990 Report www.GrandLodgeMI.org ARE THERE ANY ACCOUNTANTS IN THE ROOM?

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Presentation transcript:

990 Report www.GrandLodgeMI.org ARE THERE ANY ACCOUNTANTS IN THE ROOM?

990 Report Found on the Grand Lodge website Available to WM, SW, JW, Trea and Secretary Found in the Officers AND Secretary's Folders.

990 Report – Gather Documents Year End Statements Checking Savings Investments Previous Year 990 Report Year End Statements Do they show 'total' interest for year - You will also need your your monthly statements.

990 Report – Gather Documents Check Account Register for the entire year. Accounting Package? MORI Budget If you have a accounting budget that totals by account, then you may be able to refer to them for the 990. Demo will be with a simple spreadsheet.

990 Report – Reconcile Checkbook Explain how the spreadsheet works. Disbursements (see 990) Receipts or income (see 990) Explain outstanding checks.

990 Report Check Register Starting numbers match 990. This is your starting point. Remember this may include outstanding checks or deposits that actually show Up in your bank statements in January where you counted them as income and expense for the previous year.

990 Report In its simplest terms, just plug in the totals. Does it balance? Explain how the Interest on the savings is added. Did we gain or lose money this year? LOSE: $93.07

990 Report Here we are breaking things down by the various ‘Receipts’ and ‘Disbursements’ A = Dues Received B = 5.48 from the ‘Savings’ account interest plus the interest on the checking account. C = Pancake Breakfast income. TOTAL Must = 1,655.48 LOOK FOR BALANCE SUCCESS

990 Report Transfer over the disbursement figures. A = 8. To Grand Lodge per Capita B = 10. Rentals or Assessments (SEE 2X entries) C = 13. Printing, Postage, Office Supplies. (SEE 2X entries) D = =14. Bulletins, Notices Etc… TOTAL must equal 1,748.55 LOOK FOR BALANCE SUCCESS Transfer over the disbursement figures.

MORI Budget to 990 Relationship Here we are using the budget printout of the MORI program. IMPORTANT = MORI DOES NOT TRACK YOUR SAVINGS ACCOUNT. You can track all expenses and income going into the checking account. MORI does not track your Savings Account.

MORI Budget to 990 Relationship If using vouchers, line items carry over. Checks and balances with the Treasurer.

990 Report Balance and approving the 990 report. Sign off on the 990 report.

990 Pending GL Approval Pending approval from the Grand Lodge. Signed and check received?

990 Final Report and Email Once approved you will receive an email. Grand Lodge web: Review/print pending Review/print finals.

Close MORI Budget Prepare for the next year. Close Budget before entering any new vouchers or payments for new year. Close your MORI budget before starting and entering any new funds for the year. NOTE: When you close your budget, the actual date you close it will appear in budget history. Close Jan 10, 2016 After closing budget, you can adjust budget line items. Rename/correct line items.

Presentation Material Slides, spreadsheet and material available on the Grand Lodge website. www.grandlodgemi.org/mori/ Look for “Secretary & Treasurer Oct 31” folder. Powerpoint and check register available on the website.