One of the most important functions that your club does every year is to file a Form 990 with the IRS. EVERY club must file based on the gross revenues raised by the club. If you do not file this form your club will lose it’s 501 (c)3 status as a charity and will not legally be able to raise revenue. Here are the requirements on what and who must file each type of form.
- Clubs with gross revenues raised in excess of $200,000 must file a form 990
- Clubs with gross revenues raised in between $50,000 and $200,000 must file a form 990-EZ
- Clubs with gross revenues raised under $50,000 must file a form 990-N
Your club’s respective form must be FILED BY NOV. 15, which is the 15th of the month of the 5th month past the end of our fiscal year. (If you have an extenuating circumstance, you may request an extension from the IRS – form 8868.) You may not extend the form 990-N, which is a postcard, there is no penalty, the IRS will send a reminder to file. The good news, ALL the information and forms are available on the Sertoma web site,( http://www.sertoma.org ) plus a 5 page downloadable instruction sheet on how to fill it in ,created by Sertoma. There is a training site for non-profits created by the IRS to teach volunteers about basic tax compliance (www.stayexempt.org ) There is a wealth of information to help you, please use it. We would ask EVERY club to do “Due Diligence” and make sure your treasurer has these forms filed. When we do not follow through, it causes huge problems and a great deal of work to get a club’s tax exempt status back. By staying on top of this we can save a lot time that can be used to advance our Mission of Hearing Health. Don Bartelmay Sertoma Sr. Vice President