§ 172-b. Reports by registered charitable organizations; registration
to be cancelled for failure to file. 1. Every charitable organization
registered or required to be registered pursuant to section one hundred
seventy-two of this article which shall receive in any fiscal year gross
revenue and support in excess of one million dollars shall file with the
attorney general an annual written financial report, on forms prescribed
by the attorney general, on or before the fifteenth day of the fifth
calendar month after the close of such fiscal year. The annual financial
report shall be accompanied by an annual financial statement which
includes an independent certified public accountant's audit report
containing an opinion that the financial statements are presented fairly
in all material respects and in conformity with generally accepted
accounting principles, including compliance with all pronouncements of
the financial accounting standards board and the American Institute of
Certified Public Accountants that establish accounting principles
relevant to not-for-profit organizations. Such financial report shall
include a statement of any changes in the information required to be
contained in the registration form filed on behalf of such organization.
The financial report shall be signed by the president or other
authorized officer and the chief fiscal officer of the organization who
shall certify under penalties for perjury that the statements therein
are true and correct to the best of their knowledge, and shall be
accompanied by an opinion signed by an independent public accountant
that the financial statement and balance sheet therein present fairly
the financial operations and position of the organization. A fee of
twenty-five dollars payable to the attorney general shall accompany such
financial report at the time of filing, provided however, that any such
organization that is registered with the attorney general pursuant to
article eight of the estates, powers and trusts law is required to file
only one annual financial report which meets the filing requirements of
this article and section 8-1.4 of the estates, powers and trusts law.

2. Every charitable organization registered or required to be
registered pursuant to section one hundred seventy-two of this article
which shall receive in gross revenue and support in any fiscal year at
least two hundred fifty thousand dollars but not more than one million
dollars shall file an annual financial report. The annual financial
report shall be accompanied by an annual financial statement which
includes an independent certified public accountant's review report in
accordance with "statements on standards for accounting and review
services" issued by the American Institute of Certified Public
Accountants. The annual financial statement shall be prepared in
conformity with generally accepted accounting principles, including
compliance with all pronouncements of the financial accounting standards
board and the American Institute of Certified Public Accountants that
establish accounting principles relevant to not-for-profit
organizations. Such financial report shall be filed with the attorney
general, upon forms prescribed by the attorney general on an annual
basis on or before the fifteenth day of the fifth calendar month after
the close of such fiscal year, which shall include a financial report
covering such fiscal year in accordance with such requirements as the
attorney general may prescribe. Such financial report shall include a
statement of any changes in the information required to be contained in
the registration form filed on behalf of such organization. The
financial report shall be signed by the president or other authorized
officer and the chief fiscal officer of the organization who shall
certify under penalties for perjury that the statements therein are true
and correct to the best of their knowledge. A fee of twenty-five dollars
payable to the attorney general shall accompany such financial report at
the time of filing, provided, however, that any such organization that
is registered with the attorney general pursuant to article eight of the
estates, powers and trusts law is required to file only one annual
financial report which meets the filing requirements of this article and
section 8-1.4 of the estates, powers and trusts law. Notwithstanding the
requirements of this section, if upon review of an independent certified
public accountant's review report filed pursuant to this subdivision,
the attorney general determines that a charitable organization should
obtain an independent certified public accountant's audit report, such
organization shall obtain and file with the attorney general an audit
report that meets the requirements of subdivision one of this section
within one hundred twenty days of the attorney general's request for
such report.

2-a. Every charitable organization registered or required to be
registered pursuant to section one hundred seventy-two of this article
which shall receive in any fiscal year of such organization gross
revenue and support not in excess of two hundred fifty thousand dollars
shall file with the attorney general an unaudited financial report on
forms prescribed by the attorney general, on or before the fifteenth day
of the fifth calendar month after the close of such fiscal year. Such
financial report shall include a statement of any changes in the
information required to be contained in the registration form filed on
behalf of such organization. The financial report shall be signed by the
president or other authorized officer and the chief fiscal officer of
the organization who shall certify under penalties for perjury that the
statements therein are true and correct to the best of their knowledge.
A fee of twenty-five dollars payable to the attorney general shall
accompany such financial report at the time of filing. Provided,
however, that any such organization that is registered with the attorney
general pursuant to article eight of the estates, powers and trusts law
is required to file only one annual financial report which meets the
filing requirements of this article and section 8-1.4 of the estates,
powers and trusts law.

