Globe and Mail: Tables turned on Charity Intelligence as charitable status revoked
Globe and Mail, Sep 24, 2012 | FULL REPORT
When Kate Bahen retired from her job as an equity analyst on Bay Street, she decided to apply her analytical skills to the charitable sector.
She created Charity Intelligence Canada (CI) in 2007, a Toronto-based charitable foundation that rates the financial management and transparency of dozens of Canadian charities. It was a novel approach and Ms. Bahen has drawn praise for CI’s analysis.
But she has also ruffled feathers among many in the not-for-profit sector who have questioned CI’s work.
Now, after years spent highlighting shortcomings in other charities, Ms. Bahen is facing questions about CI’s management. The Canada Revenue Agency recently revoked CI’s charitable status after the foundation failed to file an annual financial report with the tax agency.
The revocation means CI, which relies on donations, can’t issue tax receipts and can’t reapply for charitable status until it pays a $500 penalty. The application process can take several months.
Ms. Bahen said that the missed filing was an oversight and that the foundation has already taken steps to submit the mandatory report with CRA and reapply for status. It has also posted audited financial statements for 2011 on its website.