Skip to main content

IS GOODWILL A NON PROFIT ORGANIZATION? ARE YOU SCARED BECAUSE YOUR COMPANY HAS TURNED INTO ONE?


Our previous vlog Since our last post, BUSINESS RESTRUCTURING PROPOSAL: REASONS WHY GOODWILL TORONTO IS NOT ALWAYS ENOUGH, people have asked me: is Goodwill a non profit organization?  The answer is yes. The Goodwill Toronto bankruptcy has confused and astonished many people. After all, how is Goodwill a non profit organization, go bankrupt? Isn’t the very nature of a non-profit or not-for-profit that it doesn’t have to make a profit?  Yest, but by the same token, it also should not sustain losses either.  At our Firm, we each volunteer at a different non-profit whose cause we believe in. The non-profit’s annual budget is not supposed to sustain a loss, but in carrying out the aims of the organization, it also does not have to make an operating profit unless of course the non-profit is trying to amass funds to designate for a specific purpose. Unfortunately to the amazement and dismay of many, Goodwill Industries of Toronto, Eastern, Central and Northern Ontario has filed for
http://www.irasmithinc.com/blog/is-goodwill-a-non-profit-organization/

Popular posts from this blog

THE HUDSON'S BAY COMPANY EFFECT: OUR COMPREHENSIVE GUIDE ON THE DOWNFALL OF CANADA'S OLDEST RETAILER

  THE HUDSON'S BAY COMPANY EFFECT: OUR COMPREHENSIVE GUIDE ON THE DOWNFALL OF CANADA'S OLDEST RETAILER Ira Smith Trustee & Receiver Inc. 167 Applewood Crescent #6, Concord, ON L4K 4K7 (647) 799-3312 VISIT THIS SITE: https://irasmithinc.com/blog/hudsons-bay-company/ Discover the fascinating story of Hudson's Bay Company, Canada's oldest retailer, and its downfall. With over 350 years of history, HBC was a symbol of Canadian commerce and tradition. However, the rise of e-commerce and failure to adapt led to its decline. Key factors include an extensive real estate portfolio, debt accumulation, and strategic missteps. Introduction to HBC's history Early warning signs and market changes Critical factors in HBC's decline Learn from HBC's mistakes and take proactive steps to secure your business's future. Like, subscribe, and hit the notification bell for more business survival strategies. If you're struggling with debt, schedule a free consultation wi...
Read more

PENSIONS IN BANKRUPTCY: FEDERAL CONSERVATIVE PARTY PROMISE MASSIVE CANADIAN WORKER PENSION PROTECT1ON

We hope that you and your family are safe, healthy and secure during this COVID-19 pandemic. Ira Smith Trustee & Receiver Inc.  is absolutely operational and Ira, in addition to Brandon Smith, is readily available for a telephone consultation or video meeting.   Pension & Bankruptcy in Canada Underfunding is a major concern for traditional, defined-benefit pension plans.  In other words, do they have enough pension assets and therefore enough money to meet their projected future pension obligations ?  Inadequate actuarial assumptions, poor investment returns, and mismanagement can lead to pension plan underfunding .  In the case of corporate insolvency of a large employer with a defined-benefit pension plan , this issue always arises. Underfunded pensions in bankruptcy wind up hurting retirees. The Sears Canada court-supervised liquidation forced us to again focus on the treatment of pensioners in corporate bankruptcies under the Bankruptcy ...
Read more

Published on YouTube: SOCIAL MEDIA DEFAMATION & BANKRUPTCY: A GAME-CHANGER FOR CANADIAN INSOLVENCY PRACTITIONERS

SOCIAL MEDIA DEFAMATION & BANKRUPTCY: A GAME-CHANGER FOR CANADIAN INSOLVENCY PRACTITIONERS THIS BLOG GOES LIVE ON MONDAY, JULY 1, 2024 AT NOON SOCIAL MEDIA DEFAMATION & BANKRUPTCY: A GAME-CHANGER FOR CANADIAN INSOLVENCY PRACTITIONERS Ira Smith Trustee & Receiver Inc. 167 Applewood Crescent #6, Concord, ON L4K 4K7 (647) 799-3312 VISIT THIS SITE: https://ift.tt/hOvWKnN In this video, we're discussing the significant importance of a recent social media defamation case ruling on Canadian bankruptcy and insolvency. In this video, we'll break down the key takeaways and what you need to know to stay ahead of the curve. I discuss a recent defamation case decision from the Ottawa, Ontario Court where Chelsea Hillier faces the repercussions of online defamation as she is ordered to pay damages despite declaring bankruptcy. #SocialMediaDefamation #CanadianBankruptcy #InsolvencyLaw #DefamationLaw #TrusteeInBankruptcy #LicensedInsolvencyTrustee #CanadianInsolvency #BankruptcyAn...
Read more