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AB 60 Compliance Toolkit AllianceForNevadaNonprofits.com/ab60/toolkit. Agenda. Read AB 60 & Proposed Regulation of NRS 82 & 598 Why AB 60? What is AB 60? Quick Summary of AB 60 by Section Major Changes That Impact Us Financial Reporting with Annual List Filing
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AB 60 Compliance ToolkitAllianceForNevadaNonprofits.com/ab60/toolkit
Agenda • Read AB 60 & Proposed Regulation of NRS 82 & 598 • Why AB 60? • What is AB 60? • Quick Summary of AB 60 by Section • Major Changes That Impact Us • Financial Reporting with Annual List Filing • Charitable Donation Solicitation Disclosures: Oral/Verbal & Written • Quick Summary of Proposed Regulations • Sample Timeline • AB 60 Solicitor Checklist 2 • Toolkit Components • Role Playing (verbal), Script-Writing & Action Plans • Questions and Answers (Q&A)
Why AB 60? Speaker: Nichole Lamboley, Chief Deputy Nevada Secretary of State (Recorded July 10, 2013)
Quick Summary • Section 3 (pages 2-4) • New nonprofit corporations must indicate intention to solicit tax-deductible charitable contributions when filing articles of incorporation. • As a nonprofit corporation in Nevada, we must file a financial report with annual list of officers: • 990-N (e-Postcard) ≤ $50,000 (Good faith estimate) • 990-EZ < $200,000 revenue + < $500,000 assets • 990 ≥ $200,000 revenue • Terms defined like “Form 990” and “Solicit charitable contributions”
Quick Summary • Section 4 (page 4) • Authorizes Secretary of State to post on website with business searches: NVSilverFlume.gov or NVSOS.gov • Section 5 (pages 4-5) • Explains process for written notices to violators • Imposes a civil penalty of not more than $1,000 • Explains “cease and desist” orders • Sections 6.5-12 (pages 5-9) • Authorizes Secretary of State’s office and Attorney General’s office to .. • Section 13 (page 9) • AB 60 becomes effective January 1, 2014.
Quick SummaryRegulations Definitions: • Contribution, donation, gift or the like • Solicit or solicitation • Executive personnel Charitable Solicitation Registration Statement • Has a field to include URL of nonprofit website, which will be shown in Nevada Business Search. The Internet address provided by the corporation must be: • The official website of the corporation; and • Kept active and maintained by the corporation. • Has a check box to verify that all funds received by the corporation will be used in compliance with the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (USA PATRIOT ACT) of 2001, Public Law 107-56.
Quick SummaryRegulations Financial Report defined. • For the purposes of providing financial information pursuant to NRS Chapter 82…, the following information as reported to the Internal Revenue Service on the corporations most recent Form 990 or 990EZ must be provided on the form prescribed by the Secretary of State: • Total revenue, as reported on line 12 of Form 990 or on line 9 of Form 990-EZ; • Total expenses, as reported online 18 of Form 990 or online 17 of Form 990-EZ; • Revenue less expenses, as reported online 19 of Form 990, or Excess (or deficit) for the year, as reported on line 18 of Form 990-EZ; • Total assets, as reported online 20 of Form 990 or online 25 of Form 990-EZ; • Total liabilities, as reported online 21 of Form 990 or online 26 of Form 990-EZ; and Net assets or fund balances, as reported on line 22 of Form 990 or on line 27 of Form 990-EZ. Financial Report using good faith estimates defined. • If a corporation is not required to file a Form 990 or 990EZ, but filed a 990N or was formed in the past year and does not have any financial information available, it shall select the box indicating it is providing a good faith estimate based on the records of the corporation … under penalty of perjury.
Quick SummaryRegulations (Written) For solicitations made electronically or in written form, be: • Clear and conspicuous on any printed material, social media account or other Internet website or electronic media which contains information about support for or contributions or donations to the person or charitable organization and on any printed material, social media account or other Internet website or electronic media whereby a solicitation is made, including, without limitation, materials provided for making a response to the solicitation and on a web page that authorizes or performs fulfillment of a contribution or donation. • If the solicitation consists of more than one piece or page, prominently displayed on any material on which a solicitation occurs. • Set apart from the other printed content in the communication. • Of a type size that is sufficient to be clear and readable by the recipient of the communication. • Printed in black or blue on a white background or, if on a background of another color or with graphics, there must be a reasonable degree of contrast of colors between the print of the disclosure and the background so as to be clearly readable.
Quick SummaryRegulations (Oral) For solicitations made orally or verbally… • Disclosures must be provided by the person making the solicitation beforethe prospective donor makes a commitment to contribute. For solicitations made on the Internet and for web pages on an Internet website that contain information about support for or contributions or donations to a person or charitable organization … • Disclosures must appear on each web page where the solicitation is made. • Disclosures must appear on the web page that authorizes or performs fulfillment of a contribution or donation.
Quick SummaryRegulations There will likely be a box to check if a solicitation is directed only to a total of fewer than 15 persons or only to persons who are related within the third degree of consanguinity or affinity … (page 4) Table of Consanguinity Source: Wikepedia
