HB945 Summary

• Professional solicitors must file financial reports with the attorney general no more than 90 days after the end of a solicitation campaign, and for campaigns lasting more than one year, within 90 days after each anniversary and final completion.

• Professional solicitors must maintain records for at least three years including contributor information, employee details, revenue and expenses, and bank account information used for campaign deposits.

• Commercial co-venturers must provide accounting to charitable organizations within 90 days after end of sales promotions, and for promotions lasting over one year, within 90 days after each anniversary and final completion.

• Charitable organizations are no longer required to include audit reports with their annual financial reports unless required by a governmental authority or third party, eliminating the previous $500,000 revenue threshold for audit requirements.

• Filing fees for charitable organizations are based on total revenue (using IRS Form 990 definition) ranging from $0 for less than $25,000 to $600 for $5,000,000 or more in annual revenue.