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REMINDER REGARDING POTENTIAL AUDIT REQUIREMENTS FOR CHARITABLE ORGANIZATIONS

The California Nonprofit Integrity Act of 2004 SB1262 addresses certain governance requirements for nonprofit organizations that are required to file reports with the California Attorney General. An annual audit is required for such organizations that receive or accrue gross revenues of $2 million or more in any fiscal year not including government income if such governmental entity requires an accounting of those funds. Once a charitable organization qualifies for an annual audit as described above, other governance requirements are also precipitated such as the required establishment of an audit committee.

See a digest of the requirements of the SB 1262 Act at:

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