Le Devoir, in turn, has the status of a registered press organisation

Turn daily duty It falls under the federal umbrella of nonprofit organizations that can issue receipts for donations.

duty It announced Thursday that it has obtained registered journalistic organization (JEO) status, giving it certain tax advantages, particularly the ability to issue official receipts that allow donors to report the amounts given on their tax returns. The newspaper will also now benefit from tax relief on its income.

Like all news media, the daily newspaper founded by Henri Bourassa in 1910 is suffering from a significant decline in advertising revenues, which have been monopolized by web giants.

duty Join like this Journalism and the six daily newspapers of the National Independent Information Cooperative (Le Soleil, La Tribune, Le Noveliste, Le Droit, Le Quotidien And Voice of the East), who are, among others, among the beneficiaries of the situationOJE.

Friends of Duty has been disbanded

duty She was already relying on significant charitable support through Les Amis du Devoir, created in 1916, but her donors were unable to deduct her contributions. This organization will be dissolved, as donations will now be collected directly by the daily newspaper itself.

The administration hopes that this situation will allow it to expand its donor base, and notes that it will now also be possible to receive donations from recognized charities. In parallel, duty It will retain its paid subscription model for both paper and online, a model its administration says it wants to defend violently.

if duty It didn’t exist, we had to invent it! We are confident that we will be there for readers who are proud to be part of our community of values. By subscribing or donating, they send us the same message: Keep going. This is the greatest sign of appreciation we could hope for.The newspaper’s director, Brian Miles, confirmed in a press statement.

Change for shareholders

Since its founding, the daily newspaper has developed under the legal umbrella of La Fiducie Le Devoir. The transformation announced on Thursday requires the company to make a major adjustment to its legal structure, and thus to institutional and private shareholders. They accepted the conversion of their preferred shares into a loan in an amount equal to their initial contribution. In doing so, they waived any possibility of obtaining profits, redemption or remainder in the event of liquidation or dissolution.we specify in the press release.

However, this new structure ensures that shareholders, including the editorial union, Retain their voting rights and seat on the company’s board of directors duty.