Section 519. Annual report of directors

(a) The board shall present at the annual meeting of members a report,
  verified  by  the  president  and  treasurer  or  by  a  majority of the
  directors, or certified by an independent  public  or  certified  public
  accountant  or a firm of such accountants selected by the board, showing
  in appropriate detail the following:
    (1) The assets and liabilities, including  the  trust  funds,  of  the
  corporation  as  of  the end of a twelve month fiscal period terminating
  not more than six months prior to said meeting.
    (2) The principal changes in assets and liabilities,  including  trust
  funds, during said fiscal period.
    (3)  The revenue or receipts of the corporation, both unrestricted and
  restricted to particular purposes during said fiscal period.
    (4) The expenses or disbursements of the corporation, for both general
  and restricted purposes, during said fiscal period.
    (5) The number of members of the corporation as of  the  date  of  the
  report, together with a statement of increase or decrease in such number
  during  said fiscal period, and a statement of the place where the names
  and places of residence of the current members may be found.
    (b) The annual report of directors shall be filed with the records  of
  the  corporation and either a copy or an abstract thereof entered in the
  minutes of the proceedings of the annual meeting of members.
    (c) The board of a corporation having  no  members  shall  direct  the
  president  and treasurer to present at the annual meeting of the board a
  report in accordance with paragraph (a), but omitting the requirement of
  subparagraph (5). This report shall be filed with  the  minutes  of  the
  annual meeting of the board.