496.418 Recordkeeping and accounting.
182 words·~1 min read·
/fl/title-xxxiii/chapter-496/496-418·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Each charitable organization, sponsor, professional fundraising consultant, and professional solicitor that collects or takes control or possession of contributions made for a charitable purpose must keep records to permit accurate reporting and auditing as required by law, must not commingle contributions with noncharitable funds as specified in s. 496.415 (19), and must be able to account for the funds. When expenditures are not properly documented and disclosed by records, there exists a rebuttable presumption that the charitable organization, sponsor, professional fundraising consultant, or professional solicitor did not properly expend such funds. Noncharitable funds include any funds that are not used or intended to be used for the operation of the charity or for charitable purposes.
(2)Each charitable organization, sponsor, professional fundraising consultant, and professional solicitor must keep for a period of at least 3 years true and accurate records as to its activities in this state which are covered by ss. 496.401 - 496.424 . The records must be made available, without subpoena, to the department for inspection and must be furnished no later than 10 working days after requested.