Office of Alumni Affairs and the National Alumni Office of Alumni Affairs and the National Alumni

Association:Association: FAMU NAA’s FAMU NAA’s Finance Finance

Procedures & Procedures & Reporting Reporting

RequirementsRequirements

FAMU NAAFAMU NAAReporting Reporting

RequirementsRequirements

FAMU NAAFAMU NAAFOUNDATION ACCOUNTSFOUNDATION ACCOUNTS

Account Number and DescriptionCurrent Balance

as of June 30, 2015

0197 - National Alumni Life Membership Endowment 1,194,125.91

0198 - National Alumni Life Membership Endowment - Earnings

116,762.18

0202 - DAAG - Distinguished Alumni Awards Gala 17,323.66

0204 - Alumni Restricted Scholarship 204,936.73

0205 - Southeast Region -

0206 - Alumni - Unrestricted Scholarship 46,621.50

0208 - Winter Meeting -

0209 - Alumni Housing Project 17,777.43

0210 - FAMU NAA - Band Uniforms -

0211 - Alumni Operating 35,097.47

0213 - Project Sales 14,056.55

0214 - State Presidents (Florida Region) -

0896 - Alumni Homecoming Account 1,257.83

1192 - FAMU NAA - First USA -

1335 - NAA FAMU Church Day 2,252.40

1404 - NAA Million Dollar Campaign Endowment 201,920.00

1405 - NAA Million Dollar Campaign Endowment Earnings

64,928.96

FAMU NAA FOUNDATION ACCOUNT TOTALS 1,917,060.62

ANNUAL CHAPTER REPORTING

REQUIREMENTSSECTION 10.3.1., FAMU NAA

BYLAWS

Chapters shall submit the following on an annual basis in order to maintain their charters:

A. Submit annual Fundraising & Financial Activity Reporting to the FAMU NAA Treasurer on an annual basis by September 30th of the calendar year;

B. Submit an annual IRS Form 990, or like, to the Internal Revenue Service by the IRS required deadline, copying the FAMU NAA Treasurer on all submissions;

C. Maintain and submit chapter bylaws pursuant to, and not inconsistent with, the FAMU NAA Bylaws to the FAMU NAA Recording Secretary;

D. Submit and update on an annual basis the chapter's officers to the FAMU NAA Recording Secretary, listing and indicating offices held and terms of office.

……FAMU NAA’s Finance Procedures & Reporting FAMU NAA’s Finance Procedures & Reporting RequirementsRequirements

MONTHLY CHAPTER REPORTING

REQUIREMENTSSECTION 10.3.2., FAMU NAA

BYLAWSChapters shall provide membership updates to the FAMU NAA Financial Secretary on a monthly basis.

……FAMU NAA’s Finance Procedures & Reporting FAMU NAA’s Finance Procedures & Reporting RequirementsRequirements

Form 990 and Form 990 and Other Financial Other Financial

FormsForms

ABOUT THE E-POSTCARD (FORM 990-N)• Form 990-N is the newest form,

courtesy of the Pension Protection Act of 2006

• There is no paper version of Form 990-N

• Filing is free and doesn’t require any special software

• File Form 990N (E-Postcard) online at: https://epostcard.form990.org/

……FAMU NAA’s Finance Procedures & Reporting FAMU NAA’s Finance Procedures & Reporting RequirementsRequirements

INFORMATION NEEDED TO FILE E-POSTCARD (990N)Completing the e-Postcard requires the eight items listed

below:1.Employer Identification Number (EIN), also known as a Taxpayer Identification Number (TIN).2.Tax year3.Legal name and mailing address4.Any other names the organization uses5.Name and address of a principal officer6.Web site address if the organization has one7.Confirmation that the organization’s annual gross receipts are $50,000 or less8.If applicable, a statement that the organization has terminated or is terminating (going out of business)

……FAMU NAA’s Finance Procedures & Reporting FAMU NAA’s Finance Procedures & Reporting RequirementsRequirements

http://www.irsvideos.gov/Form990Nand990EZFilingTips/

FORM 990FILING TIPS ONLINE

• Link to Webinar: http://www.irsvideos.gov/Form990Nand990EZFilingTips/

• Automatic Revocation of Exemption for Non-Filing FAQ: http://www.irs.gov/pub/irs-tege/auto_rev_faqs.pdf

• Automatic Revocation of Exemption List: http://www.irs.gov/Charities-&-Non-Profits/Automatic-Revocation-of-Exemption-List

……FAMU NAA’s Finance Procedures & Reporting FAMU NAA’s Finance Procedures & Reporting RequirementsRequirements

……FAMU NAA’s Finance Procedures & Reporting FAMU NAA’s Finance Procedures & Reporting RequirementsRequirementsGENERAL INFORMATIONGENERAL INFORMATION

REQUIRED FORMS AND SUBMISSION DEADLINESREQUIRED FORMS AND SUBMISSION DEADLINES

For Fiscal Year Ending June 30For Fiscal Year Ending June 30thth FORMFORM DEADLINEDEADLINE AGENCYAGENCYFORM 990FORM 990 November 15November 15thth FAMU NAAFAMU NAA

November 15November 15thth IRSIRS

Financial and Financial and Activity ReportActivity Report September 30September 30th*th* FAMU NAAFAMU NAA

*Section 10.3.1.A, FAMU NAA Bylaws

……FAMU NAA’s Finance Procedures & Reporting FAMU NAA’s Finance Procedures & Reporting RequirementsRequirements

REQUIRED FORMS AND SUBMISSION DEADLINESREQUIRED FORMS AND SUBMISSION DEADLINES

For Fiscal Year Ending June 30For Fiscal Year Ending June 30thth FORMFORM DEADLINEDEADLINE AGENCYAGENCY

Officers’ Officers’ March 15 &March 15 &Reporting FormReporting Form Within 30 days Within 30 days FAMU NAAFAMU NAA

following election*following election*Membership Membership Reporting FormReporting Form 15 15thth of the next month of the next month FAMU NAAFAMU NAA

GENERAL INFORMATIONGENERAL INFORMATION

*Officer’s Handbook Revised 2008, Organization of Chapters, Paragraph 2, P.5.

……FAMU NAA’s Finance Procedures & Reporting FAMU NAA’s Finance Procedures & Reporting RequirementsRequirements

ALL INFORMATION REQUIRED FOR THE FAMU ALL INFORMATION REQUIRED FOR THE FAMU NAA NEEDS TO BE SUBMITTED TO:NAA NEEDS TO BE SUBMITTED TO:

The FAMU NAA Recording Secretary at The FAMU NAA Recording Secretary at recsecretary@famunaa.orgrecsecretary@famunaa.org

or mailed to:or mailed to:

Florida A&M UniversityFlorida A&M University

National Alumni AssociationNational Alumni Association

P O Box 7351P O Box 7351

Tallahassee, FL 32314Tallahassee, FL 32314

GENERAL INFORMATIONGENERAL INFORMATION

QUESTIONS???QUESTIONS???