(a) To be eligible to participate in the state employee
charitable campaign, if the charitable organization's budget:
  (1) is equal to or less than $250,000, the organization
shall provide a completed Internal Revenue Service (IRS) Form 990
and an accountant's review that offers full and open disclosure of
the organization's internal operations; or
  (2) is greater than $250,000, the organization shall
be audited annually in accordance with generally accepted auditing
standards of the American Institute of Certified Public Accountants.
A copy of the report of such audit shall be provided with the application
along with a completed Internal Revenue Service (IRS) Form 990.