CIRA Annual Report 2007-2008

2007–2008 CIRA Annual Report5010. DONATED PROPERTY AND SERVICES11. INCOME TAXESDuring the year, voluntary services wereThe organization is a not for profit organizationprovided. Because these services are notunder Section 149(1)(l) of the Income Tax Actnormally purchased by the organization and (Canada) and as such, is exempt from thebecause of the difficulty of determining their payment of income taxes.fair value, other donated services are notrecognized in these statements.12. COMMITMENTSCurrent LeaseThe property and equipment includesThe organization is committed to minimumcontributed computer hardware receivedamount rentals under the long term lease forfrom Sun Microsystems during the 2006 fiscal premises, which expires January 31, 2011.period as their contribution to CIRA’s work Minimum rental commitments remaining underon the ENUM project. The fair value of the this lease approximate $325,981 includingequipment received was $9,380.$115,052 due within one year. Minimumcommitments for successive years are as follows:2010 . . . . . . . . . . 115,0522011 . . . . . . . . . . . 95,877CIRA is also responsible for its share ofoperating costs, which are estimated by thelandlord to be $139,728 per annum.