OLR Bill Analysis

SB 780

AN ACT CONCERNING THE SOLICITATION OF CHARITABLE FUNDS ACT.

SUMMARY:

This bill increases, from $ 200,000 to $ 500,000, the minimum gross receipt threshold for charitable organizations required to include an audit report with their annual financial statements. By law, all charitable organizations registered with the Department of Consumer Protection must annually file a financial report with the department, and organizations with gross revenues over $ 200,000 must also file an audit report prepared by a certified public accountant.

EFFECTIVE DATE: July 1, 2009

COMMITTEE ACTION

General Law Committee

Joint Favorable