The NJ State Bar Association supports S844/A4635, which revises financial reporting requirements for charitable organizations and excludes non-monetary in-kind donations from gross revenue for the purpose of reporting requirements.
This proposed legislation would increase the filing threshold for an audited statement while excluding in-kind contributions. This would be an appropriate lessening of the regulatory burden on not-for-profit companies, which often have limited staff and resources.
For the reasons set forth above, the NJ State Bar Association supports this bill and urges you to vote yes.