202.12 Regulation of charitable organizations.

316 words·~1 min read·/wi/chapter-202/202-12

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Registration requirement.

(a)Except as provided in sub.

(5), no charitable organization may solicit in this state or have contributions solicited in this state on its behalf unless it is registered with the department under this subsection.

(b)Applicants for a charitable organization registration shall apply to the department, in the form and manner prescribed by the department. Each application that is not a renewal application shall be accompanied by any information required by the department, including all of the following:

1m. The registration fee determined by the department under s. 202.041 .

2g. A reviewed financial statement for the most recently completed fiscal year of the charitable organization, if the charitable organization received contributions in excess of $500,000, subject to adjustment under sub.

(8), but not more than $1,000,000, subject to adjustment under sub.

(8), during its most recently completed fiscal year. The statement shall be prepared in accordance with generally accepted accounting principles and include a review of the financial statement by an independent certified public accountant.

2r. An audited financial statement for the most recently completed fiscal year of the charitable organization, if the charitable organization received contributions in excess of $1,000,000, subject to adjustment under sub.

(8), during its most recently completed fiscal year. The statement shall be prepared in accordance with generally accepted accounting principles and include the opinion of an independent certified public accountant on the financial statement.

(e)All charitable organization registrations expire on July 31 of each year.

(3)Annual report.

(a)A charitable organization registered under sub.

(1)shall file with the department an annual report for the charitable organization’s most recently completed fiscal year. The department shall prescribe the form of the report and shall prescribe standards for its completion. The annual report shall be filed within 12 months after the end of that fiscal year.