NYS has recently announced guidance from the Executive Law section 172-B which provides the filing requirements for the Annual Financial Report. According to the Department of State website (https://www.dos.ny.gov/corps/prop146.html):
Any charitable organization registered with the Office of Attorney General that is required to file an Annual Financial Report with the Office of the Attorney General under subdivision one or two of Executive Law Section 172-b, or that is required to file a Funding Disclosure Report and/or a Financial Disclosure Report with the Department of State for a reporting period during the applicable fiscal year is also required to file such Annual Financial Report, including all required forms and attachments, with the Department of State.
The Annual Financial Report must be filed with the Department of State on or before the fifteenth day of the fifth calendar month after the close of the charitable organization’s fiscal year. (Executive Law Section 172-b)
The fee for filing an Annual Financial Report is $25.
Commonly Asked Questions
Who needs to file?
Generally, organizations that meet all three of the following criteria must now file with the Department of State:
- Registers with the Attorney General to solicit charitable contributions.
- Files Form CHAR500 annually with the Attorney General.
- Has total revenue and support exceeding $250,000.
Do organizations need to file on both the Attorney General filing portal and again on the Department of State filing portal?
Yes, within each agency, organizations can expect to submit:
- A separate Form CHAR500 containing the same information
- Form 990 and all required schedules for the most recently completed tax year
- Audited financial statements for the most recently completed tax year
- Separate, applicable filing fees
What is the filing fee?
The Department of State filing fee is $25 for all organizations. Currently, credit card payment is not available. Applicants must mail payment following the submission of their documents.
What are the due dates?
The Department of State CHAR500 filing’s due date is the same as the Attorney General’s due date. Organizations must file within four months and 15 days after the close of their tax year. For example:
- Organizations with a tax year ending December 31, 2020, have a due date of May 15, 2021.
- Organizations with a tax year ending June 30, 2021, have a due date of November 15, 2021.
Can an extension be filed with the Department of State?
Currently, the Executive Law does not authorize the Department of State to grant extensions for reports filed with the Department. However, the statute also does not authorize the Department of State to impose any penalties for non-compliance with the filing requirements. The Department will accept reports submitted for filing after the report’s due date.
Where can these reports be filed?
All reports are to be filing online to the Department of State’s website which requires a NY.Gov account. A new NY.Gov account, to file a report through the Department’s Charitable Organization Financial Reporting System, may be created here: https://my.ny.gov
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