N.Y. Comp. Codes R. & Regs. tit. 9 § 431.2

Current through Register Vol. 46, No. 25, June 18, 2024

Section 431.2 - Not-for-profit corporation requirements

A not-for-profit corporation must demonstrate to the satisfaction of the office that it is capable of operating and maintaining the completed project for the benefit of the public. The following documents will be required to verify a corporation's not-for-profit, tax-exempt status and provide evidence of such capability:

(a) a copy of the corporation's certificate of incorporation, by-laws, amendments and other operative organizational documents;

(b) a copy of a determination letter from the United States Internal Revenue Service verifying the corporation's tax-exempt status;

(c) verification of charities registration;

(d) financial statements, for the corporation's previous three fiscal years, audited when available, showing all expenditures and sources of income; and

(e) copies of IRS form 990 for the last complete fiscal year.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 431.2