§ 57-58 Ratio of fund-raising expenses to contributions to be included in registration statement
Each charitable organization shall, as a part of its registration statement, compute the percentage that its fund-raising expenses for its preceding fiscal year bore to its support received directly from the public during such year. Each federated fund-raising organization shall clearly disclose on any registration the percentage that is withheld from a donation designated for a member agency.
History
This law was first created in 1974. The record of its establishment is cataloged in chapter 574 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1974 “Acts” aren’t available online. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2003, chapter 810.
1974, c. 574; 2003, c. 810.