A WORKSHOP FOR CHAPTER REGENTS & TREASURERS

By Genie Bunge, State Treasurer 2011-14And Nancy Slagle, State Treasurer-Elect 2014-16

OSSDAR STATE CONFERENCEMAY 31, 2014

MONEY MATTERSMONEY MATTERS• TOPICS TO BE COVERED:• New Chapter Treasurer Information• Financial Reports & Budgets• Dues: NSDAR and OSSDAR• Remittances: Magazine Advertising & Chapter Achievement Award• Remittance: President General’s Project• Remittances: Direct to NSDAR & other entities• ePostcard Form 990 Filing• Summary of Due Dates• Website links: info and forms available, eMembership• Records Retention Guidelines

Years: We have many!

• NSDAR Fiscal Year: Jan 1, 2014 – Dec 31, 2014• OSSDAR Fiscal Year: Feb 1, 2014 – Jan 31, 2015• Chapter Fiscal Year: Per Chapter Bylaws• Chapter “Meetings Year”: Usually Sept-May• CAA Reporting Year: Jan 1, 2014 – Dec 31, 2014 • President General’s Term: 3 years; 2013-16• State Regent’s & Officers Terms: 2 years; 2014-16• Chapter Officers Terms: 2 years

You are now Chapter Treasurer. Congratulations!……..Help!

• Regents & Treasurers HELP Sheet: Treasurer Information• Guide for Chapter & State Treasurers• Chapter Regent's Manual & Parliamentary Procedure Guide• Receive financial records and information from outgoing chapter

treasurer.• Review books and budget with prior treasurer & new chapter regent if

possible. Audit of books at your request.• Change signers for bank accounts.

• State in Minutes which officers will be signers, their positions, and specific bank accounts. Banks will need Minutes and chapter EIN (TIN)

• Give Treasurer’s Report at each meeting• Make deposits, pay bills, keep records, reconcile bank statements• Prepare annual budget; chapter Executive Board recommends approval by

members; members approve budget.

Financial Reports

Profit & Loss Statement: Chapter income - Chapter expenses= Net Income (Loss ). Balance Sheet: Chapter assets (bank accounts, etc.) - Chapter liabilities (bills to be paid)= Chapter Equity (Net Worth)

Note: Use P & L Statement format for budgeting See templates at Sample Financials-Excel Spreadsheets (TG-1010)

Who gets what?? When??

• National Dues Invoice packet contains all forms and instructions (includes addressed envelope to Organizing Secretary General). • $37/member. • Chapter check payable to Treasurer General. • MUST BE POSTMARKED TO NSDAR NO LATER THAN NOV

30. Dues postmarked Dec 1 are late.• State dues due by Dec. 31st; late if not received by Jan

31st. • $16/member.• Chapter check payable to OSSDAR State Treasurer.• Include copy of National Dues Invoice

Magazine Advertising & CAA Remittances

• “Daughters’ Newsletter” magazine advertising• Due by October 15 to State Treasurer• $50/chapter • Check payable to OSSDAR State Treasurer

• Chapter Achievement Award (CAA)donation• Due by Dec 10 to State Treasurer• $75/chapter minimum for CAA points Item 3A – D• Check payable to OSSDAR State Treasurer• CAA Form 2014

President General’s Project Remittances

• For President General’s 3 year term of office (2013-16).• ALL contributions based on your chapter count on

1/1/2014. This “official count” is on the NSDAR website in eMembership.

• $6/member total for the 3 years. • Pay in $2/member/year installments or pay once during the

3 years ($6/member).• Chapter check payable to OSSDAR State Treasurer; sent to

State Treasurer.• 100% Certificates awarded the year 100% is attained.• Do not send $2 or $6 for new members added to your

chapter. The count at 1/1/2014 applies no matter how many members you have gained or lost.

Contributions Direct to NSDAR

• Checks payable to Treasurer General NSDAR.• Chapter and individual donations for “Friends

of…” and “Special” national projects.• Complete Form DEV-1003

Donations and Contributions for Special Committees and Funds Form.

• Mail to Office of Development, NSDAR, 1776 D Street NW, Washington, DC 20006-5303.

Contributions to Other Organizations

• Make check payable and send direct to these organizations. OSSDAR can not be a “pass through” entity.

– NSDAR Schools (KDS, Tamassee, etc.)– Chemawa Indian School– Oregon VA (Portland, White City or other VA facility)

– Honor Flights – Oregon C.A.R.– OSSDAR Jr. Membership

Annual IRS Filing

• ALL chapters MUST file Form 990 ePostcard annually. Vital for retaining 501(c)(3) nonprofit status.

• Each chapter has its own EIN (TIN) number.• Filing due date is the 15th day of the 5th month

following your chapter’s fiscal/IRS year end.• Chapter fiscal year end & IRS year end for filing

purposes are usually same.• Submit copy of ePostcard filing to State Treasurer. • Form 990-ePostcard Info Form 990 ePostcard Info and

IRS ePostcard Filing website

SUMMARY OF DUE DATES

• October 15: Magazine Advertising (to State Treas)

• November 30: NSDAR National Dues (to National)• December 10: CAA Donations (to State Treas)

• December 31: OSSDAR State Dues (to State Treas)

• Annually: IRS ePostcard (copy to State Treas)• Annually: Chapter financials (copy to State Treas)

• Annually: Chapter Audit Report (copy to State Treas)

• Annually OR Once/3 years: President General’s Project Donation (based on chapter count 1/1/2014)

FORMS

• OSSDAR – State Treasurer Remittance form State Remittances Form

• NSDAR – National dues invoice & payment. Annual chapter dues invoice & control sheet are mailed to chapters. For other dues remittances to NSDAR, use Chapter Dues & Fees Control Sheet OSG-1003

• Sample financial statements/templates Sample Financial Worksheets

• Form 990-ePostcard Info Form 990 ePostcard Info and IRS ePostcard Filing website

Links to Websites

• Remember to save these to your “Favorites” or “Bookmarks”.

• NSDAR Members’ Only: http://members.dar.org. State & Chapter Finances is on left-side menu.

• OSSDAR Members’ Only: http://rootsweb.ancestry.com/~orossdar/ORDARmembers.htm. Treasurer Info is on right-side menu.

Record Retention Guidelines

• The following records should be retained for three years:• Bank statements and bank reconciliations• Cancelled checks for routine purchases/expenses• Expired insurance policies• Miscellaneous internal reports

• The following records should be retained for seven years:• Invoices• Expense records• Expired contracts• Revenue records (dues, sales, etc.)• Ledgers used to prepare financial statements

Record Retention Guidelines

• The following records should be retained permanently:• Tax returns• Annual financial statements• Insurance records• Property records• Important legal correspondence• Minute books, including Secretary’s Minutes which include

annual Treasurer’s Report• Audit reports • Depreciation records • Cancelled checks for important payments, such as property

purchases