1. (1) A charitable organization or sponsor that is required to initially register or annually renew registration must file an annual financial report for the immediately preceding fiscal year upon a form prescribed by the department. The report must include the following:

   1. (a) A balance sheet.
   2. (b) A statement of support, revenue and expenses, and any change in the fund balance.
   3. (c) The names and addresses of the charitable organizations or sponsors, professional fundraising consultant, professional solicitors, and commercial co-venturers used, if any, and the amounts received from each of them, if any.

   4. (d) A statement of functional expenses that must include, but not be limited to, expenses in the following categories:

      1. Program.

      2. Management and general.

      3. Fundraising.

2. (2) In lieu of the financial report described in subsection (1), a charitable organization or sponsor may submit a copy of its Internal Revenue Service Form 990 and Schedule A filed for the preceding fiscal year, or a copy of its Form 990-EZ filed for the preceding fiscal year.
3. (3) A charitable organization or sponsor may elect to also include a financial report that has been audited by an independent certified public accountant or an audit with opinion by an independent certified public accountant. In the event that a charitable organization or sponsor elects to file an audited financial report, this optional filing must be noted in the department's annual report submitted pursuant to s. 496.423.

History.--ss. 7, 26, ch. 91-208; ss. 4, 19, ch. 94-287.