Section 57-22-8 - Disclosure of fundraising costs.
57-22-8. Disclosure of fundraising costs.
A. All charitable organizations subject to the Charitable Solicitations Act [Chapter 57, Article 22 NMSA 1978] shall disclose upon request the percentage of the funds solicited that are spent on the costs of fundraising. For purposes of this section, costs of fundraising shall include all money directly expended on fundraising and that portion of all administrative expenses and salaries of the charitable organization attributable to fundraising activities.
B. Whenever a solicitation on behalf of a charitable organization subject to the Charitable Solicitations Act is undertaken by a professional fundraiser, the professional fundraiser shall disclose that fact to prospective contributors.