3. For any fiscal year of any organization registered pursuant to
section one hundred seventy-two of this article in which such
organization would have been exempt from registration pursuant to
section one hundred seventy-two of this article if it had not been so
registered, or in which it did not solicit or receive contributions,
such organization shall file, instead of the financial reports required
by subdivision one, two or two-a of this section, a report, signed under
penalties for perjury by the president or other authorized officer and
the chief fiscal officer, in the form prescribed by the attorney general
stating the nature of the exemption and the facts upon which it is based
or that such organization did not solicit or receive contributions in
such fiscal year. The report shall include a statement of any changes in
the information required to be contained in the registration form filed
on behalf of such organization and may include a notice, signed under
penalties for perjury by the president or other authorized officer, on a
form prescribed by the attorney general, that such organization's
registration is being withdrawn.

4. (a) Upon prior written authorization by the attorney general any
charitable organization registered pursuant to section one hundred
seventy-two of this article, which is the parent organization of one or
more affiliates thereof, and such affiliates, may comply with the
reporting requirements of subdivision one, two, two-a or three of this
section, by filing a combined written annual financial report upon forms
prescribed by the attorney general.

(b) As used in this subdivision the term "affiliate" shall include any
chapter, branch, auxiliary, or other subordinate unit of any registered
charitable organization, howsoever designated, whose policies, fund
raising activities, and expenditures are supervised or controlled by
such parent organization.

(c) There shall be appended to each combined annual financial report a
schedule, containing such information as may be prescribed by the
attorney general, reflecting the activities of each affiliate, which
shall contain a statement signed under penalties for perjury, by the
president or other authorized officer certifying that the information
contained therein is true.

(d) The failure of a parent organization to file a combined annual
financial written report shall not excuse either the parent organization
or its affiliates from complying with the provisions of subdivision one,
two, two-a or three of this section.

(e) A combined annual financial report filed pursuant to this
subdivision shall be accompanied by a fee, paid to the attorney general,
of twenty-five dollars plus ten dollars for each organization included
in such annual financial report, but the aggregate fee shall not exceed
five hundred dollars.

5. The attorney general shall cancel the registration of any
organization which fails to comply with subdivision one, two, two-a or
three of this section within the time therein prescribed, or fails to
furnish such additional information as is requested by the attorney
general within the required time; except that the time may be extended
by the attorney general for a period not to exceed one hundred eighty
days. Notice of such cancellation shall be mailed to the registrant at
least twenty days before the effective date thereof.

6. Every charitable organization registered or required to register
pursuant to section one hundred seventy-two of this article shall keep
and maintain records, books and reports for at least three years after
the end of the period of registration to which they relate which shall
at all times be available for inspection, by the attorney general, or
any duly authorized representatives at the principal office of such
organization.

7. The attorney general may accept a copy of a current financial
report previously filed by a charitable organization with any other
governmental agency in compliance with the provisions of this article
provided that the report filed with such other governmental agency shall
be substantially similar in content to the financial report required by
this section.

8. Any financial report filed by any charitable organization required
to be registered but which has not previously registered pursuant to
this article or article eight of the estates, powers and trusts law must
be accompanied by all registration material required to be filed by this
article.

9. Any registered charitable organization that is required to file a
funding disclosure report pursuant to section one hundred seventy-two-e
of this article, and/or a financial disclosure report pursuant to
section one hundred seventy-two-f of this article for a reporting period
during the applicable fiscal year shall also be required to file such
annual financial report, including all required forms and attachments,
with the department of state.