Foreign Funding Transparency Act

The Foreign Funding Transparency Act requires certain large tax-exempt organizations to publicly report the total amount of money they receive from foreign nationals. Specifically, organizations with annual gross receipts of at least $200,000 or assets of at least $500,000 must disclose these contributions on their annual tax returns. The report must break down the funds by the specific foreign country of the donor, based on the donor's citizenship or the country where the donor was created or organized. This reporting obligation applies to returns filed for taxable years beginning one year after the law is enacted.