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Author Topic: Financial Records  (Read 4740 times)
namaste
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« on: April 02, 2007, 10:14:19 am »

Several mentioned difficulty at obtaining financial records, etc. from their local churches.  If their church is a 501(c)(3) nonprofit, then they are subject to certain disclosure laws:

from findlaw:

Quote
QUESTION:

I work for a 501(c)(3) nonprofit corporation. Are its financial statements available for public viewing -- especially regarding management salaries?

ANSWER:

Indeed. Nonprofits are required to submit their financial statements and other information -- including the salaries of directors, officers, and key employees -- to the IRS. (For information on who is considered a key employee, see IRS Form 990 and its instructions.)

The IRS and nonprofits themselves are required to disclose the information on Form 990 to anyone who asks. Nonprofits must allow public inspection of these records during regular business hours at their principal offices. However, many people won't even need to ask -- a number of websites make Forms 990 available for the searching, including the Foundation Center at http://foundationcenter.org/ and GuideStar at http://www.guidestar.org.

In addition, people can request information from the IRS by writing a letter, including the name of the organization, the year, and the type of tax return requested, and send it to:

Commissioner of Internal Revenue
Attn: Freedom of Information Reading Room
1111 Constitution Avenue, NW
Washington, DC 20224


Other information may also be required for disclosure, including (under certain circumstances) organizational bylaws (or code of regulations).

See the full listing of what may be disclosed by law:
http://www.irs.gov/pub/irs-tege/eotopico00.pdf
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Om, shanti.
MamaD
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« Reply #1 on: April 02, 2007, 10:22:54 am »

You can view copies of Form 990s (the non profit IRS financial statement) at www.guidestar.org

However, churches are not required to show certain information that other non-profits are required to show.

I think that the constitution and bylaws of non-profits are public records, but have no idea where you would go to get them.
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namaste
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« Reply #2 on: April 02, 2007, 10:25:20 am »

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I think that the constitution and bylaws of non-profits are public records, but have no idea where you would go to get them.


Based on my cursory review of the regs, it appears that the bylaws, etc. are public record *if* they were filed as part of the application for nonprofit status.
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Om, shanti.
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