In addition to annual information returns, nonprofit organizations are required to disclose information about their operations. The reason behind these requirements is to ensure that each nonprofit organization is acting in a transparent manner. Those items that are subject to disclosure requirements include the following:
- Substantiation of charitable gifts
- Quid pro quo contributions (i.e., where a donor pays an amount in excess of the value of goods or services received by the nonprofit entity)
- Gifts of property
- Dispositions of contributed property
- Appraisals
- Tax shelters