H-2808.1 _______________________________________________
HOUSE BILL 2366
_______________________________________________
State of Washington 53rd Legislature 1994 Regular Session
By Representatives Foreman, J. Kohl, Casada, Appelwick, Rust, Mastin, Stevens, Sehlin, Chappell, Long, Brough, Wood, Silver and Dyer
Read first time 01/14/94. Referred to Committee on Judiciary.
AN ACT Relating to nonprofit corporations; adding new sections to chapter 24.03 RCW; and creating a new section.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. The legislature declares that it is a privilege to be allowed to do business in Washington as a nonprofit corporation. The public has a right to know certain financial information concerning the operation of large nonprofit corporations and nonprofit corporations which receive significant moneys from governmental entities.
NEW SECTION. Sec. 2. A new section is added to chapter 24.03 RCW to read as follows:
Any nonprofit corporation with an annual gross income of one million dollars or more shall report the following information annually to the department of revenue on a form provided by the department:
(1) Total annual income;
(2) Total annual expenses;
(3) Total annual fundraising expenses;
(4) The total amount of salaries paid to the ten highest paid employees over the past year;
(5) The total value of noncash benefits paid to the ten highest paid employees over the past year; and
(6) The total value of personal service contracts paid to the ten highest paid recipients of such contracts over the past year.
NEW SECTION. Sec. 3. A new section is added to chapter 24.03 RCW to read as follows:
Any nonprofit corporation which receives one hundred thousand dollars or more annual gross income from the state or any of its subdivisions shall report the following information annually to the department of revenue on a form provided by the department:
(1) Total annual income;
(2) Total annual expenses;
(3) Total annual fundraising expenses;
(4) The total amount of salaries paid to the ten highest paid employees over the past year;
(5) The total value of noncash benefits paid to the ten highest paid employees over the past year; and
(6) The total value of personal service contracts paid to the ten highest paid recipients of such contracts over the past year.
NEW SECTION. Sec. 4. A new section is added to chapter 24.03 RCW to read as follows:
Any nonprofit corporation which has filed information required under chapter 19.09 RCW may use a copy of the information provided under that chapter to meet a portion of the reporting requirements of this chapter.
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