Louis E. Michelson, A Professional Corporation

Providing Legal and Tax Advisory Services to Nonprofit Organizations

Entries Tagged as 'gross revenue'

Audit Committees of Nonprofit Organizations

October 16th, 2009 · Comments Off on Audit Committees of Nonprofit Organizations · Charity, Governance

Charities with gross revenue of $2 million or more must now establish an audit committee. This only applies to charitable corporations that must register and file reports with the Attorney General, whenever such organizations accrue the $2 million of revenue in any fiscal year, with certain grants from government entities excluded from the revenue threshold. […]

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