(1) REGISTRATION REQUIREMENT.
(a) Except as provided in sub. (5), no charitable organization may solicit in this state or have contributions solicited in this state on its behalf unless it is registered with the department under this subsection.
(b) Applicants for a charitable organization registration shall apply to the department, in the form and manner prescribed by the department. Each application that is not a renewal application shall be accompanied by any information required by the department, including all of the following: 1m. The registration fee determined by the department under s. 202.041. 2g. A reviewed financial statement for the most recently completed fiscal year of the charitable organization, if the charitable organization received contributions in excess of $500,000, subject to adjustment under sub. (8), but not more than $1,000,000, subject to adjustment under sub. (8), during its most recently completed fiscal year. The statement shall be prepared in accordance with generally accepted accounting principles and include a review of the financial statement by an independent certified public accountant. 2r. An audited financial statement for the most recently completed fiscal year of the charitable organization, if the charitable organization received contributions in excess of $1,000,000, subject to adjustment under sub. (8), during its most recently completed fiscal year. The statement shall be prepared in accordance with generally accepted accounting principles and include the opinion of an independent certified public accountant on the financial statement.
(e) All charitable organization registrations expire on July 31 of each year.
(3) ANNUAL REPORT.
(a) A charitable organization registered under sub.
(1) shall file with the department an annual report for the charitable organization’s most recently completed fiscal year. The department shall prescribe the form of the report and shall prescribe standards for its completion. The annual report shall be filed within 12 months after the end of that fiscal year.
(b) In addition to the annual report required under par. (a), if a charitable organization received contributions in excess of $1,000,000, subject to adjustment under sub. (8), during its most recently completed fiscal year, the charitable organization shall file with the department an audited financial statement for the charitable organization’s most recently completed fiscal year, prepared in accordance with generally accepted accounting principles, and the opinion of an independent certified public accountant on the financial statement. The audited financial statement shall be filed within 12 months after the end of that fiscal year.
(bm) In addition to the annual report required under par. (a), if a charitable organization received contributions in excess of $500,000, subject to adjustment under sub. (8), but not more than $1,000,000, subject to adjustment under sub. (8), during its most recently completed fiscal year, the charitable organization shall file with the department a financial statement for the charitable organization’s most recently completed fiscal year, prepared in accordance with generally accepted accounting principles, and a review of the financial statement by an independent certified public accountant. The financial statement shall be filed within 12 months after the end of that fiscal year.
(d) A charitable organization may apply to the department for a waiver of the requirement set forth in par.
(b) or (bm). The waiver application shall be in writing, be received by the department within 90 days after the charitable organization’s fiscal year-end, and include documentation to support all of the following: 1. The charitable organization’s contributions were, during each of the past 3 fiscal years, less than $300,000, subject to adjustment under sub. (8). 2. During the fiscal year for which the waiver is being requested, the charitable organization received one or more contributions from one contributor that exceeded $200,000, subject to adjustment under sub. (8), if the charitable organization is applying for a waiver of the requirement set forth in par. (bm), or exceeded $700,000, subject to adjustment under sub. (8), if the charitable organization is applying for a waiver of the requirement set forth in par. (b).
(5) EXEMPTIONS FROM REGISTRATION.
(a) The following are not required to register under sub. (1): 1. A person that is exempt from filing a federal annual information return under section 6033 (a)
(3) (A)
(i) and (iii) and (C)
(i) of the Internal Revenue Code. 2. A candidate for national, state, or local office or a political party or other committee or group required to file financial information with the federal elections commission or with the ethics commission.