treasurer ii gateway to… a more advanced look at treasurer lori prussman [email protected]...
TRANSCRIPT
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Insurance
Nonprofit Institutional Fidelity bonding
Defined by amount of funds handled
Requires internal controls
Limitations
Consider general liability and other
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State Tax Exempt letter
Issued from MO Department of Revenue
Each PTA must apply for their own
MOPTA can help with EIN / Letter of determination Unit in Good Standing status Group exemption number
Renew / New
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Filing for a new tax exempt number
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Filing for tax exempt status_updated Jan. 30, 2014
First, you need to go to www.dor.mo.gov and click forms. There will be a space for you to type in the form number; type in 1746. Next you click on the link 1746 Missouri Sales/Use Tax Exemption Application. This will bring up the form, you can fill it out online and print and mail to the address given. There is a checklist of items you need to send in with form 1746. 1) the form 2) Previous exempt letter (if you have one) no matter when it expired 3) Copy of your current Bylaws 4) Copy of your current budget 5) Copy of taxes (last three years) 6) Annual reports (last three years) 7) A copy of IRS letter of determination (this you will need to get from the State PTA office, Linda will know what it is; 800.328.7330) At the top of the page you will need your previous tax exempt number if you had one and your FEIN number. That FEIN number should have been in your tool kit from last summer. State PTA can get that for you if you don't have it.
On the form in section “type of exemption” you need to mark the "not-for-profit social, service, fraternal" box.
There is a section on "incorporated organizations" we do not mark or fill in any of that information (NA). In section “organization name and address” you will need to use your proper PTA name (full name).
There are three sections for addresses. I would suggest using the school address on each one. That way when renewals come they will come to the school each time and not to a past president who no longer is at the school. Just for convenience.
You will need to list two officers and their addresses and such. I did not put either one of our social security numbers on the form. Section 9 is basically our mission statement. "To promote the welfare of children & youth in home, school, community & place of worship. To raise the standards of home life, To secure adequate laws for the care & protection of children, To bring closer relation of home & school. To develop united efforts. We provide materials, programs, and other activities for the families of the St. Joseph School District." Sign, date and mail all materials to MO Dept of Rev., Taxation Division, PO Box 358, Jefferson City, MO 65105-0358
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Filing a renewal form
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Change request
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IRS Basics All PTAs MUST file annually with IRS
File by the 15th day of 5th month after fiscal year end
DO NOT FILE LATE. File for an extension if needed. Form 8868
For fiscal year 2013-2014; tax year is 2013
All local PTAs part of MOPTA & NPTA. Will be listed as “PTA – Missouri Congress-- (local unit name) “.
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990-N Postcard
Gross Receipts -$50,000 or less.
http://epostcard.form990.org – Free online file
15 minutes or less needed to file
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Information Needed
EIN Number
PTA Legal Name (will begin with Missouri Congress of Parents and Teachers - Check Local Information Sheet)
PTA Mailing address
President name & home address
Fiscal Year
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990-N New User
Register with EIN Number & create Password
Open email with activation link & click or paste link to Login page (make sure to write down assigned Login ID & Password; keep with fiscal year tax file)
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990-N Returning User Sign in with previous year’s Login ID &
Password
If treasurer change from previous year, update authorized user information
Keep record of all Login IDs & Passwords with tax files
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E-Postcard
Create your Postcard with unit information
Submit filing to IRS after confirming everything is correct
An email will arrive with e-postcard acceptance or rejection. If rejected, email will have instructions on how to correct problem.
PRINT THE EMAIL FROM THE IRS THAT STATES YOUR E-POSTCARD HAS BEEN ACCEPTED. Keep a copy for your records for treasurer's book, president's book, secretary's book.
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990EZ Tips Gross receipts between $50,000 & $200,000
Return must be thoroughly filled out; incomplete forms will be rejected
Use Missouri PTA’s Group Exemption Number (GEN) 2198
Schedule A must be filed - check Box 9 on the first page
Use broad terms such as “child advocacy”, “student activities”, “teacher support”, etc. to describe activities
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990EZ Tips Use totals on previous Annual Financial Reports
and/or previous 990 filings for Schedule A Part III
Forms and instructions can be found at
http://www.irs.gov/Charities-&-Non-Profits
Filing can be done electronically or paper filing, either way save a printed copy.
http://efile.form990.org/ - Free online file site
If your PTA hires a professional make sure they have experience with group non-profit organizations.
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Letters from IRS
Respond promptly before the stated deadline, if the deadline has passed call immediately to explain.
Supply requested information. If extenuating circumstances - explain them.
Always use PTA EIN number on all correspondence. Include copies of the IRS letter and any enclosed signature forms with your new/corrected information as instructed.
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Letters from IRS
Record dates/times of any phone calls and name(s) of those to whom you’ve spoken and keep copies of all correspondence.
If you have received a letter stating you are incurring penalties and fines, respond immediately.
If you are facing penalties and fines, try to request a waiver, reduction and/or payment plan.
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Questions / Discussion
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Missouri PTA2101 Burlington StreetColumbia, MO 65202
[email protected] www.mopta.org
CONTACT INFORMATION