Does the state require annual financial reporting by charitable organizations in addition to filing a copy of the 990 with the regulator (if filing 990 is required)?

Notice, Filing or Review of Transactions

Regulatory Action: REQUIREMENT



26 states have FINANC regulations

AL AK AZ AR CA CO CT DE FL GA

HI ID IL IN IA KS KY LA ME MD

MA MI MN MS MO MT NE NV NH NJ

NM NY NC ND OH OK OR PA RI SC

SD TN TX UT VT VA WA WV WI WY



REPORTS-FINANC-NS

REGULATORY BODY: Not Specific

NOTES: Upon request: 9 AAC 12.010 (department may request copy of 990 and/or copy of audited financial statement)

CA Code § 17510.9

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: 990 submitted with renewal application; Separate financial report required if organization “collected more than 50 percent of its annual income and more than one million dollars ($1,000,000) in charitable contributions from donors in this state during the previous calendar year”: West’s Ann.Cal.Bus. & Prof.Code § 17510.9

FL Code § 496.407

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Fla. Stat. § 496.407: Financial Statement Fla. Stat. § 986.4071: Supplemental financial disclosure required for charities with $1 million in total revenue and spent less than 25 percent of the organization or sponsor’s total annual functional expenses on program service costs Fla. Stat. § 986.4072: Financial statements for specific disaster relief solicitations are required to be filed quarterly for in-state solicitations related to a specific disaster or crisis and the organization receives at least $50,000 in contributions

FL Code § 986.4071

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Fla. Stat. § 496.407: Financial Statement Fla. Stat. § 986.4071: Supplemental financial disclosure required for charities with $1 million in total revenue and spent less than 25 percent of the organization or sponsor’s total annual functional expenses on program service costs Fla. Stat. § 986.4072: Financial statements for specific disaster relief solicitations are required to be filed quarterly for in-state solicitations related to a specific disaster or crisis and the organization receives at least $50,000 in contributions

FL Code § 986.4072

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Fla. Stat. § 496.407: Financial Statement Fla. Stat. § 986.4071: Supplemental financial disclosure required for charities with $1 million in total revenue and spent less than 25 percent of the organization or sponsor’s total annual functional expenses on program service costs Fla. Stat. § 986.4072: Financial statements for specific disaster relief solicitations are required to be filed quarterly for in-state solicitations related to a specific disaster or crisis and the organization receives at least $50,000 in contributions

REPORTS-FINANC-NS

REGULATORY BODY: Not Specific

NOTES: http://www.illinoisattorneygeneral.gov/charities/ag990-instructions.pdf

IA Code § 13C.2

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Within five days upon request: Iowa Code § 13C.2

ME Code § 5005-A

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: 990s and audited financial statements or a balance sheet. 9 M.R.S.A. § 5005-A; plus must file annual fund-raising activity reports, Me. Stat. tit. 9, § 5005-B

ME Code § 5005-B

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: 990s and audited financial statements or a balance sheet. 9 M.R.S.A. § 5005-A; plus must file annual fund-raising activity reports, Me. Stat. tit. 9, § 5005-B

REPORTS-FINANC-NS

REGULATORY BODY: Not Specific

NOTES: Yes, charities that raise over $200k must file both 990 and an additional financial statement

REPORTS-FINANC-NS

REGULATORY BODY: Not Specific

NOTES: Must submit campaign financial statement as well as 990

MN Code § 309.53

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Must submit 990 and/or financial statement; if total revenue exceeds $750,000, must submit audited statement: Minn. Stat. § 309.53

MS Code § 79-11-507

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Miss. Code Ann. § 79-11-507: tiered requirements for financial reporting

MO Code § 407.462

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Mo. Rev. Stat. § 407.462; https://ago.mo.gov/docs/default-source/forms/charityannualreport.pdf?sfvrsn=2 (includes space to report funds solicited or collected and funds used for fundraising)

NH Code § 7:28-c

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Must also file (jointly with any paid solicitor) a financial report for each campaign: N.H. Rev. Stat. § 7:28-c

