Instead of an in-person training this month, we’ll cover some of our most important Spring/End of Year Topics in this newsletter and we are attaching step by step instructions on filing your annual report with the AZ Corporation Commission. We are also including links to IRS Tax Filing pdf instructions. If you have additional questions or need help, please email gpsvnet@gmail.com and we will work with you directly to get answers.
Our next GPS VNet Expo with Mandatory District Training will be on Saturday, August 16th at Highland High School from 8am - 12pm. Registration will be open in July, but add this important date to your calendar now and share this information with your Board!
For profit companies target small nonprofits and send a notice in the mail or an EMAIL asking for you to send them money to stay in good standing with the AZ Corporation Commission or receive a certificate of good standing. Some offer to file your taxes for you and also charge a fee. NONE of these services are required. We encourage you to file the forms on your own and save the money for your organization.
Federal: File your 990N ($50k or less in income), 990 EZ (more than $50k income), or 990 (more than $200k income) form on IRS.gov. Here is a LINK to all the 990 forms and PDFs with the various instructions on how to file, depending on which one you need to file. You must login to your account to access the electronic version of the forms and file electronically.
AZ: You do NOT need to file an income tax form. BUT you must file your annual report (and update your board information for the new year) with the AZ Corporation Commission and pay the $10 fee. Click HERE to file your annual report. Attached is a PDF with step by step instructions for filing your annual report.
If you need help with your filings, please email gpsvnet@gmail.com and we can answer specific questions.
What if you are totally done with your organization, but you helped start it or have been the responsible party (filed the paperwork) with the IRS?
· You can file the 8822-B 8822-B Change in Responsible Party – When you change board members you most likely will need to update who is the responsible person for the EIN. This person will have access rights and communication privileges with the IRS regarding your Organization. New responsible party fill out and mail in. https://www.irs.gov/pub/irs-pdf/f8822b.pdf
*Election (check Bylaws for election procedures)
*Volunteer Appreciation
*Wrap up Budget/Financials - complete yearly audit (have an independent person review the financials, bank statements, and reports for accuracy and verify money rolling over for the new year. Larger organizations should try to get an accountant to volunteer or pay them for their audit services. Very large fundraising organizations may choose to pay an accounting firm for their services).
*Vote on initial Budget for next year - You need to have an approved budget to get the year started and be able to spend money over the summer months until the next meeting. The budget can be amended at your first meeting of the new school year, but you need to have a current active approved budget before you check out for summer.
*Upload materials to Google Drives
*Get binders back from Board & committee members
*File your AZ Corporation Commission Annual Update and your IRS 990 form
*Meet with new incoming volunteers, if possible
*Approve sponsorship packet for the new school year
*Finalize Schedule/Calendar for next year with Principal/Coach
*Summer Fundraising:
-Pogo Passes (great for summer activities)
-Restaurant Nights
-Summer Pool Party
-Car Wash
*Order new Spirit Wear for new year
*Prep binders/flyers/info for the new year
*Work on Sponsorships - This is a great time to get your your new packet to businesses, send out to parents, and have it ready to hit the ground running when school starts
*Prep Welcome Back events or start of season events
*Layout clear expectations, timeline and budget
*Make sure everyone who’s helping in any capacity has an updated job description
*Make it VERY clear what they need to do to be successful, what resources are available to them, and who to reach out to if they need help
THANK YOU FOR ALL THAT YOU DO!
And THANK YOU to our SPONSORS!