5000 Charities face red mark for failed reporting
Over 5,000 registered charities face a red mark after failing to submit reporting in a timely manner to the Australian Charities and Not-for-profits Commission (ACNC).
The due date for organisations with standard financial year (1st July – 30th June) was the 31st of January 2015, meaning that by the end of the month, some charities will be 6 months overdue. These charities will receive an indication of this on their Annual Information Statement for 2014.
ACNC Commissioner, Susan Pascoe AM, said that the ACNC had a duty to the public to make it clear when charities were not doing the right thing.
“The ‘red-mark’ for those charities that are six months overdue in their reporting helps the public identify charities that are not meeting their obligations. This may influence decisions regarding donating and volunteering.”
Ms Pascoe stated that charities who continued with non-compliance could face harsher penalties, including revocation.
“The ACNC recently revoked status of over 5 500 charities that had not completed both their 2013 and 2014 Annual Information Statements, which means they can no longer access Commonwealth charity tax concessions.”
“If your charity needs assistance submitting its Annual Information Statement, contact our friendly staff on 13 ACNC.”