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What is included in “gross revenue” for the purpose of determining whether a charity must prepare audited financial statements under Government Code section 12586(e)?

April 26, 2017audited charity determining financial statements gross revenue included prepare purpose

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What is included in “gross revenue” for the purpose of determining whether a charity must prepare audited financial statements under Government Code section 12586(e)?

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“Gross revenue” under that section is the same as “total revenue,” which currently appears on Line 12 of IRS Form 990 for public charities and Line 12, column (a) for private foundations. Follow instructions for IRS Form 990 and 990PF, Part I, Line 12.