPEL
Tax exemption application for a religious organization operating a chapel at 287 Pallisier Avenue.
Town of View Royal
PERMISSIVE TAX EXEMPTION APPLICATION
Deadline: July 31, 2014
COUNCIL WILL CONSIDER APPLICATIONS FOR A PERMISSIVE TAX EXEMPTION PROVIDING THE FOLLOWING INFORMATION IS SUPPLIED:
| DATE: | July 8/14 |
| Name of Organization: | THE REDEEMED CHRISTIAN CHURCH OF GOD - VICTORY CHAPEL |
| Address: | 287 PALLISIER AVENUE, VICTORIA, BC |
| Contact Person(s): | ADEMOLA FARINU, DIRECTOR / PASTOR |
| MARG ARGLIE, DIRECTOR / TREASURER |
ATTACHMENTS REQUIRED:
- Copy of the audited financial statements for the previous year
- Copy of the state of title certificate or lease agreement (including legal description), as applicable
- Description of the programs/services/benefits delivered from the subject lands and/or improvements including participant numbers, volunteer hours, benefiting group/individuals/special needs populations, fees charged for participation
- Description of any third party use of the subject land and/or improvements including user group names, fees charged, conditions of use
- Statement if grant-in-aid approved for current year
The Director of Finance will present a summary report of the applications, relative to the eligibility criteria, to the Committee of the Whole and arrange for delegations to Committee of the Whole by applicants as necessary.
ELIGIBILITY CRITERIA: FOR EACH CATEGORY, PLEASE CHECK APPLICABLE ITEMS
A. SUBJECT PROPERTY MUST BE ONE OF:
- Land or improvements, or both, ancillary to a statutory exemption under s. 220 of the Community Charter
B. NATURE OF ORGANIZATION MUST BE:
- Non-profit organization
- Organization eligible to s. 220 statutory exemption (e.g. place of public worship, cemetery, library, Indian land, Seniors home, hospital, etc.)
C. COMMUNITY BENEFITS:
- Provide programs to and/or facilities used by youth, seniors or other special needs groups
- Offer cultural or educational programs to the public which promote community spirit, cohesiveness and/or tolerance
CERTIFICATE OF RESTORATION
SOCIETY ACT
NUMBER: S -0051994
I Hereby Certify that THE REDEEMED CHRISTIAN CHURCH OF GOD - VICTORY CHAPEL, which was incorporated on March 29, 2007 under certificate number S -0051994, and was dissolved on June 12, 2012, has on December 17, 2012 at 01:52 PM Pacific Time been restored to the register in accordance with an order under section 137 of the Society Act.
Issued under my hand at Victoria, British Columbia, on December 17, 2012
CERTIFICATE OF INCORPORATION
SOCIETY ACT
NUMBER: S-51994
I Hereby Certify that
THE REDEEMED CHRISTIAN CHURCH OF GOD - VICTORY CHAPEL
has this day been incorporated under the Society Act
Issued under my hand at Victoria, British Columbia on March 29, 2007
The Redeemed Christian Church Of God
Victory Chapel
Financial Statements
January 01, 2013 to December 31, 2013 (Prepared Without Audit - See Notice To Reader)
LEON ZUVIC TAX SERVICES
308-5340 Hastings Street Burnaby, B.C. V5B-1R1
March 25, 2014
Notice to Reader:
Have prepared the accompanying Statement of Financial Position as at December 31, 2013 and the Statement of Income for the period January 01, 2013 through December 31, 2013 from the financial records provided by the director(s) of The Redeemed Christian Church Of God, Victory Chapel.
In the preparation of the financial statements, generally accepted accounting principles were adhered to and no material deviations in this respect were found. The principal concern in this engagement was the analytical enquiry and the comparison of the provided information for the purpose of producing financial statements.
In the process of this engagement there has been no audit and hence, no qualified opinion is expressed in regards to these statements.
