NESFA^® Treasury Procedures:  Annual Transactions

There are a number of transactions which are done annually and which the Treasurer needs to initiate.  More detail will be documented here later.

• Royalty payments for the year.  See the procedure here.
• Federal Income Tax Return:   IRS Form 990 or one of its variants is due on September 15th ("the 15th day of the 5th month after [NESFA's] accounting period ends"¹), but normally we will have to file for an extension of time, on IRS Form 8868.  The instructions for filing form 990 and for requesting automatic extension can be found on the IRS website here.  Also see www.irs.gov/charities.  Procedure TBS.
• Massachusetts Income Tax Return:   MA Form PC or one of its variants is due on September 15th (on the same date as the Federal return), and usually we will have to file for an extension of time.  The instructions for downloading and filing form PC and for filing for an extension of time can be found on the Mass. Attorney General's website here.  A review audit is required.  See www.mass.gov/ago.  Procedure TBS.
• City of Somerville Property Return:  Massachusetts Form 3ABC must be filed with the city on the same schedule as the Massachusetts Form PC is filed with the state. 
• City of Somerville Dumpster Permit:  must be renewed annually in May using their website.
• 1099 Forms:  1099 Forms must be filed with the IRS after the close of the calendar year.  The forms must be received by the payees by January 31, and the IRS's copies (Copy A) must be filed along with Form 1096 by February 15.  Details TBS, but the IRS's instructions are here.
• Annual donations:  On April 1st each year, a check for $180 should be sent to Joel Lord.  The membership voted to contribute $15 per month to Joel to support his service of our mailing lists.  Authorization is in IM #853, p. 5, under New Business.  Joel has asked that a check be sent to him annually on or about April 1.  Joel is listed in Peachtree as vendor id "Lord, Joel", and his address is listed in that record.


• Massachusetts Annual Report for Nonprofit Corporations  Due November 1st.
      and
  Certificate of Change of Directors or Officers  Due after change of officers. See http://www.sec.state.ma.us/cor/corpweb/cornp/npfrm.htm.  Procedure TBS.  (This is, strictly speaking, not a Treasury task, but is listed here for convenience.)
• Tradeshow and Flea Market Promoters application  Required to run the hucksters room at Boskone, and should be done in January.  http://www.mass.gov/dor/businesses/filing-and-reporting/tradeshow-and-flea-market-promoters.html.  Procedure TBS.  (This is, strictly speaking, not a Treasury task, but is listed here for convenience.)
• Health License (Dumpster license)  Due June 15th. Required for us to have the dumpster(s) on our property. License number HDL14-000302. Renew at www.somervillma.gov/citizenserve .

In each case, the Treasurer must create appropriate paperwork to document the transaction and file it.

Here is a list of reports required of Massachusetts non-profit organizations; they have been added to the list above on this page.  Last checked 06-May-2012.

These transactions occur less frequently than annually.

• Application for Sales Tax Exemption Renewal:  MA Form ST-ER.  Due every 10 years before the expiration date of Form ST-2.  See www.dor.state.ma.us.  Procedure TBS, but this is next due in 2019, so there's no big rush.

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