Code of Virginia § 57-58. Ratio of fund-raising expenses to contributions to be included in registration statement.
65 words·~1 min read·
/va/title-57/chapter-5/57-58A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Each charitable organization shall, as a part of its registration statement, compute the percentage that its fund-raising expenses for its preceding fiscal year bore to its support received directly from the public during such year.
Each federated fund-raising organization shall clearly disclose on any registration the percentage that is withheld from a donation designated for a member agency.
1974, c. 574; 2003, c. 810 .