407.469. Disclosure of fund-raising costs and use of professional fund-raiser. - Missouri Statutes

Disclosure of fund-raising costs and use of professional fund-raiser.

407.469. 1. All charitable organizations required to submit an annualreport under section 407.462 shall, upon request, disclose the percentage ofthe funds solicited which were spent on the costs of fund raising in the lasttwelve-month period for which an annual report was filed under section407.462. For purposes of this section, costs of fund raising shall includeall money directly expended on fund raising and that portion of alladministrative expenses and salaries of the charitable organizationattributable to fund-raising activities. Any person who markets or collectsfunds on behalf of a charitable organization shall state on all literaturesoliciting such funds that a portion of the funds contributed are used formarketing expenses and paid to persons for marketing the charitableorganization, if any such funds are so used.

2. Whenever a solicitation of funds on behalf of a charitableorganization is undertaken by a professional fund-raiser, the professionalfund-raiser shall disclose that fact to prospective contributors.

(L. 1986 S.B. 685, A.L. 1994 H.B. 1095)