NH Charitable Trusts Unit
Nonprofit organizations serve a broad range of industries and are a vital part of New Hampshire by fostering civic engagement, driving economic growth, and encouraging public interests within our communities. The mission of the NH Charitable Trusts Unit is to protect the public’s interest in the organizations and assets committed to charitable purposes in New Hampshire. As a nonprofit organization registered with the NH Charitable Trusts Unit, there are annual filing requirements that are necessary in order to remain in good standing with the NH Charitable Trusts Unit.
Charitable organizations registered with the NH Charitable Trusts Unit, must file an annual report certificate with a copy of the entity’s IRS Form 990 of 990EZ. For organizations that do not meet the filing requirements of the 990 or 990EZ, Schedule A (Financial Report) must be filed with the Annual Report.
In addition to the reporting requirements noted above, organizations with gross annual revenues between $500,000 and $1 million are required to include the most recent annual financial statements completed in accordance with generally accepted accounting principles (GAAP). These financial statements can be prepared internally and do not require a report from an independent certified public accountant (CPA).
Organizations with total annual revenues of $1 million or greater must include audited financial statements completed in accordance with GAAP. Audited financial are required to be examined by an independent CPA and include a signed statement from the auditor.
Additional requirements may be applicable depending on the type of industry your nonprofit operates in and its specific activities so contact a tax professional if you have questions about your organization’s filing requirements.
When and How to File
Annual reports are due with the NH Charitable Trusts Unit 4 months and 15 days after the close of the organization’s fiscal year end.
Beginning in 2021, the NH Charitable Trusts Unit is accepting electronic filing of application for registration, annual report, and annual report extension requests. Forms and instructions are available on the NH Charitable Trusts Unit website.
Things to Consider
Understanding these filing requirements may require further considerations as your organization may have unique circumstances. Before deciding whether prepared financial statements are required, speak to your trusted tax advisors. As always, our CPAs at Mason + Rich are ready to answer any additional questions.
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