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Auditing/non-profit issue

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Expert: Don Sadler - 12/21/2007


Question
Hi:

Not sure if you can answer this question but I will try anyway.  Do Non-Profit organizations have to disclose their financial papers to anyone who requests to see them?  I belong to a Non-Profit agency in Connecticut and before I ask to se their financial info, I want to be sure of my rights.

Thanks,

Paul


Answer
Paul,

I don't know much about nonprofits however, I will offer the following for your consideration.  It is possible for an organization to be a nonprofit (a legal entity... analogous to a corporation or partnership) without being an IRS 501(c)(3) organization.  If it is a 501(c)(3), the organization must follow certain rules for disclosure.  You can find more information at

http://www.irs.gov/charities/article/0,,id=96430,00.html

  And

http://www.muridae.com/publicaccess/

For general financial management and disclosure for nonprofits, please see:

http://www.managementhelp.org/finance/np_fnce/np_fnce.htm

http://www.1800net.com/nprc/index.html

I believe (but am not certain) that individual states have individual requirements.  Here are two states that address this and you can Google others:

http://www.vscpa.com/Visitors/Nonprofit_Resources/Nonprofit_Resource_Guide.aspx#...

http://www.floridacdc.org/forms/disclosure.html

If you rate me on this response, please remember that this is not an area of my expertise but, rather, a good faith attempt to provide you with some help and resources.

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Don Sadler

Expertise

I can answer regarding Internal Auditing - especially operational audits, audit management, and how to revitalize a dysfunctional audit department. Also give advice to "auditees" on how to deal with auditors.

I DO NOT ANSWER HOMEWORK OR CLASS PROJECT QUESTIONS. For those answers, I suggest you scan previously asked questions and search on your favorite search engine.

I ALSO DO NOT ANSWER TAX QUESTIONS AS THIS IS NOT WITHIN MY EXPERTISE. NOTE: I am not an accounting expert although i will try to help if I can... ask at your own risk.

Experience

I have worked in the public and private business management arena with experience in OMB, Resource Management, Internal Auditing and consulting. I am a former President of the Inland Empire Chapter Institute of Internal Auditors, previously held Director positions in the Orange County Information Systems Audit and Control Association and the Northern Telecom International User's Association. I am a Certified Fraud Examiner and a Certified Information Systems Auditor.

Organizations
Institute of Internal Auditors, Association of Certified Fraud Examiners, and Information Systems Audit and Control Association (ISACA)

Education/Credentials
MBA, CISA, CFE

Founder and Principal of Applied INTEGRITY Management Consulting Group

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