March 4, 2004
California Regulator Proposes Charity Rules
California Attorney General Bill Lockyer has asked the state's Legislature to pass several new laws to strengthen the state's oversight of nonprofit groups and commercial fund raisers.
The proposals would require nonprofit organizations with annual revenue of $500,000 or more to prepare financial statements every year, audited by an independent certified public accountant, that would have to be made available to the public. In addition, an organization's board would have to set up an
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