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501c3 Records

Corporate Law Discussions

501c3 Records

Postby Urian » Tue Jan 19, 2016 3:55 am

Are minutes of 501c3 corp. Board minutes and Financial statements of  501c3 corps. public records ?
Urian
 
Posts: 54
Joined: Sun Jan 19, 2014 5:25 am

501c3 Records

Postby royal » Tue Jan 19, 2016 3:30 pm

Are minutes of 501c3 corp. Board minutes and Financial statements of  501c3 corps. public records ?
royal
 
Posts: 55
Joined: Wed Jul 31, 2013 10:34 am

501c3 Records

Postby Jesus » Fri Jan 22, 2016 11:54 am

1. Financial statements.

If a nonprofit has received IRS exemption determination or files

annual returns(Form 990) with the IRS it has an obligation to

provide anyone with certain copies. See FAQs About the Exempt

Organization Public Disclosure Requirements

www.irs.gov/charities/article/0,,id=96430,00.html

Specifically for 1023 or 1024 exemption application and

supporting documents required with those applications like

articles of incorporation and bylaws as they existed at the time

they submitted them with the 1023 application.

www.irs.gov/charities/article/0,,id=135008,00.html

You may review pdf copies of filed forms 990 and form 990-Pf by

searching at:http://tfcny.fdncenter.org/990s/990search/esearch.php

Anyone may request a copy from the IRS of the 1023 application of

any exempt organization with supporting documentation and there

is no fee for non-commercial requesters, but unfortunately it

takes the IRS about 60 days to mail out the information to the

requester. Form 4506A is used.

www.irs.gov/pub/irs-pdf/f4506a.pdf

That 1023 application requires the organization to file a copy of

its bylaws(as they existing at that time).

I have in my profile that this free forum is only for relevant

IRS federal exemption issues of 501(c)(3) organizations. But I

can inform you that, even though I do not keep a list of all 50

state's laws in that area I can inform you that some states

provide certain persons, mostly voting members, with access to

more documents.  For example, Georgia allows voting members

access to minutes and accounting records of the nonprofit

corporation.

law.justia.com/georgia/codes/14/14-3-1602.html

Further, all states have charitable solicitation registration

requirements and annual reporting requirements and often those

reports are open to the public. The site

www.nasconet.org/agencies

has a list of the state offices that regulate charitable

organizations and charitable solicitations.

2. Board minutes.  For your state law on Open Records and Open Meetings

See www.rcfp.org/ogg/index.php?op=browse&state=mn

but change the last two letters from mn to your state's two

letter postal code(unless yours is in Minnesota)

specifically at 1.B.4 is Open Records for "Nongovernmental bodies

receiving public funds or benefits" and the sections nearby have

the applicable discussion. I.C. has the list of Records that must

be made available by applicable organizations.  That organization

may not even be under that classification(if it does not receive

government funds or benefits) Harvey Mechanic, Attorney at Law - [email protected]
Jesus
 
Posts: 54
Joined: Wed Jan 15, 2014 8:38 pm


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