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Blogging Beyond the Numbers

Important Changes to Non-Profit 1952, 308 and 1943 Returns
Posted by: Mike Hablewitz 12 months ago

Great news for 501(c)(3) exempt organizations that solicit contributions in Wisconsin.

Governor Walker signed Assembly Bill 778 (Act 163) into law in February and changes have now been implemented by the Wisconsin Department of Financial Institutions (DFI).

The following changes are effective immediately for all applicable organizations:

  • Annual threshold at which a charitable organization must obtain a review report from an independent CPA increased from $200,000 to $300,000 in total contribution revenue.
  • Annual threshold at which a charitable organization must obtain an audit report from an independent CPA from $400,000 to $500,000 in total contribution revenue.
  • The deadline to file the annual charitable solicitation return (Form 1952, 308 or 1943) changed from 9 months to 12 months following the organization’s year-end.   For example, an organization with a calendar year 12/31/2015 year-end now has until 12/31/2016 to file their annual Wisconsin charitable solicitation return with DFI.
  • Two signatures are still required on the return but signatures no longer have to be notarized.
  • Donated food is now excluded from contribution revenue for the purpose of determining whether an audit or review report is required.
  • For 501(c)(3) exempt organizations that solicit contributions in Wisconsin, the threshold at which a charitable organization must register with DFI increased from $5,000 to $25,000 in total annual contribution revenue.

Please contact us if you have any questions about how these changes affect your organization.

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