(a)(1)(A) Each charitable organization subject to this subchapter shall file with the Secretary of State an annual financial report on forms prescribed by the Secretary of State no later than one hundred eighty (180) days after the last date of the charitable organization's fiscal year.
(B) The annual financial report described in subdivision (a)(1)(A) of this section shall be accompanied by a copy of all tax or information returns, including all schedules and amendments, submitted by the charitable organization to the Internal Revenue Service for the previous reporting year, except any schedules of contributors to the organization.
(2) A charitable organization which maintains its books on other than a calendar-year basis, upon application to the Secretary of State, may be permitted to file the annual financial report described in subdivision (a)(1)(A) of this section with its tax or information returns referred to in subdivision (a)(1)(B) of this section within six (6) months after the close of its fiscal year.
(b)(1) A charitable organization with gross revenue in excess of five hundred thousand dollars ($500,000) in any fiscal year it is registered shall include with its submission of the annual financial report and tax records referred to in subdivision (a)(1) of this section an audit report of a certified public accountant.
(2) For purposes of this section, “gross revenue” does not include grants or fees from government agencies.
(c) Charitable organizations that are required to register with the Secretary of State but are not required to file an information or tax return with the Internal Revenue Service should submit in lieu of the information or tax return an annual report on forms to be provided by the Secretary of State.
(d) The Secretary of State may grant an extension of time not to exceed six (6) months for the filing of the tax records and other reports required by this section upon the charitable organization's filing a notice that states the need for an extension.
(e)(1) Every charitable organization subject to the provisions of this subchapter shall keep a full and true record in such form as will enable the charitable organization accurately to provide the information required by this subchapter.
(2) All the records shall be open to inspection and copying at all times by the Secretary of State and the Attorney General.
(3) The charitable organization shall retain records for at least five (5) years after the end of the fiscal year to which they relate.
(4)(A) Any donor lists obtained under this subsection are not subject to disclosure under the Freedom of Information Act of 1967, § 25-19-101 et seq. , without a court order authorizing the disclosure.
(B) However, donor lists and other records obtained under this subsection may be disclosed to other law enforcement agencies.
FindLaw Codes are provided courtesy of Thomson Reuters Westlaw, the industry-leading online legal research system. For more detailed codes research information, including annotations and citations, please visit Westlaw.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.