1. Membership
By: Julia Shadwick

2. SHRM.ORG

3. VLRC

4. Chapter Audits SHRM audits Chapters membership listing, annually
Your Chapter will receive $10 per year for each SHRM National member.
$25 for 100% Chapters
SHRM members if they belong to more than one Chapter, need to designate a primary Chapter.
Download the template which is on this site.
May be easier to keep Chapter records monthly and submit quarterly.

5. Chapter Audit Form

8. Let’s Talk What has your Chapter done to retain members?
What has your Chapter done to attract members?
What worked?
What did not?

9. Financial Management

10. Audits
Financial Maintenance
Taxes

11. Auditing Has your Chapter had your finances audited?
As a sound business practice, Chapters should have periodic audits of their finances.
Check with a local CPA regarding the frequency of these audits.

12. Financial Maintenance
Handouts
When considering if a control is appropriate for your Chapter, identify risks that the control would help reduce. Consider the likelihood of occurrence of a specific event, the consequences if the event occurs and the cost of implementing the control to prevent occurrence of the risk event.
Chapters vary in size and complexity. Small chapters will find many of these controls impractical. No chapter will answer “true” to every statement.

13. Tax Filings Who Must File?
Chapters qualifying as a not-for-profit organization must file an annual information return. The form to be filed depends on the annual gross receipts of the organization.
Forms
990-N Under the Pension Protection Act of 2006, a 501(c)(3) or a 501(c)(6) organization (which includes most chapters), which is exempted from filing a Form 990 because its annual gross receipts are normally less than $25,000, must file a very simple electronic filing with the IRS once a year. The form is called an e-Postcard or a Form 990-N.

14. Tax Filings (cont.) Form 990EZ Form 990
Short Form Return of Organization Exempt from Income Tax. Used if gross receipts are normally more than $25,000 but less than $100,000 and its total assets at the end of the year are less than $250,000. A Form 990 can be filed in lieu of this return.
Form 990
Return of Organization Exempt from Income Tax. Used if gross receipts normally exceed $100,000.

15. Filing Extensions
To request an automatic three month extension beyond the initial due date of Forms 990 and 990EZ, file Form 8868, Application for Extension of Time to File an Exempt Organization Return.
An additional three month extension can be requested using the same form. The second extension request must show reasonable cause.

16. Penalties
Penalties for late filing of the Form 990 and 990EZ vary depending on the size of the organization.
A penalty of $20 per day, not to exceed the smaller of $10,000 or 5% of the gross receipts of the organization for the year, may be charged when the return is filed late unless the organization can show reasonable cause.

17. Thank you to our sponsors

18. Questions?