N.Y. Executive Law § 172-b: Reports by registered charitable organizations; registration to be cancelled for failure to file

§ 172-b. Reports by registered charitable organizations; registration

to be cancelled for failure to file. 1. Every charitable organization

registered or required to be registered pursuant to section one hundred

seventy-two of this article which shall receive in any fiscal year gross

revenue and support in excess of one million dollars shall file with the

attorney general an annual written financial report, on forms prescribed

by the attorney general, on or before the fifteenth day of the fifth

calendar month after the close of such fiscal year. The annual financial

report shall be accompanied by an annual financial statement which

includes an independent certified public accountant's audit report

containing an opinion that the financial statements are presented fairly

in all material respects and in conformity with generally accepted

accounting principles, including compliance with all pronouncements of

the financial accounting standards board and the American Institute of

Certified Public Accountants that establish accounting principles

relevant to not-for-profit organizations. Such financial report shall

include a statement of any changes in the information required to be

contained in the registration form filed on behalf of such organization.

The financial report shall be signed by the president or other

authorized officer and the chief fiscal officer of the organization who

shall certify under penalties for perjury that the statements therein

are true and correct to the best of their knowledge, and shall be

accompanied by an opinion signed by an independent public accountant

that the financial statement and balance sheet therein present fairly

the financial operations and position of the organization. A fee of

twenty-five dollars payable to the attorney general shall accompany such

financial report at the time of filing, provided however, that any such

organization that is registered with the attorney general pursuant to

article eight of the estates, powers and trusts law is required to file

only one annual financial report which meets the filing requirements of

this article and section 8-1.4 of the estates, powers and trusts law.

2. Every charitable organization registered or required to be

registered pursuant to section one hundred seventy-two of this article

which shall receive in gross revenue and support in any fiscal year at

least two hundred fifty thousand dollars but not more than one million

dollars shall file an annual financial report. The annual financial

report shall be accompanied by an annual financial statement which

includes an independent certified public accountant's review report in

accordance with "statements on standards for accounting and review

services" issued by the American Institute of Certified Public

Accountants. The annual financial statement shall be prepared in

conformity with generally accepted accounting principles, including

compliance with all pronouncements of the financial accounting standards

board and the American Institute of Certified Public Accountants that

establish accounting principles relevant to not-for-profit

organizations. Such financial report shall be filed with the attorney

general, upon forms prescribed by the attorney general on an annual

basis on or before the fifteenth day of the fifth calendar month after

the close of such fiscal year, which shall include a financial report

covering such fiscal year in accordance with such requirements as the

attorney general may prescribe. Such financial report shall include a

statement of any changes in the information required to be contained in

the registration form filed on behalf of such organization. The

financial report shall be signed by the president or other authorized

officer and the chief fiscal officer of the organization who shall

certify under penalties for perjury that the statements therein are true

and correct to the best of their knowledge. A fee of twenty-five dollars

payable to the attorney general shall accompany such financial report at

the time of filing, provided, however, that any such organization that

is registered with the attorney general pursuant to article eight of the

estates, powers and trusts law is required to file only one annual

financial report which meets the filing requirements of this article and

section 8-1.4 of the estates, powers and trusts law. Notwithstanding the

requirements of this section, if upon review of an independent certified

public accountant's review report filed pursuant to this subdivision,

the attorney general determines that a charitable organization should

obtain an independent certified public accountant's audit report, such

organization shall obtain and file with the attorney general an audit

report that meets the requirements of subdivision one of this section

within one hundred twenty days of the attorney general's request for

such report.

2-a. Every charitable organization registered or required to be

registered pursuant to section one hundred seventy-two of this article

which shall receive in any fiscal year of such organization gross

revenue and support not in excess of two hundred fifty thousand dollars

shall file with the attorney general an unaudited financial report on

forms prescribed by the attorney general, on or before the fifteenth day

of the fifth calendar month after the close of such fiscal year. Such

financial report shall include a statement of any changes in the

information required to be contained in the registration form filed on

behalf of such organization. The financial report shall be signed by the

president or other authorized officer and the chief fiscal officer of

the organization who shall certify under penalties for perjury that the

statements therein are true and correct to the best of their knowledge.

