Code of Virginia § 18.2-340.30. Reports of gross receipts, electronic gaming adjusted gross receipts, and disbursements required; form of reports; failure to file.
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A. 1. Each qualified organization shall keep a complete record of all:
a. Inventory of charitable gaming supplies purchased.
b. Receipts from its charitable gaming operation, including a breakdown of receipts attributable to each type of game offered.
c. Electronic gaming adjusted gross receipts.
d. Disbursements related to charitable gaming and electronic gaming operations, including a breakdown of disbursements for each purpose specified in subdivision 1 of § 18.2-340.33 .
2. Except as provided in §§ 18.2-340.23 and 18.2-340.30:2 , each qualified organization shall file under penalty of perjury and at least annually, on a form prescribed by the Department, a report of all receipts and disbursements specified in subdivision 1, the amount of money on hand attributable to charitable gaming as of the end of the period covered by the report, and any other information related to its charitable gaming operation that the Department may require. In addition, the Commissioner, by regulation, may require any qualified organization, except any qualified organization that realizes annual gross receipts of $40,000 or less, whose net receipts exceed a specified amount during any three-month period to file a report of its receipts and disbursements for such period.
All reports filed pursuant to this section shall be a matter of public record.
B. All reports required by this section shall be filed on or before the date prescribed by the Department. The Commissioner, by regulation, shall establish a schedule of late fees to be assessed for any organization that fails to submit required reports by the due date.
C. Except as provided in § 18.2-340.23 , each qualified organization shall designate or compensate an outside individual or group who shall be responsible for filing an annual, and, if required, quarterly, financial report if the organization goes out of business or otherwise ceases to conduct charitable gaming activities. The Department shall require such reports as it deems necessary until all proceeds of any charitable gaming have been used for the purposes specified in § 18.2-340.19 or have been disbursed in a manner approved by the Department.
D. Each qualified organization shall maintain for three years a complete written record of
(i)all charitable gaming sessions using Department prescribed forms or reasonable facsimiles thereof approved by the Department;
(ii)the name and address of each individual to whom is awarded any charitable gaming prize or jackpot that meets or exceeds the requirements of Internal Revenue Service Publication 3079, as well as the amount of the award; and
(iii)an itemized record of all receipts and disbursements, including operating costs and use of proceeds incurred in operating bingo games.
E. The failure to file reports within 30 days of the time such reports are due shall cause the automatic revocation of the permit, and no organization shall conduct any bingo game or raffle thereafter until the report is properly filed and a new permit is obtained. However, the Department may grant an extension of time for filing such reports for a period not to exceed 45 days if requested by an organization, provided the organization requests an extension within 15 days of the time such reports are due and all projected fees are paid.
For the term of any such extension, the organization's permit shall not be automatically revoked, such organization may continue to conduct charitable gaming, or electronic gaming if authorized to do so pursuant to the provisions of this article, and no new permit shall be required.
F. For purposes of this section, the requirement to file a report shall also include the payment of any applicable fees required to accompany such report.
1995, c. 837 ; 1997, cc. 777 , 838 ; 1999, c. 360 ; 2003, c. 884 ; 2006, c. 644 ; 2007, c. 541 ; 2014, c. 208 ; 2022, cc. 553 , 554 , 609 , 722 , 767 ; 2023, cc. 592 , 593 .