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(1)
(a) Except as provided in Subsection (1)(c), as part of a charitable organization's application for registration or renewal of registration described in Section 13-22-6, each charitable organization shall file:
(i) an annual financial report on a form prescribed by the division;
(ii) an IRS Form 990, 990EZ, 990N, or 990PF; or
(iii) both the documents described in Subsections (1)(a)(i) and (ii).
(b) The division shall instruct each applicant for registration or renewal of registration as a charitable organization on which documents to file under Subsection (1)(a).
(c) If a document required under Subsections (1)(a) and (b) is not available during the charitable organization's first year of registration, upon request from the division, the charitable organization shall provide a quarterly financial report to the division within 30 days after the day on which the division requests the quarterly financial report.
(2) Each annual or quarterly financial report shall disclose:
(a) the gross amount of contributions received;
(b) the amount of contributions disbursed or to be disbursed to each charitable organization or charitable purpose represented;
(c) aggregate amounts paid to any professional fund raiser;
(d) amounts spent for overhead, expenses, commissions, and similar purposes; and
(e) unless disclosed in another part of the charitable organization's application for registration or renewal of registration, the name and address of any professional fund raiser used by the charitable organization.
(3) Each report required under this section shall be signed under oath by an officer or principal of the charitable organization.
(4)
(a) If a charitable organization fails to timely file a quarterly financial report in accordance with Subsection (1)(c), the charitable organization's registration is immediately and automatically suspended pending a final order of the division under Section 13-22-12.
(b) The division may reinstate the charitable organization's registration after the division receives:
(i) the quarterly financial report requested in accordance with Subsection (1)(c); and
(ii) a penalty of $25 for each full or partial calendar month after the day on which the quarterly report was due.