REPORTS-FINANC-NS

REGULATORY BODY: Not Specific

NOTES: http://www.njconsumeraffairs.gov/charities/Pages/charities-registration-forms.aspx

NY Code § 172-B

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: N.Y. Exec. Law § 172-B: tiered financial reporting required

ND Code § 50-22-04

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: N.D. Cent. Code § 50-22-04

OH Code § 1716.04

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Financial statement or 990, AG may require additional information (by rule). Ohio Rev. Code § 1716.04

REPORTS-FINANC-NS

REGULATORY BODY: Not Specific

NOTES: http://www.doj.state.or.us/charigroup/pdf/2015_web_ct-12.pdf

PA Code § 162.5

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: 10 P.S. § 162.5

TN Code § 48-101-504)

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: In first year, charity must submit quarterly financial reports (Tenn. Code Ann. § 48-101-504), and all charities must submit annual financial statement and audit (if required): Tenn. Code Ann. § 48-101-506

TN Code § 48-101-506

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: In first year, charity must submit quarterly financial reports (Tenn. Code Ann. § 48-101-504), and all charities must submit annual financial statement and audit (if required): Tenn. Code Ann. § 48-101-506

TX Code § 1804.053

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Veterans orgs must submit an additional report: Tex. Occ. Code § 1804.053; Public safety orgs must specify additional information regarding past and projected future solicitation: Tex. Occ. Code § 1803.053; Law enforcement orgs need only file 990 or financial statement, Tex. Bus. & Com. Code § 303.052

TX Code § 1803.053

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Veterans orgs must submit an additional report: Tex. Occ. Code § 1804.053; Public safety orgs must specify additional information regarding past and projected future solicitation: Tex. Occ. Code § 1803.053; Law enforcement orgs need only file 990 or financial statement, Tex. Bus. & Com. Code § 303.052

TX Code § 303.052

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Veterans orgs must submit an additional report: Tex. Occ. Code § 1804.053; Public safety orgs must specify additional information regarding past and projected future solicitation: Tex. Occ. Code § 1803.053; Law enforcement orgs need only file 990 or financial statement, Tex. Bus. & Com. Code § 303.052

UT Code § 13-22-15

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: 990 and/or financial report required (determined by regulator): Utah Code § 13-22-15

VA Code § 57-49

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Financial statement or 990; Va. Code Ann. § 57-49; BUT “Each charitable organization shall, as a part of its registration statement, compute the percentage that its fund-raising expenses for its preceding fiscal year bore to its support received directly from the public during such year.” Va. Code Ann. § 57-58

VA Code § 57-58

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Financial statement or 990; Va. Code Ann. § 57-49; BUT “Each charitable organization shall, as a part of its registration statement, compute the percentage that its fund-raising expenses for its preceding fiscal year bore to its support received directly from the public during such year.” Va. Code Ann. § 57-58

WA Code § 19.09.075

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Does not require orgs to file 990s (as long as compliant with public inspection requirements), but does require orgs to file solicitation report (financial report of all solicitation of previous year) with each application/renewal. Wash. Rev. Code § 19.09.075; additional financial reporting may be required at request of the AG: Wash. Rev. Code § 19.09.210

WA Code § 19.09.210

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Does not require orgs to file 990s (as long as compliant with public inspection requirements), but does require orgs to file solicitation report (financial report of all solicitation of previous year) with each application/renewal. Wash. Rev. Code § 19.09.075; additional financial reporting may be required at request of the AG: Wash. Rev. Code § 19.09.210

DC Code § 44-1706

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: “Each registrant shall, within 30 days after the period for which a certificate of registration has been issued, and within 30 days after a demand therefor by the Mayor, file a report with the Mayor, stating the contributions secured as a result of any solicitation authorized by such certificate and in detail all expenses of or connected with such solicitation, and showing exactly for what use and in what manner all such contributions were or are intended to be dispensed or distributed.” DC ST § 44-1706

WV Code § 29-19-5

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Requires financial statement and 990. W. Va. Code § 29-19-5

WI Code § 202.12

REGULATORY BODY: Not Specific

STATUTE TEXT:

NOTES: Financial statement and 990. Wis. Stat. § 202.12