NY Exec L § 172-B (2021)
2021 New York Laws EXC - Executive Article 7-A - Solicitation and Collection of Funds for Charitable Purposes 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 seven hundred fifty thousand 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.   * NB Effective until June 30, 2021   * 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.   * NB Effective July 1, 2021   * 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 seven hundred fifty thousand 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.   * NB Effective until June 30, 2021   * 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.   * NB Effective July 1, 2021   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.