MD Charity Registration Automatic Renewal Due Date Extension
Maryland’s charity registration process has improved! MD now offers an automatic charity registration renewal extension. Charitable organizations no longer need to file a written request for an extension to the registration renewal due date. For example, a nonprofit with a fiscal year end of December 31 has a due date in MD of 6 months after the fiscal year end; so June 30. The new automatic extension will keep the nonprofit current through November 15. Saves time and paperwork all around – thank you, MD, great improvement! For more information visit http://sos.maryland.gov/Charity/Pages/Registering-Charity.aspx.
Warning – if you miss the automatic extended due date – plan on paying a $25 late fee per month or part of a month in addition to the state filing fee.
MD New Threshold for Financial Reviews and Audits
Effective October 1, 2016, organizations that receive at least $300,000 but less than $750,000 in charitable contributions must submit a financial review with their charity registration. Organizations that receive at least $750,000 in charitable contributions must submit an audit with their registration. The old levels were $200,000 for a financial review and $500,000 for an audit.
Way to go MD!
Maryland was the hometown of the Babe and the Raven: Baseball great Babe Ruth and Edgar Allen Poe lived there. Poe is also buried in Baltimore’s Westminster Cemetery.