§ 172-b. Reports by registered charitable organizations; registration\nto be cancelled for failure to file. 1. Every charitable organization\nregistered or required to be registered pursuant to section one hundred\nseventy-two of this article which shall receive in any fiscal year gross\nrevenue and support in excess of one million dollars shall file with the\nattorney general an annual written financial report, on forms prescribed\nby the attorney general, on or before the fifteenth day of the fifth\ncalendar month after the close of such fiscal year. The annual financial\nreport shall be accompanied by an annual financial statement which\nincludes an independent certified public accountant's audit report\ncontaining an opinion that the financial statements are presented fairly\nin all material respects and in conformity with generally accepted\naccounting principles, including compliance with all pronouncements of\nthe financial accounting standards board and the American Institute of\nCertified Public Accountants that establish accounting principles\nrelevant to not-for-profit organizations. Such financial report shall\ninclude a statement of any changes in the information required to be\ncontained in the registration form filed on behalf of such organization.\nThe financial report shall be signed by the president or other\nauthorized officer and the chief fiscal officer of the organization who\nshall certify under penalties for perjury that the statements therein\nare true and correct to the best of their knowledge, and shall be\naccompanied by an opinion signed by an independent public accountant\nthat the financial statement and balance sheet therein present fairly\nthe financial operations and position of the organization. A fee of\ntwenty-five dollars payable to the attorney general shall accompany such\nfinancial report at the time of filing, provided however, that any such\norganization that is registered with the attorney general pursuant to\narticle eight of the estates, powers and trusts law is required to file\nonly one annual financial report which meets the filing requirements of\nthis article and section 8-1.4 of the estates, powers and trusts law.\n 2. Every charitable organization registered or required to be\nregistered pursuant to section one hundred seventy-two of this article\nwhich shall receive in gross revenue and support in any fiscal year at\nleast two hundred fifty thousand dollars but not more than one million\ndollars shall file an annual financial report. The annual financial\nreport shall be accompanied by an annual financial statement which\nincludes an independent certified public accountant's review report in\naccordance with "statements on standards for accounting and review\nservices" issued by the American Institute of Certified Public\nAccountants. The annual financial statement shall be prepared in\nconformity with generally accepted accounting principles, including\ncompliance with all pronouncements of the financial accounting standards\nboard and the American Institute of Certified Public Accountants that\nestablish accounting principles relevant to not-for-profit\norganizations. Such financial report shall be filed with the attorney\ngeneral, upon forms prescribed by the attorney general on an annual\nbasis on or before the fifteenth day of the fifth calendar month after\nthe close of such fiscal year, which shall include a financial report\ncovering such fiscal year in accordance with such requirements as the\nattorney general may prescribe. Such financial report shall include a\nstatement of any changes in the information required to be contained in\nthe registration form filed on behalf of such organization. The\nfinancial report shall be signed by the president or other authorized\nofficer and the chief fiscal officer of the organization who shall\ncertify under penalties for perjury that the statements therein are true\nand correct to the best of their knowledge. A fee of twe
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