Sincerely, Leon Zuvic, RPA
The Redeemed Christian Church of God
Victory Chapel
Statement Of Financial Position
As At December 31, 2013 (Prepared Without Audit - See Notice To Reader)
| Assets | ||
|---|---|---|
| Current Assets | ||
| Business chequing account | $3,504 | |
| Short Term Investments | 0 | |
| Term deposit/GIC | 163,314 | |
| GST/HST rebate receivable | 1,996 | |
| 168,813 | ||
| Capital Assets | ||
| Furnishings & equipment | 2,163 | |
| Leasehold improvements | 3,574 | |
| 5,737 | ||
| Total Assets | 174,550 | |
| Liabilities | ||
| Current Liabilities | ||
| Accounts payable | 2,675 | |
| Total Liabilities | 2,675 | |
| Net Assets | 171,875 | |
| $174,550 |
The Redeemed Christian Church of God
Victory Chapel
Statement of Income
For The Year Ended December 31, 2013 (Prepared Without Audit - See Notice To Reader)
| Income | ||
|---|---|---|
| Contribution Income | ||
| Tax receipted gifts-offerings/tithes/missions/building fund | $218,293 | |
| Non tax receipted gifts(anonymous)-offerings/tithes/others | 13,515 | |
| GST rebate [from 2012] | 2,563 | |
| Bank interest | 320 | |
| Other Income - refunds | 0 | |
| Total Income | 234,691 | |
| Expenditures | ||
| Remittance Account - RCCG | 3,354 | |
| Operating Expenses | ||
| Advertising | 0 | |
| Automobile expenses | 3,956 | |
| Bank fees | 356 | |
| Business fees, licences, dues | 25 | |
| Office supplies | 1,012 | |
| Amortization expense of capitalized assets | 1,732 | |
| Meals & Entertainment | 0 | |
| Professional fees | 650 | |
| Salaries, wages & benefits | 30,000 | |
| Employer's portion of employee benefits | 2,101 | |
| GST/HST on expenses | 3,227 | |
| Honorarium | 7,700 | |
| Subtotal Operating Expenses | 50,759 | |
| Occupancy Expense | ||
| Facility Rental | 33,559 | |
| Utilities - Telephone/Cable/Hydro | 5,122 | |
| Maintenance & repairs | 1,177 | |
| Building Insurance | 750 | |
| Subtotal Occupancy Expense | 40,608 | |
| Departments/Committees | ||
| Music instruments/equipment/books | 1,064 | |
| Children's church | 111 | |
| Church supplies | 3,954 | |
| Subtotal Departments/Committees | 5,129 | |
| Ministry Expense | ||
| Care Ministry | 0 | |
| Food costs/Socials | 1,339 | |
| Evangelism/outreach | 5,713 | |
| Flowers/gifts | 0 | |
| Street Ministry | 0 | |
| Gifts to qualified donees | 2,100 | |
| Subtotal Ministry Expense | 9,152 | |
| Travel & Meetings Expense | ||
| Travel, conference, convention, meeting | 1,764 | |
| Subtotal Travel, Conference, Convention & Meetings | 1,764 | |
| Total Expenses | 110,766 | |
| Excess Income/Expenses | $123,926 |
The Redeemed Christian Church Of God
Victory Chapel
Notes To The Financial Statements
As at December 31, 2013 (Prepared Without Audit - See Notice To Reader)
Significant Accounting Policies
A) Income recognition - income is recognized when earned for the fiscal period in question.
| Tax Receipted Gifts | Non-Tax Receipted Income | ||
|---|---|---|---|
| Offerings/tithes/missions/building fund | $218,293 | Offerings/tithes/missions/building fund | $13,515 |
| GST rebate claimed 2012 tax year | 2,563 | ||
| Bank interest | 320 | ||
| Other Income - refunds | 0 | ||
| Total | $218,293 | Total | $16,398 |
B) Remittance account - RCCG - represents monthly remittance paid to North America headquarters
C) Salaries, wages, benefits & honorarium
| Pastor's salary | 30,000 | Employer's portion of | |
| Honorarium - guest speakers | 7,700 | employee benefits-CPP/EI | 2,101 |
D) Capital Assets
| Furnishings & equipment | Cost | Accumulated Amortization | Net Book Value |
|---|---|---|---|
| Musical sound system | $8,205 | $6,042 | $2,163 |
| Leasehold improvements [renovations] | 11,296 | 7,722 | 3,574 |
| $19,501 | $13,764 | $5,737 |
Furnishings and equipment are amortized at the rate of 20% per annum at the CCA rate on a declining basis. Leasehold improvements are amortized at the rate of 25% per annum on a declining basis.
End of Notes
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