On April 26, 2012, Governor John Hickenlooper signed House Bill 12-1236 into law. Effective January 2013, this new law eliminates the need for a nonprofit who filed for the first extension on IRS Form 990 to also file for the first three month extension on reporting under the Colorado Charitable Solicitations Act (CCSA). Many nonprofits currently have to apply for the first three month extensions on both their Form 990 and CCSA reports because financial information needed for their Form 990 is not ready.
“HB 12-1236 is a win-win for nonprofits and the state of Colorado. It will make it easier for nonprofits to meet their filing deadlines and will reduce the number of extension requests that the Secretary of State has to process,” said Mark Turner, Manager of Public Policy at Colorado Nonprofit Association.
The law makes additional changes to clarify specific CCSA reporting exemptions and disclosure requirements as follows:
The bill was sponsored by Rep. Ken Summers (R- Lakewood), Rep. Chris Holbert (R- Parker), Rep. Rhonda Fields (D- Aurora), Rep. Andy Kerr (D- Lakewood), Rep. Jeanne Labuda (D- Denver), Rep. Dave Young (D- Greeley), as well as Sen. Cheri Jahn (D- Wheat Ridge), Sen. Betty Boyd (D- Lakewood), and Sen. Linda Newell (D- Littleton).
Contact Mark at (303) 832-5710 or firstname.lastname@example.org for more information on how this change will affect your nonprofit organization.