2019 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.

Universal Citation: NY Exec L § 172-B (2019)
§ 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.

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