Responsible management of the fund raising activities promotes:

Trust

Accountability

Financial Transparency

Compliance

Credibility

Notice_1340 Tax-Exempt Organizations and Raffle Prizes - Reporting Requirements and Federal Income Tax Withholding.pdf

Notice_1340 Tax-Exempt Organizations and Raffle Prizes - Reporting Requirements and Federal Income Tax Withholding.pdf

What do you need to complete?

Where do you submit: Chancery Office for approval Approval and Processing Time: 3 office working days

AOA POLICY FOR YOUR GUIDANCE

SECTION ON THE APPLICATION PERMIT FORM

Part A: GeneralPart B: Schedule of PurposePart C: Schedule of Financial TransactionPart D: Schedule of PrizesPart E: Various Reports for SubmissionPart F: Statement of Applicant & Members

in Charge

STEPS TO ORGANIZE FUND RAISING EVENTo Establish a Fundraising Committee with Cash Handling

Subcommittee

o Complete an Application Form and Submit to Chancery for Approval (Procedure must be spelled out on the Application)

o Establish separate GL Account or separate accounting record keeping

o Submit application with Guam Rev Tax with Raffle Tickets to be Pre-Numbered and controlled (Accountability Log) keeping

o Secure insurance if applicable and Ensure RECORDKEEPING is INTACT

IRS rules? I didn’t know the IRS had rules regarding my fundraising event! What do I do now? How do I comply? There is the required records and correspondence that needs to be addressed to keep your organization updated with IRS rules.

2016 INstruction for Form 990-T Exempt Organization Business Income Tax Return.pdf

2016 INstruction for Form 990-T Exempt Organization Business Income Tax Return.pdf

Web link: https://www.irs.gov/pub/irs-pdf/f990t.pdfhttps://www.irs.gov/pub/irs-pdf/i990t.pdf

Hyperlink: ..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRS Forms\Form 990-T Exempt Organization Business Income Tax Return.pdf..\AOA Trainings\Guam Rev Tax Fillable Form\Guidelines\Year 2016 Instruction for Form 990-T Exempt Organization Business Income Tax Return.pdf

Due for submission: Fiscal Closing June 30th

Due on November 15Th

https://www.irs.gov/pub/irs-pdf/f990t.pdfhttps://www.irs.gov/pub/irs-pdf/i990t.pdf../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/Form 990-T Exempt Organization Business Income Tax Return.pdf../AOA Trainings/Guam Rev Tax Fillable Form/Guidelines/Year 2016 Instruction for Form 990-T Exempt Organization Business Income Tax Return.pdf

Web link: https://www.irs.gov/pub/irs-pdf/f1096.pdf

Hyperlink: ..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRS Forms\Year 2017 Form 1096 Annual Summary and TRansmittal of U.S. Information Returns.pdf

Due for submission: January 31 of the following year

Distribution to of 1099-MISC and W-2G

On or before January 31st or earlier

https://www.irs.gov/pub/irs-pdf/f1096.pdf../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/Year 2017 Form 1096 Annual Summary and TRansmittal of U.S. Information Returns.pdf

Web link: https://www.irs.gov/pub/irs-pdf/fw2g.pdfhttps://www.irs.gov/pub/irs-pdf/f1099msc.pdf

Hyperlink: ..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRS Forms\Year 2017 Form W-2G Certain Gambling Winnings.pdf

..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRS Forms\Form 1099 Miscelleneous Income.pdf

Due for submission: January 31 of the following year

Distribution to of 1099-MISC and W-2G

On or before January 31st or earlier

https://www.irs.gov/pub/irs-pdf/fw2g.pdf../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/Year 2017 Form W-2G Certain Gambling Winnings.pdf../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/Form 1099 Miscelleneous Income.pdf

https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRS Forms\Year 2017 Form W-2G Certain Gambling Winnings.pdf

..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRS Forms\Form 1099 Miscelleneous Income.pdf

../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/Year 2017 Form W-2G Certain Gambling Winnings.pdf../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/Form 1099 Miscelleneous Income.pdf

Yes, local rulings need to be adhered too.

