Bill > SB1183

This bill, amending the Solicitation of Funds for Charitable Purposes Act, modifies the requirements for financial reporting by charitable organizations based on the amount of annual contributions they receive. Specifically, it raises the threshold for organizations that must have their financial reports audited by an independent certified public accountant or public accountant from $750,000 to $1,000,000 in annual contributions. The bill also increases the minimum contribution levels for organizations requiring a review or audit, and for those needing a compilation, review, or audit, while also establishing a new minimum for when such financial statement services are optional. These changes are intended to ensure appropriate financial oversight for charities based on their fundraising success and will apply to contributions received in calendar years beginning after the bill's effective date, which is immediately.

Government Affairs

https://www.palegis.us/legislation/bills/2025/sb1183