Guidance on SB 1262.

• Position: Legislative News - Nonprofit Integrity Act of 2004 - Brief Article

The Nonprofit Integrity Act of 2004, known as SB 1262, applies new requirements on the conduct of charities, commercial fund-raisers, fund-raising counsels, unincorporated associations and trusts.

Audits will be required for those entities with $2 million or more in gross revenue for fiscal years ending June 30, 2005 and thereafter. Grant or contract income from the government is not included in the charity's gross revenue as long as the government entity requires an accounting of those funds. All other...