A fee of twenty-five dollars payable to the attorney general shall

accompany such financial report at the time of filing. Provided,

however, that any such organization that is registered with the attorney

general pursuant to article eight of the estates, powers and trusts law

is required to file only one annual financial report which meets the

filing requirements of this article and section 8-1.4 of the estates,

powers and trusts law.

3. For any fiscal year of any organization registered pursuant to

section one hundred seventy-two of this article in which such

organization would have been exempt from registration pursuant to

section one hundred seventy-two of this article if it had not been so

registered, or in which it did not solicit or receive contributions,

such organization shall file, instead of the financial reports required

by subdivision one, two or two-a of this section, a report, signed under

penalties for perjury by the president or other authorized officer and

the chief fiscal officer, in the form prescribed by the attorney general

stating the nature of the exemption and the facts upon which it is based

or that such organization did not solicit or receive contributions in

such fiscal year. The report shall include a statement of any changes in

the information required to be contained in the registration form filed

on behalf of such organization and may include a notice, signed under

penalties for perjury by the president or other authorized officer, on a

form prescribed by the attorney general, that such organization's

registration is being withdrawn.

4. (a) Upon prior written authorization by the attorney general any

charitable organization registered pursuant to section one hundred

seventy-two of this article, which is the parent organization of one or

more affiliates thereof, and such affiliates, may comply with the

reporting requirements of subdivision one, two, two-a or three of this

section, by filing a combined written annual financial report upon forms

prescribed by the attorney general.

(b) As used in this subdivision the term "affiliate" shall include any

chapter, branch, auxiliary, or other subordinate unit of any registered

charitable organization, howsoever designated, whose policies, fund

raising activities, and expenditures are supervised or controlled by

such parent organization.

(c) There shall be appended to each combined annual financial report a

schedule, containing such information as may be prescribed by the

attorney general, reflecting the activities of each affiliate, which

shall contain a statement signed under penalties for perjury, by the

president or other authorized officer certifying that the information

contained therein is true.

(d) The failure of a parent organization to file a combined annual

financial written report shall not excuse either the parent organization

or its affiliates from complying with the provisions of subdivision one,

two, two-a or three of this section.

(e) A combined annual financial report filed pursuant to this

subdivision shall be accompanied by a fee, paid to the attorney general,

of twenty-five dollars plus ten dollars for each organization included

in such annual financial report, but the aggregate fee shall not exceed

five hundred dollars.

5. The attorney general shall cancel the registration of any

organization which fails to comply with subdivision one, two, two-a or

three of this section within the time therein prescribed, or fails to

furnish such additional information as is requested by the attorney

general within the required time; except that the time may be extended

by the attorney general for a period not to exceed one hundred eighty

days. Notice of such cancellation shall be mailed to the registrant at

least twenty days before the effective date thereof.

6. Every charitable organization registered or required to register

pursuant to section one hundred seventy-two of this article shall keep

and maintain records, books and reports for at least three years after

the end of the period of registration to which they relate which shall

at all times be available for inspection, by the attorney general, or

any duly authorized representatives at the principal office of such

organization.

7. The attorney general may accept a copy of a current financial

report previously filed by a charitable organization with any other

governmental agency in compliance with the provisions of this article

provided that the report filed with such other governmental agency shall

be substantially similar in content to the financial report required by

this section.

8. Any financial report filed by any charitable organization required

to be registered but which has not previously registered pursuant to

this article or article eight of the estates, powers and trusts law must

be accompanied by all registration material required to be filed by this

article.

9. Any registered charitable organization that is required to file a

funding disclosure report pursuant to section one hundred seventy-two-e

of this article, and/or a financial disclosure report pursuant to

section one hundred seventy-two-f of this article for a reporting period

during the applicable fiscal year shall also be required to file such

annual financial report, including all required forms and attachments,

with the department of state.