Tennessee Charity Registration Update: Reduction in Fees!

Great news from the great state of Tennessee regarding charity registration!  Effective July 1, 2014 charity registration fees for renewing organizations have been reduced by 20%.  You may recall that TN bases its fees on a nonprofit’s gross revenues and has a sliding fee schedule.  The old fee schedule started at $100 per year and capped at $300.  Now, for organizations with gross revenues of under $48,999 the new fee is $80 per year….and so on….. with a cap of $240 for organizations with gross revenues of $500,000 or more.  Thank you TN 🙂

In other TN news organizations that do not raise more than $30,000 annually may still apply for an exemption.  This was true under the old legislation, too.  However, also effective July 1st, the exemption changes from a one-time submission to an annual requirement.  This is not such good news….one more due date for small nonprofits to track 🙁

For more information visit the TN Secretary of State website at http://www.state.tn.us/sos/charity/index.htm.