Current through Register Vol. 48, No. 38, September 20, 2024
a) To complete a proper annual report filing,
all annual reports required under the Act must be filed on the form set forth
in Appendix A, Illustration D of this Part and with the attachments prescribed
by the form and this Section, signed by both the president of the organization
or other authorized officer, and the chief fiscal officer, and with all
required statutory fees paid prior to the due date.
b) Each annual financial report is due within
six months after the close of the organization's fiscal year. An organization
may request a 60 day extension of the due date pursuant to Section 4(f) of the
Act.
c) Failure to file a complete
annual report including all required attachments, along with payment of fees
due prior to the due date, shall result in the organization being classified
delinquent, and shall subject the organization to the payment of a late filing
fee.
d) On each annual report an
organization must report separately all program costs associated with a joint
cost fundraising appeal to the extent such was allocated to charitable program
service expense and included on the annual report as charitable program service
expense. The organization must maintain written records showing how the
allocation was determined and the reasoning behind it.
e) The form and attachments required for an
organization's annual report is determined by the amount of its revenue and
assets during the reporting fiscal period or whether it has used the services
of a paid professional fund raiser as follows:
1) Any organization which received
contributions of more than $150,000 in any reporting fiscal year or any
organization which employed professional fund raisers during any part of the
fiscal year who raised contributions totaling more than $25,000 during the
organization's fiscal year must file:
A) The
Illinois Charitable Organization Annual Report form signed by the president and
the treasurer and/or two trustees;
B) A copy of the Federal Internal Revenue
return and/or report as required by the Internal Revenue Codes and incorporated
attachments for the same period;
C)
A financial report accompanied by financial statements and the certification of
an independent certified public accountant. Certification must be in the form
of an unqualified opinion letter;
D) All required statutory fees, including all
late fees and re-registration fees; and
E) If the organization employs a professional
fund raiser, the Illinois Fundraising Campaign form for each professional
fundraising campaign conducted during the fiscal period in the form set forth
in Appendix A, Illustration E of this Part.
2) Any organization with contributions more
than $25,000 but not in excess of $150,000, or any organization which employed
professional fund raisers who raised contributions of $25,000 or less during
the organization's fiscal year, need not file an independent certified public
accountant's opinion but must submit all of the other items required and listed
in subsection (e)(1) above.
3) Any
organization which received contributions of more than $15,000 but not in
excess of $25,000 during its fiscal year must file an annual report, but it may
make a simplified filing by submitting:
A) A
financial statement using the Illinois Charitable Organization Annual Report
form disclosing total receipts, total disbursements and assets on hand at the
fiscal year end, accompanied by an attestation to the truth of the financial
statement; and
B) All required
statutory fees.
4)
Certain organizations registered under the Act that are not required to file an
annual report for a specific fiscal year under the Act, may be required to file
under the Charitable Trust Act [760 ILCS 55 ].
f) Charitable organizations which have made a
consolidated registration pursuant to Section 2(g) of the Act shall include in
their annual report such additional detailed financial information as will
fairly represent the financial position of each of the affiliated
groups.
g) The Attorney General
shall, upon written request, extend for 60 days the time for filing the annual
financial report.
h) If an
organization is entitled to an additional extension for good cause by the
Internal Revenue Service, which would extend its federal tax return or report
due date to a date later than the Attorney General's due date, the organization
may obtain an additional extension from the Attorney General coinciding with
the same Internal Revenue Service due date. Extension requirements are:
1) This extension request must be made prior
to the due date for the Attorney General's annual financial reports and must
include:
A) A written request for such
additional extension;
B) A
completed and signed Illinois Charitable Organization Annual Report
form;
C) Financial statements,
including a balance sheet and report of income and expenses for the subject
period in final or interim form;
D)
All required statutory fees; and
E)
A copy of the application for extension of time filed with the Internal Revenue
Service.
2) The filing
of all required reports must be done on or before the Internal Revenue Service
extended filing date and shall include:
A) A
copy of the approved Internal Revenue Service application for
extension;
B) A copy of the Federal
tax return or report; and
C)
Audited financial statements if required by the Attorney General and not
previously filed.
i) Failure to file a timely and complete
financial report will result in penalty fees and/or a fine and subjects the
organization's registration to cancellation.
j) Upon cancellation the organization must
cease operations.
