Guideline for treasurer and board as to what is required to generate RMM's year end financial report.
- Summarize and generate report of financial activity
- Have second member (preferably one with auditing or financial experience) review numbers before finalizing and reporting to RMM board.
- Membership numbers
Once done, update and create:
- Red Mountain Makers Financial Summary
- Red Mountain Makers Financial Activity and Projections
- Membership report
- Financial Plan
- Cash flow report
- Budget projection for next fiscal year
- Assumptions & notes. These are important, as they help explain the numbers being presented, especially for non-financial people.
Present the annual report to the membership at the March general meeting.
- Once reviewed and approved by the attending membership:
- Make any needed changes in the report.
- File the RMM Form 990-N with the IRS (must be filed by May 15th of the year following.
- Upload the finalized annual report to RMM's google drive.
- Link to relevant pages on the wiki and website.
- <more stuff to be added>
Substantiating Charitable Contributions https://www.irs.gov/Charities-&-Non-Profits/Substantiating-Charitable-Contributions
Charitable Contributions Substantiation and Disclosure Requirements https://www.irs.gov/pub/irs-pdf/p1771.pdf
IRS Stay Exempt - Tax Basics for Exempt Organizations https://www.stayexempt.irs.gov/
Form 990 Overview Course https://www.stayexempt.irs.gov/Existing-Organizations/Form-990-Overview
Reporting Requirements for Non-Cash Charitable Donations under the Form 990 (DC Bar Pro Bono Center)
Alabama Association of Nonprofits http://alabamanonprofits.org/standards-for-excellence-program.php
Standards for Excellence booklet
National Conference of Nonprofits https://www.councilofnonprofits.org/ https://www.councilofnonprofits.org/tools-resources/saying-thank-you-to-donors
Alabama Code on charitable organizations and fundraisers http://alisondb.legislature.state.al.us/alison/codeofalabama/1975/13A-9-71.htm