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New York Minutia

Additional CHAR-500 Filing

Annually, most organizations, tax-exempt under IRC Sections 501(c)(3)  and 501(c)(4), registered with the State of New York, must file Form CHAR-500, NYS Annual Filing for Charitable Organizations with the NYS Office of the Attorney General Charities Bureau Registration Section on or before the 15th day of the fifth month after the close of the filing organization’s fiscal year. An automatic 180 day extension of time is available for the CHAR-500 filing with the Charities Bureau through the filing of the IRS form 990 .  Newly enacted Executive Law Section 172-B provides that organizations meeting the following criteria must, also, file Form CHAR-500 with the New York Department of State, as well as the Charities Bureau:

  • The organization is registered with the New York Bureau, under Article 7-A and solicits contributions in New York.
  • The organization files Form CHAR-500 annually, and
  • The organization has gross revenue or support greater than $250,000.

The additional filing with the Department of State is effective beginning for organizations with fiscal year ends of December 31, 2020. While the Department of State provided no information with respect to the new filing on its web site at this time, beyond providing access for efiling of their version of the CHAR-500 for which there is a $25 filing fee, the due date for filing is the 15th day of the 5th month after the close of the organization’s fiscal year, which for the 2020 calendar filing year is May 17, 2021.

Although there is currently no extension provision for this  duplicate filing, it is Withum’s interpretation that the duplicate filing, with the Department of State, may be automatically extended to November 15, 2021 consistent with the requirement for filing  Form CHAR-500 with the Charities Bureau Registration Section. Efforts are currently being undertaken in Albany to repeal the duplicate filing prior the November 15th date. We will provide you with updates as they are released. If this requirement is not repealed, we will contact you to remind and assist you with the additional filing.

Funding and Financial Disclosure Reports

Funding Reports

Any New York registered organization tax-exempt  under IRC Section 501(c)(3) that makes an in-kind donation in excess of $10,000 to a recipient New York organization,  tax-exempt under  IRC Section 501(c)(4) organization during a relevant reporting period is required to file a Funding Disclosure Report with the Department of State. The Funding Disclosure Report must be filed with the Department of State within 30 days of the close of a reporting period. (Executive Law Section 172-e). The semi-annual reporting periods are January 1st-June 30, reported by the following July 31st and July 1st-December 31st, reported by the following January 31st. The fee for filing a Funding Disclosure Report is $25. Note that organizations must file Schedule B with the Department of State filing, regardless of whether they file the Schedule B with the Charities Bureau Registration Section.

Financial Disclosure Reports

Any New York registered IRC Section 501(c)(4) organization  that makes expenditures for covered communications in an aggregate amount or fair market value exceeding $10,000 in a calendar year is required to file a Financial Disclosure Report with the Department of State if certain communications thresholds and expenditures are met. The Financial Disclosure Report must be filed with the Department of State within 30 days of the close of the reporting period. (Executive Law Section 172-f). The semi-annual reporting periods are January 1st-June 30, reported by the following July 31st and July 1st-December 31st, reported by the following January 31st. The fee for filing a Financial Disclosure Report is $25. These reports must include the names of individuals controlling the organization, as well as, the names of those contributing toward the covered communications expenditures.

For further information on these new New York State reporting requirements Rich Ruvelson at rruvelson@withum.com or Israel Tannenbaum at itannenbaum@withum.com.

Not-for-Profit Services

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