Year-End Reporting & Taxes Ali Pennisi & Sai Acharya

The Bigger Picture September October FY ended Aug 31 Complete Reviews and reports Sept 30 Complete IRS forms and send everything to State HQ Oct 31 November Timeline (Stay on top)

Associations County 4-H Associations: September 1 – August 31 Foundations County 4-H Foundations: Varies  Began compiling financial documents for review  Appointed reviewers/ auditors to complete the review. Fiscal Year-End September October FY ended Aug 31 Complete IRS forms and send everything to State HQ Oct 31 November Complete Reviews and reports Sept 30

Financial Review Required Forms The review and reports September October FY ended Aug 31 Complete IRS forms and send everything to State HQ Oct 31 November Complete Reviews and reports Sept 30 Annual Year-End Report Account Report Account Summary Report IRS 8821 Membership Roster IRS 990-series

Just follow the link:  Or Go to:  4-H Professionals (across the top)  Click Evaluation and Reporting  Enter in UFL address and password  Click drop down under Tax-Reporting and select Tax Reporting Navigating to Year-End Forms Annual Year- End Report Account Report Account Summary Report IRS 8821 Membership Roster IRS 990- series

Financial Review Identify a reviewer or reviewing committee The Association gathers & prepares the information to be reviewed Reports are reviewed by 4-H Agent and reviewer(s) Findings are reviewed and approved by the CED Reports are returned to 4-H Agent for submission to State HQ and filing all A financial review should be conducted annually for all accounts held under your county 4-H Association

Financial Review very least, At the very least, a financial review should check: Beginning balance Total income Total expenses Ending balance Ensure statements match records Backup documentation Evidence of account balancing Reviewer(s) statement(s) Signature(s) of reviewer(s)

Financial Review vs. Audit financial review annually A financial review should be conducted annually: Provides limited assurance on the county 4-H Association’s financial statements Conducted internally Reviewers should not include the Treasurer, Assistant Treasurer, nor any signatory on any account being reviewed Less costly audit as-needed An audit can be conducted on an as-needed basis: Provides the highest level of assurance on the county 4- H Association’s financial statements and banking procedures Conducted by a credentialed outside party Can be expensive

Annual Year-End Report 9 Account Report Account Summary Report IRS 8821 Membership Roster IRS 990- series General Information – County Association name, address, EIN, and contact information Statement of Continued Inclusion & Signatures – Certify that all requirements have been met for continued inclusion in GEN – Association Chairperson, 4-H Agent, and CED Bylaws – Certify that no changes have been made to the bylaws within the year – If there were changes, attach a current copy and note the changes Financial Information – Certify that a financial review has been carried out – Certify that all necessary forms are attached – Report a change to the fiscal year Membership Information – Certify that you have attached the Membership Roster Tax Information – Certify that you have completed and filed with the IRS the appropriate tax return Annual Year- End Report

Account Reports & Account Summary Report 10 Annual Year- End Report Account Report Account Summary Report IRS 8821 Membership Roster IRS 990- series Account Reports each accountComplete one (1) for each account held by the county 4-H Association Account Summary Report Complete just one (1) Combines information from each account Account Summary Report Account Report

IRS Annual Year- End Report Account Report Account Summary Report IRS 8821 Membership Roster IRS 990- series annually The IRS 8821 must be completed annually University of Florida Allows the University of Florida to review your county 4-H Association’s tax return IRS 8821

Membership Roster 12 Annual Year- End Report Account Report Account Summary Report IRS 8821 Membership Roster IRS 990- series List all members of the county 4-H Association or Foundation Membership Roster

IRS forms September October FY ended Complete IRS forms and send everything to State HQ Oct 31 November Complete Reviews and reports Sept 30 IRS 990-N (E-postcard) IRS 990-EZ IRS 990 Aug 31

IRS 990-N (E-postcard) 14 Annual Year- End Report Account Report Account Summary Report IRS 8821 Membership Roster IRS 990- series Gross Income Gross Income < $50,000 Filed electronically via: Epostcard.form990.org Forward confirmation of successful submission to Sai Acharya The GEN is approved with the IRS, the county 4-H Association’s are captured within the IRS reporting system as subordinate groups.

IRS 990-N (e-postcard) 15 Annual Year- End Report Account Report Account Summary Report IRS 8821 Membership Roster IRS 990- series Common Errors: The system is not able to determine your fiscal year. You may not proceed with this filing. F : The return type indicated in the return header must match the return type established with the IRS for the EIN. F : The EIN in the return must have been established as an exempt organization return filer in the e-file database. Can call the number listed Have handy: Association name, EIN, address Articles of Association - “Founding Documents” IF they can resolve your issues, you will have to wait for 6 weeks before filling electronically

IRS 990-EZ and IRS Annual Year- End Report Account Report Account Summary Report IRS 8821 Membership Roster IRS 990- series Key things to note: Include 6057 Gross income $200,000 > Gross income > $50,000 Gross income > Gross income > $200, EZ: 990: Don’t check any box

IRS 990-EZ and IRS Annual Year- End Report Account Report Account Summary Report IRS 8821 Membership Roster IRS 990- series Key things to note cont’d:

Where to send forms… EZ and 990: Department of the Treasury Internal Revenue Service Center Ogden, UT All paperwork (including IRS 990-Series copies): State 4-H Headquarters Attn: Sailesh Acharya PO Box Gainesville, FL Or:

The Bigger Picture September October FY ended Aug 31 Complete Reviews and reports Sept 30 Complete IRS forms and send everything to State HQ Oct 31 November Timeline (Stay on top)

Additional information Sales Tax exemption  Apply separately (DR-5 form)  Florida Department of revenue  You’ll receive Certificate of Exemption Group Exemption Letter  Is verification of your 501 (c)(3)  County association might not be listed in IRS PUB78. FAQ  sues_FAQ.pdf sues_FAQ.pdf 20

Any questions? 21