The New York Non-Profit Revitalization Act of 2013, which became effective July 1, 2014, revises the financial oversight requirements nonprofits must adhere to if soliciting contributions in New York State. Massachusetts nonprofits who solicit in New York must be aware of these changes as the new law applies to all nonprofits, even those that are incorporated in other states. The new requirements make changes to annual attest requirements, corporate governance and related-party transactions. We’ve listed these requirements by category below and encourage you to contact Alfonso or Gino to schedule a discussion.
Learn more and read the full alert here.