Requires certain nonprofits that receive public funds to obey open meetings and public records laws; applies to nonprofits with gross annual revenue over $100,000 or more than 25 full-time or part-time employees, which receive 75% or more of their annual revenues or budget from public funds or nonprofit-specific tax breaks, and perform governmental functions under contract; applies to organizations that designate recipients of public funds or otherwise controls or influences such public expenditures; requires covered nonprofits to post their proposed annual budget on their website, and identify public funds proposed to be used; requires covered nonprofits to submit to and cooperate with an audit by the Secretary of State; requires the nonprofit's directors, officers, and employees to comply with government ethics standards; sets penalties for noncompliance, including clawback of public funds, a 10-year ban on receiving public funding, administrative dissolution of the nonprofit, and a 10-year bar on board members or officers serving on another board; allows the Secretary of State to provide certificates of exemption; applies provisions of the Act over a 15-year period, with required compliance during the period depending on the proportion of the budget or revenues of the nonprofit that comes from public funds; declares emergency; takes effective on passage.