Chapter Finances
WHAT’S TO BE DONE & WHEN?
The big three are, of course,
- maintaining your corporate identity as a non-profit corporation with your state or province,
- filing (if required, Canadian treasurers) a form 990 or your CRA with your appropriate agency, and
- completing a financial review.
BHS requires all three be reported to them in the Member Center and the file should also be uploaded there. (No, I don’t need them, but if you want me to view them I don’t mind.)
You may also see occasional changes to BHS information. If you need something we are not providing, contact the Evergreen treasurer.
If you need help, email Larry Breibarth, finance@evgdistrict.com or call him at 206-465-8156.
Chapter Treasurer Links at BHS:
JANUARY
Did your chapter pay any independent contractor $600 or more? Then you need to issue a 1099-NEC and send a copy to the person you paid (director, for example), a copy for your files, and a copy for the IRS with the cover sheet form 1096.
You can get these forms from the IRS. You are not allowed to download and print that form. There is a color issue. Go to www.IRS.gov/orderforms, click on Employer and Information Returns and order the two forms. Keep scrolling. Make sure you ask for 1099-NEC AND 1096.
When done selecting scroll to the bottom of the page to finish the ordering (no cost). I always order 2 of each form in case I make a mistake. They will mail you the forms.
If you need help, email finance@evgdistrict.com
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MAJOR TASKS TO STAY ON TOP OF DURING THE YEAR
January
For US Chapters, IRS 1099-NEC Forms (possibly 1099-MISC Forms) are due to anyone your chapter pays (or reimburses) $600 or more to by January 31.
For Canadian Chapters, submit any required forms the CRA or your province requires
When asked, submit financial records to the Annual Financial Review Committee.
February
For Canadian Chapters, submit any required forms the CRA or your province requires
May
File IRS or CRA required forms by May 15th. Provide copy to President and Secretary.
Review with the President the Annual Financial Review.
November
Assist the incoming Treasurer in transition to office.
Incoming Treasurer should attend Leadership Academy officer training, if offered.
Evergreen District Treasurer
Larry Breibarth
finance@evgdistrict.com
Form 990-N filers
use a new sign-in process
Since August 2022, smaller charities that are eligible and choose to file Form 990-N, Electronic Notice for Tax-Exempt Organizations (e-Postcard), must sign into the IRS modernized authentication platform using either their active IRS username or create an account with ID.me, the current IRS credential service provider.
When accessing the Form 990-N submission page, Form 990-N filers have three options:
- Sign in with their active IRS username: Users with an active IRS username have the option to access the Form 990-N submission page using their existing IRS credentials or they can choose to create a new account with ID.me.
- Sign in with their existing ID.me account: Users that have an ID.me account to access other IRS online services or from a state or federal agency can sign in using their existing ID.me account.
- Create a new ID.me account: Users that don’t have an active IRS username credential must register and sign in with ID.me.
ID.me account creation requires an email address and multifactor authentication. Form 990-N filers who have an existing IRS username and register for an ID.me account must use the same email address.
For Form 990-N filing instructions, see Publication 5248, Form 990-N Electronic Filing System User Guide (PDF).
The filing process has not changed for organizations that file Form 990, Return of Organization Exempt from Income Tax, or Form 990-EZ, Short Form Return of Organization Exempt From Income Tax.
Free Online Training for Small to Mid-Sized Section 501(c)(3) Charities
The IRS provides interactive online training to help officers, board members and volunteers maintain your organization’s Section 501(c)(3) tax-exempt status – including a course on filing Form 990-series annual returns. The Virtual Small to Mid-Sized Tax-Exempt Workshop at StayExempt.irs.gov is an important resource for all charities, old and new.
