In the new Louisville Business First Legal Forum Column, BGD attorney Bailey Roese discussed public disclosure requirements for tax-exempt organizations. Read her advice below and don’t miss our monthly Legal Forum Column in Louisville Business First!
In general, what public disclosure requirements apply to tax-exempt organizations?
Organizations exempt from taxation under Section 501(c)(3) of the tax code must make their Form 1023 application for exemption and their three most recent Form 990 tax returns (with donor personal information redacted) available for public inspection without charge at their principal place of business, and any regional offices with more than three employees, during regular business hours. These organizations must also provide copies of these documents to individuals who request them.
Copies must generally be provided immediately in the case of in-person requests and within 30 days in the case of written requests. However, the organization is not required to provide copies if the documents are made “widely available,” such as online. The IRS is also required to make this information publicly available. Your attorney can help you complete or request a copy of the exemption application (including all supporting documents).