ORGANIZATIONS | Exemption from Financial Record and Reporting Requirements

The following are exempt from the record keeping and reporting requirements:

1. a corporation that solicits funds only from its members;
2. a corporation that receives no more than $10,000 in contributions during a fiscal year from any sources other than its own members;
3. certain private or independent educational institutions or foundations;
4. a religious institution that is a church, an ecclesiastical or denominational organization, or another established physical place for worship at which religious services are the primary activity and are regularly conducted;
5. a trade association or professional society whose principal sources of income are its membership dues and assessments, sales, or services;
6. an insurer licensed and regulated by the Texas Department of Insurance; or
7. an alumni association of a public or private institution of higher education in this state that is recognized and acknowledged as the official alumni association by the institution.