All 501(c) organizations must make copies of their annual reports and exemption applications available for public inspection, and must provide copies upon request. Internal Revenue Code Section 6652 provides a variety of penalties for failure to meet these requirements.
Public Support Requirements
501(c)(3) public charities are supposed to receive at least one third of their support from the general public. For many organizations this is not a problem, but some organizations find themselves relying heavily on donations from founders or board members, or going back year after year to the same foundations or corporations for grants. The complicated rules for public charities may not count such support as "public" support. It pays to learn the public support rules and keep an eye on your one third support test, or to hire a professional to look this over from time to time.