Extended Deadline for NY CHAR500 Due to Hurricane Disruptions
In response to the severe impact of recent hurricanes, the New York Attorney General’s Charities Bureau has issued an extension for the CHAR500 filing deadline. This decision provides much-needed relief to nonprofit organizations grappling with recovery efforts while managing regulatory requirements. Harbor Compliance is here to support nonprofits during these challenging times, ensuring a seamless adaptation to these changes.
What Is CHAR500 and Why Is It Important?
The CHAR500 is a mandatory annual financial report for charitable organizations registered in New York. It details an organization’s financial activities, governance practices, and meets with state regulations. Filing this report on time is essential for maintaining a nonprofit’s ability to raise funds in the state, fostering trust among donors, and ensuring transparency with the public.
The recent hurricanes caused significant damage, including power outages and loss of records, further complicating nonprofit operations. Acknowledging these difficulties, the Charities Bureau has extended the filing deadline to alleviate the pressure on affected organizations.
Details About the New Deadline
This extension applies to charities unable to meet the original CHAR500 deadline due to hurricane-related disruptions. By extending the timeline, the Bureau aims to allow organizations to prioritize recovery without additional regulatory stress. Key details include:
- Revised Deadline: While, ordinarily the reporting deadline for the CHAR500 filing falls on the 15th day of the fifth month following an organization’s fiscal year-end, the new, extended deadline is May 1, 2025.
- Eligibility: Nonprofits impacted by the hurricanes are eligible for this extension.
- Required Information: Organizations must submit a brief explanation detailing how the hurricanes affected their ability to file on time.
For similar reasons, the deadline had previously been extended to November 15, 2024, due to an earlier hurricane.
Steps to Utilize the Deadline Extension
To make use of the extended deadline, follow these steps:
- Evaluate Impact: Assess how the hurricanes disrupted your ability to meet the original deadline.
- Draft a Brief Explanation: Summarize the specific challenges your organization faced due to the hurricanes.
- Contact Us: The team of experts at Labyrinth, Inc., our nonprofit brand, can fully manage preparing and filing your CHAR500 or submitting an extension request.
Why Choose Harbor Compliance + Labyrinth, Inc.?
The extended CHAR500 deadline is a vital measure to support nonprofits affected by natural disasters. Our nonprofit brand, Labyrinth, Inc., offers the easiest way to achieve nonprofit compliance, allowing you to concentrate on your mission. Let us simplify the filing process and ensure your regulatory requirements are handled efficiently. For personalized assistance or to learn more, visit our website or contact us directly. Together, we’ll help your organization meet regulatory requirements, even during challenging times.
