district 7570
DESCRIPTION
District 7570. District Training Team Seminar February 28 - March 1, 2014 Preparing District Leadership: An Overview DGE Vivian Crymble. Financial Matters What clubs must do financially Rotary International District 7570 IRS Expense Assistance. Rotary International - PowerPoint PPT PresentationTRANSCRIPT
District 7570
District Training Team Seminar February 28 - March 1, 2014
Preparing District Leadership: An Overview
DGE Vivian Crymble
District 7570 DTTS 2014
Financial MattersWhat clubs must do financially
Rotary International
District 7570
IRS
Expense Assistance
District 7570 DTTS 2014
Clubs must pay dues to RI twice yearly – payable July 1 & January 1• Dues 14-15 = $27.00/mbr (10 member min)• Magazine = $ 6.00/mbr• COL = $ 1.00/mbr (July only)• Liability Insurance = variable (Martinsville RC $0.11/mbr)
Rotary InternationalSemi-Annual Dues
District 7570 DTTS 2014
Rotary International Semi-Annual Dues
What must club do?• keep roll current @ Rotary.org• log on Rotary.org -> manage -> club
administration• notification methods:
USPS mail SAR packet to secretary• opt for email SAR to Pres/Sec/ Ex
Sec/Treas• opt for paperless – email reminder
District 7570 DTTS 2014
Rotary InternationalSemi-Annual Dues
What must club do?• paperless – log on Rotary.org -> manage -
> club administration• pay by credit card (mail SAR worksheet
later) • or mail invoice/SAR worksheet & check
• paper – complete invoice/SAR worksheet & mail in with check
Note: club that does not pay dues in 6 months will be terminated
District 7570 DTTS 2014
District 7570
Club must pay District dues once a year (no relationship to RI Semi Annual Dues)
Payment (in accordance with District P&P manual):• dues = $23.00 per member• Database/website maintenance fee = $35.00
per club
District 7570 DTTS 2014
District 7570
Procedure:• Club Secretary submits September 30th club roll
to District Secretary• District Treasurer prepares invoice based on
official 9/30 club roll furnished by Dist Secretary• Invoice emailed to President, Secretary, &
Treasurer in early November - payment due December 1
• 5% penalty assessed for payments not received by January 1 (alert emails issued in late December)
District 7570 DTTS 2014
IRS – Tax Filing
• A Rotary club is categorized as a 501(c)4 non-profit entity and must file a form 990 Federal information return, each year
• Club, with gross income of $25,000 or less, must file a form 990-N (electronic e-postcard report) – available at www.irs.gov/eo
• Operating on a 7/1-6/30 fiscal year, return must be filed by 11/15 – club failing to file returns for 3 consecutive years is subject to revocation of tax-exempt status
District 7570 DTTS 2014
Expense Assistance
• District Budget funds available to partially offset expenses incurred in carry out District-related duties – beyond typical Rotarian expenses• Finance Committee policies DFC-1, DFC-2,
& DFC-3 (rotary7570.org – Fin Comm tab)• Payment for authorized invoice or
documented expense – approved by elected officer or committee chair
• Utilize reimbursement voucher (Fin Comm tab)
• Transmit to Dist Treasurer – payment in 1-2 weeks
District 7570 DTTS 2014
Questions?