Are there any special reporting requirements for donors to a nonprofit organization?

Yes, there are special reporting requirements for donors to nonprofit organizations in New York. Under state law, nonprofit organizations must disclose information on their financial position to donors upon request. This includes information on their income and expenses, the proportion of expenses covered by donations, the assets and liabilities of the organization, and the sources of any grants and contributions. In addition, the financial reports of a nonprofit must include a detailed statement of donations made during the year. This statement must provide the name and address of each donor, the total amount of donations received from each donor, and the purpose for which the donations were intended. The statement must also specify whether the donor is a related party, such as a board member, employee, or other affiliated individual. Finally, donors must be informed of their right to receive a copy of the annual report. This report must include financial statements prepared in accordance with Generally Accepted Accounting Principles, a list of officers, directors, and trustees, and a description of the nonprofit’s programs and activities. The report must also detail the total amount of donations received by the nonprofit during the year, along with descriptions of the goods and services that were funded with donor money.

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Are there any special reporting requirements for donors to a nonprofit organization?

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