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How We Work
What are the benefits of being a project of Tides Canada?
Projects do not need to reinvent the wheel in setting up appropriate and Canada Revenue Agency (CRA) compliant financial management systems It is costly for smaller scale operations to create stand-alone financial and administrative systems. Our accounting and administrative infrastructure creates a solid foundation for the program work of our projects. Relying on strong support systems, Tides Canada project directors and staff can focus on developing and implementing initiatives that further our mission.
Tides Canada’s professional administrative and accounting staff help generate confidence on the part of prospective donors that finances will be well managed, with appropriate reporting systems in place.
How does it work?
Once approved, a project is a Tides Canada project and carried out within the charitable purposes and responsibilities of Tides Canada. The activities of each project must further our mission and be consistent with our policies. Tides Canada has full governing, legal, and fiduciary responsibility for all project activities. Each project establishes a steering committee, overseen by Tides Canada’s management team and ultimately, the board of directors. The committee provides advice and support for program operations.
What percentage of program revenues is used for governance and administration?
Tides Canada uses a portion of project grants and donations to support appropriate overhead costs. The administrative overhead ranges from 9% to 12% of project revenue. For smaller projects there may be a minimum allocation to reflect the actual costs of providing administrative functions. These amounts cover the costs of providing core overhead administrative and accounting functions.
Projects are expected to cover their portion of all direct costs associated with payroll services and benefits, as well as their pro rata share of Tides Canada’s insurance.
What projects won’t Tides Canada accept?
Tides Canada reviews all applications to assess your capacity to operate and carry out your proposed project activities. We assess if your project’s intended purpose and activities are considered charitable. We do not support projects that will not further our mission, or are one-time-only events such as charity concerts.
Does Tides Canada provide funding to projects?
Each project is responsible for generating its budget revenue. Tides Canada provides regulatory governance as well as the fiscal and administrative systems necessary to strengthen donor interest by maintaining excellent records and providing high levels of accountability to those making philanthropic investments in projects.
Does Tides Canada write grant proposals and otherwise solicit funds for its projects?
It is the responsibility of each project director to write the grant proposals, which will be submitted by Tides Canada. Tides Canada provides the financial information from accounting records, reviews and decides whether or not the grant proposal will be submitted.
