[§467B-6.5]  Annual financial
reports; fiscal records and fees.  (a)  Every charitable organization
required to register pursuant to section 467B-2.1 shall annually file with the
department a report for its most recently completed fiscal year.  The report
shall include a financial statement and other information as the department may
require.  The charitable organization shall file the report not more than eight
months following the close of its fiscal year on or before the date the
organization files a Form 990 or 990EZ with the Internal Revenue Service.  The
report shall be accompanied by a filing fee as prescribed by subsection (d) and
shall be signed by two authorized officers of the organization, one of whom
shall be the chief fiscal officer of the organization.  These officers shall
certify that the report is true and correct to the best of their knowledge. 
The department shall prescribe the form of the report and shall prescribe
standards for its completion.  The department shall accept, under such conditions
as the attorney general may prescribe, a copy or duplicate original of
financial statements, reports, or returns filed by the charitable organization
with the Internal Revenue Service or another state having requirements similar
to the provisions of this section; provided that the attorney general may
prescribe the form of the annual financial report for charitable organizations
that file the Form 990N with the Internal Revenue Service.



(b)  A charitable organization with gross
revenue in excess of $500,000 in the year covered by the report shall include
with its annual financial report, an audit report prepared by a certified
public accountant; provided that any charitable organization shall include with
its annual financial report an audit report prepared by a certified public
accountant as a result of a requirement imposed by a governmental authority or
a third party.  For purpose of this subsection, "gross revenue" does
not include grants or fees from government agencies or revenue derived from
funds held in trust for the benefit of the organization.



(c)  The department, upon written request and
for good cause shown, may grant an extension of time, not to exceed three
months, for the filing of the report.



(d)  Each charitable organization filing a
report required by this section shall pay a filing fee to the department, based
on the total amount of its income and receipts during the time covered by the
report at the close of the calendar or fiscal year adopted by the charitable
organization as follows:



(1)  $10, if less than $25,000;



(2)  $25, if $25,000 but less than $50,000;



(3)  $50, if $50,000 but less than $100,000;



(4)  $100, if $100,000 but less than $250,000;



(5)  $150, if $250,000 but less than $500,000;



(6)  $200, if $500,000 but less than $1,000,000;



(7)  $300, if $1,000,000 but less than $2,000,000;



(8)  $500, if $2,000,000 but less than $5,000,000; or



(9)  $750, if $5,000,000 or more.



(e)  If a return or report required under this
section is not filed, taking into account any extension of time for filing,
unless it is shown that the failure is due to reasonable cause, a fine of $20
shall be imposed for each day during which the violation continues; provided
that the total amount imposed under this subsection shall not exceed $1,000. 
Returns and reports submitted without the proper filing fee shall not be
accepted for filing.



(f)  Every charitable organization subject to [section]
467B-2.1 and [this section] shall keep true fiscal records that shall be
available to the department for inspection upon request.  The organization
shall retain the records for no less than three years after the end of the
fiscal year to which they relate. [L 2008, c 174, pt of §2]



 



Note



 



  L 2008, c 174, §13(2) provides:



  "(2)  Any charitable organization required to register
under



this Act shall file the annual financial report with



the attorney general as provided in section



[467B-6.5(a)], Hawaii Revised Statutes, no later



than eight months following the close of its 2008



taxable year, together with the fees prescribed by



section [467B-6.5(d)], Hawaii Revised Statutes."