The New Jersey State Bar Association supports A4635 (Zwicker)/S844 (Pou), 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 New Jersey State Bar Association supports A4635/S844 and urges you to vote yes on this bill.