{"id":6074,"date":"2022-02-22T12:05:20","date_gmt":"2023-08-12T08:04:04","guid":{"rendered":"https:\/\/www.millerthomson.com\/onca-fast-facts-public-benefit-corporations\/"},"modified":"2026-03-06T18:48:01","modified_gmt":"2026-03-06T23:48:01","slug":"onca-fast-facts-public-benefit-corporations","status":"publish","type":"post","link":"https:\/\/www.millerthomson.com\/en\/insights\/health\/onca-fast-facts-public-benefit-corporations\/","title":{"rendered":"ONCA Fast Facts: Public Benefit Corporations"},"content":{"rendered":"\n

In October 2021, the Not-for-Profit Corporations Act, 2010 <\/em>(\u201cONCA<\/strong>\u201d) came into force. Not-for-profit corporations incorporated in Ontario will have a three year transition period to make changes to their governing documents to comply with the ONCA. Our ONCA<\/em> Fast Facts<\/strong> series explores what is new and different in the ONCA. This week we talk about Public Benefit Corporations.<\/p>\n\n\n\n

The concept of a Public Benefit Corporation is new in the ONCA.  Public Benefit Corporations include all charitable corporations and some non-charitable corporations. A charitable corporation automatically meets the definition of a Public Benefit Corporation.  A non-charitable corporation will be considered a Public Benefit Corporation if it receives more than $10,000 annually in the form of donations\/gifts from persons who are not members, directors, officers or employees of the corporation, or in the form of government grants or financial assistance. A non-charitable corporation that is not a Public Benefit Corporation at the beginning of the financial year but meets the definition during the year will be deemed to be a Public Benefit Corporation in the next financial year as of the date of the annual meeting.<\/p>\n\n\n\n

Under the ONCA certain rules apply specifically to Public Benefit Corporations that do not apply to other not-for-profit corporations. For example:<\/p>\n\n\n\n