Bill > HB483

This bill, concerning charitable organizations in Maryland, aims to adjust the financial thresholds that trigger requirements for audits and reviews when these organizations register with the Secretary of State. Specifically, it increases the minimum gross income from charitable contributions that necessitates an audit by an independent certified public accountant from $750,000 to $1,000,000, and similarly raises the threshold for requiring a review from $300,000 to $500,000, while also setting the upper limit for a review at $1,000,000. Additionally, the bill increases the amount of cash receipts from charitable contributions that a charitable organization can attest to via an affidavit, instead of providing a full audit or review, from $300,000 to $500,000, provided these receipts do not exceed 20% of the organization's gross income used for program services or general expenses. The Secretary of State also gains the authority to require an audit or review for organizations with gross incomes below the new $1,000,000 threshold.

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https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0483?ys=2026RS