CBET Donation –Source, Process, Appreciation,Tax receipts, utilization and Benefits, Fakruz Zaman, General Secretery CBET
CBET is a Canadian Registered Charity (Reg .No 80114 6101 RR0001). It provides scholarship to needy students in Canada and Bangladesh. Since 2013 it has provided 50 scholarships in Canada each of $500 and provided 600 scholarships each of $200 to needy college students in rural remote areas in Bangladesh.
Donor Source: Sole source of revenue for CBET is charitable donations from friends, familes, community members, Community organizations, and different masjids in Ottawa-Gatineau. CBET has a database of donors from diversified communities across Canada.
Fundraising Events: Once in a year Fundraising dinner in the presence of local guests, dignitaries and leaders of different organizations.
Ramadan Fundraising drive at different local masjids, at different community Ifter events and fromd friends and families.
CBET Annual CBET Iftar program at the presence of 500 guests
Online fundraising drive via sending emails to our donors, prospective donors during Ramadan
Send request to CBET donors via Canadiandream.cbet.ca newsletter
Fundraising during different CBET events such as Summer BBQ & Sports day, AGM (annual general meeting), Phita festival
Appeal to Canadain of any faith, during CBET Bangladesh Window TV channel viewers which is done once in a month
Use social media such as CBET Facebook page, Twitter handle and YouTube to appeal to our donors throughout the year to donate for the cause
Donation methods: Large portion of the donations are received via PayPal, debit machine, Cheques, using SMS, CBET App for Android, United Way Campaign and some in Cash. Donations are received during different events throughout the year using these above methods. CBET website www.cbet.ca has three buttons to donate 1. General donation using earning money 2.Sadaqa button 3. Zakat button
Letter of acknowledgment and appreciation: Immediately after receiving the donation a letter of acknowledgement and appreciation gets emailed to the donor by CBET Secretary
Preserve donation info into Cloud drive: CBET has its own Cloud drive to preserve the donation record for accounting purposes which is maintained by CBET Secretary. Entry is done immediately after the donation is received. This Cloud drive is also used as an archive to trace any donations made in previous years
Preserve Donation Data into Tax software: CBET maintains a Chairty Tax software and maintains donors name, email address, address and donation amounts used to send in February of next year to send a CRA tax receiopt, where each donor gets abut 30% of his/her mony back duing fileing of CRA TAx Return.
Transfer donations into CBET bank account: Any donations received via PayPal, Cheque and cash amounts gets verified by CBET before making deposits to CBET bank account
Issue tax receipts: CBET has its own tax software to generate tax receipts which gets emailed to each and every donor by February of each year.
Details on How Funds are used on AGM report:Every year in February CBET holds an Annual General Meeting (AGM) and invites donors, community members, local dignitaries and leaders from different donor organizations. CBET presents Annual General Report explaining what activities were taken place to promote the organization and its cause.
CBET also presents a detailed financial statement what amounts were raised in total, amounts allotted to fund scholarship program, mission of the organization, amounts that were allotted for expense. Also next year Budget is presented.
Details of the report is available on website www.cbet.ca