New Jersey requires that charitable organizations having connections with New Jersey, including private foundations, file registration statements with the Attorney General on an annual basis, subject to certain exceptions. This requirement is in addition to the requirement (imposed on New Jersey private foundations formed as Nonprofit corporations) to file annual reports with the New Jersey Department of Treasury.
Most private foundations need only file the "short form" registration statement (i.e. Form CRI-200), since their gross contributions during a fiscal year are usually less than $25,000 and their activities are carried out by trustees, officers or uncompensated persons. For this purpose, "gross contributions" only include contributions made in response to solicitations. Therefore, contributions made by a foundation's founder would not count toward the $25,000 short form qualification limit.
If a private foundation has more than $25,000 of gross contributions in a fiscal year, it is required to file a "long form" registration statement (i.e. Form CRI-150/Form CRI-300). If a "long form" registration filer has more than $100,000 in annual gross revenue, it is also required to include audited financial statements with its filing. This requirement to include audited financial statements does not, however, apply to a private foundation that qualifies as a "short form" filer, regardless of the amount of its annual gross revenue.
Registration statements generally must be filed within six months of the close of a private foundation's fiscal year. For example, if your private foundation has a fiscal year that ends on December 31, the registration statement should be filed on or before June 30 of the following year. It is a good idea to complete the annual registration statement when completing your private foundation's Form 990-PF since both "long form" and "short form" registration statements require that copies of the foundation's Form 990-PF be included as part of the filing. This concurrent preparation will also help ensure that the filing of the registration statement is not inadvertently forgotten.
