Debt tool. A debenture is a debt instrument used to raise capital. Debentures are typically used to raise short term capital for specific purposes such as adding an elevator to a building.  Debentures are unsecured by collateral or assets and are generally backed up by the creditworthiness of the borrower. A debenture was a former requirement in the old Society Act.

Subtract. An employer is required to deduct certain amounts from employees’ wages. Examples include income tax, employment insurance, and CPP which must be sent to the CRA . Another example in a unionized workplace are union dues which must be sent to the union.

Computer data. All information recorded by a computer is often referred to as digital records. Examples include email messages, documents generated by word processing software, images, spreadsheets, and databases.

Board member. An individual member of a non-profit who has been elected or appointed to manage its activities and internal affairs. Directors have duties and responsibilities under the Societies Act. They must act in the best interests of the non-profit.