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.