Section 400.60  Annual Reports for Charitable Organizations

a)         To complete a proper annual report filing, all annual reports required under the Act must be filed on the form set forth in Appendix A, Illustration D of this Part and with the attachments prescribed by the form and this Section, signed by both the president of the organization or other authorized officer, and the chief fiscal officer, and with all required statutory fees paid prior to the due date.

b)         Each annual financial report is due within six months after the close of the organization's fiscal year.  An organization may request a 60 day extension of the due date pursuant to Section 4(f) of the Act.

c)         Failure to file a complete annual report including all required attachments, along with payment of fees due prior to the due date, shall result in the organization being classified delinquent, and shall subject the organization to the payment of a late filing fee.

d)         On each annual report an organization must report separately all program costs associated with a joint cost fundraising appeal to the extent such was allocated to charitable program service expense and included on the annual report as charitable program service expense.  The organization must maintain written records showing how the allocation was determined and the reasoning behind it.

e)         The form and attachments required for an organization's annual report is determined by the amount of its revenue and assets during the reporting fiscal period or whether it has used the services of a paid professional fund raiser as follows:

1)         Any organization which received contributions of more than $150,000 in any reporting fiscal year or any organization which employed professional fund raisers during any part of the fiscal year who raised contributions totaling more than $25,000 during the organization's fiscal year must file:

A)        The Illinois Charitable Organization Annual Report form signed by the president and the treasurer and/or two trustees;

B)        A copy of the Federal Internal Revenue return and/or report as required by the Internal Revenue Codes and incorporated attachments for the same period;

C)        A financial report accompanied by financial statements and the certification of an independent certified public accountant.  Certification must be in the form of an unqualified opinion letter;

D)        All required statutory fees, including all late fees and re-registration fees; and

E)        If the organization employs a professional fund raiser, the Illinois Fundraising Campaign form for each professional fundraising campaign conducted during the fiscal period in the form set forth in Appendix A, Illustration E of this Part.

2)         Any organization with contributions more than $25,000 but not in excess of $150,000, or any organization which employed professional fund raisers who raised contributions of $25,000 or less during the organization's fiscal year, need not file an independent certified public accountant's opinion but must submit all of the other items required and listed in subsection (e)(1) above.

3)         Any organization which received contributions of more than $15,000 but not in excess of $25,000 during its fiscal year must file an annual report, but it may make a simplified filing by submitting:

A)        A financial statement using the Illinois Charitable Organization Annual Report form disclosing total receipts, total disbursements and assets on hand at the fiscal year end, accompanied by an attestation to the truth of the financial statement; and

B)        All required statutory fees.

4)         Certain organizations registered under the Act that are not required to file an annual report for a specific fiscal year under the Act, may be required to file under the Charitable Trust Act [760 ILCS 55].

f)         Charitable organizations which have made a consolidated registration pursuant to Section 2(g) of the Act shall include in their annual report such additional detailed financial information as will fairly represent the financial position of each of the affiliated groups.

g)         The Attorney General shall, upon written request, extend for 60 days the time for filing the annual financial report.

h)         If an organization is entitled to an additional extension for good cause by the Internal Revenue Service, which would extend its federal tax return or report due date to a date later than the Attorney General's due date, the organization may obtain an additional extension from the Attorney General coinciding with the same Internal Revenue Service due date.  Extension requirements are:

1)         This extension request must be made prior to the due date for the Attorney General's annual financial reports and must include:

A)        A written request for such additional extension;

B)        A completed and signed Illinois Charitable Organization Annual Report form;

C)        Financial statements, including a balance sheet and report of income and expenses for the subject period in final or interim form;

D)        All required statutory fees; and

E)        A copy of the application for extension of time filed with the Internal Revenue Service.

2)         The filing of all required reports must be done on or before the Internal Revenue Service extended filing date and shall include:

A)        A copy of the approved Internal Revenue Service application for extension;

B)        A copy of the Federal tax return or report; and

C)        Audited financial statements if required by the Attorney General and not previously filed.

i)          Failure to file a timely and complete financial report will result in penalty fees and/or a fine and subjects the organization's registration to cancellation.

j)          Upon cancellation the organization must cease operations.

(Source:  Amended at 24 Ill. Reg. 14684, effective September 21, 2000)