Processing Time: 20 days

Required Attachment: AOA Application Permit

Forms: ..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRSForms\SpecificEventApplication.pdf

WebLink: http://www.govguamdocs.com/revtax/docs/SpecificEventApplication.pdf

../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/SpecificEventApplication.pdf

Website Link: http://www.govguamdocs.com/revtax/docs/RegistrationofTickets.pdfForms reference:..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRS Forms\RegistrationofTickets (1).pdf

..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRS Forms\Sample Letter to Dept. rev Tax from Raffle Ticket Printing Company.pdf

http://www.govguamdocs.com/revtax/docs/RegistrationofTickets.pdf../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/RegistrationofTickets (1).pdf../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/Sample Letter to Dept. rev Tax from Raffle Ticket Printing Company.pdf

Web link: https://www.irs.gov/pub/irs-pdf/fw9.pdf?portlet=103

Hyperlink: ..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRS Forms\W-9 Request for Taxpayer Identification Number and Certification (Year 2017).pdf

Need to be filed and retain for records

https://www.irs.gov/pub/irs-pdf/fw9.pdf?portlet=103../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/W-9 Request for Taxpayer Identification Number and Certification (Year 2017).pdf

Web link: http://www.govguamdocs.com/revtax/docs/F500winstructions_201102.pdf

Hyperlink:..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRSForms\F500winstructions_201102.pdf

Due following month of when tax was collected: on or before 15th

http://www.govguamdocs.com/revtax/docs/F500winstructions_201102.pdf../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/F500winstructions_201102.pdf

Weblink: http://www.govguamdocs.com/revtax/docs/FCN-2-2-111.pdf

Hyperlink:..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRSForms\FCN-2-2-111 Business Priviledge Tax Branch Annual Information Return for Tax Exempt Persons.pdf

http://www.govguamdocs.com/revtax/docs/FCN-2-2-111.pdf../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/FCN-2-2-111 Business Priviledge Tax Branch Annual Information Return for Tax Exempt Persons.pdf

Web link: http://www.govguamdocs.com/revtax/docs/GamingForm3260forpublicuse(temporary).pdf

Hyperlink:..\AOA Trainings\Guam Rev Tax Fillable Form\Rev&IRSForms\GamingForm3260forpublicuse(temporary).pdf

http://www.govguamdocs.com/revtax/docs/GamingForm3260forpublicuse(temporary).pdf../AOA Trainings/Guam Rev Tax Fillable Form/Rev&IRS Forms/GamingForm3260forpublicuse(temporary).pdf

Do we nee to submit anything at the chancery office after the fund raising

activities has concluded.

YES1) Statement of Activities (Financial Report)2) Tax Filing Copies related to the event3) Proof documentation of the recipients4) Other documentations that the fund raising events has been manage properly

Other Website References used to compile the presentation

https://www.irs.gov/

http://www.govguamdocs.com/revtax/index_revtax.htm

http://www.nonprofitaccountingbasics.org/special-events/planning-fundraising-event-devil-details

http://www.nonprofitaccountingbasics.org/topic/special-events

http://www.nonprofitaccountingbasics.org/special-events-fundraising/raffles-right-way

http://www.nonprofitaccountingbasics.org/fundraising/accounting-fundraising-expenses

http://www.nonprofitaccountingbasics.org/accounting-bookkeeping-fundraising/improving-communication-between-accounting-development-department

https://www.irs.gov/http://www.govguamdocs.com/revtax/index_revtax.htmhttp://www.nonprofitaccountingbasics.org/special-events/planning-fundraising-event-devil-detailshttp://www.nonprofitaccountingbasics.org/topic/special-eventshttp://www.nonprofitaccountingbasics.org/special-events-fundraising/raffles-right-wayhttp://www.nonprofitaccountingbasics.org/fundraising/accounting-fundraising-expenses

THANK YOU!

For assistance and additional information; please send email or contact:

jvillanueva@archagana.orgeescalera@archagana.org

671-562-0015

mailto:jvillanueva@archagana.orgmailto:eescalera@archagana.org