Quick Year-End Checklist for Nonprofits -- primer on staying EXEMPT

Thu, November 06, 2014 6:06 PM | Anonymous member (Administrator)

By Carolyn Sechler, CPA


Financial records. 

Always maintain current and proper accounting records.  This will help you effectively manage your organization and plan.  There are plenty of good tools available on line to make your recordkeeping easier!



Acknowledge gifts properly and when received wherever possible, whether they be cash or other items. All gifts must now be acknowledged for your donors to receive a deduction. This is also an excellent opportunity to share with them the impact of their gift and hopefully help them see the value in continuing to support.  Don’t wait until the end of January to get this done.



Confirm that your quarterly tax deposits have been made and employee details are verified (addresses, SS#s, etc.).  Doing so will assure accurate issuance of  W2s.  You might also consider having employees complete new W4s for the year ahead.  Also make sure people are properly classified  (independent contractor vs employee)



Review your files to confirm you have obtained W9s from all you independent contractors.  This will also assure timely issuance of 1099s.


Annual meeting. 

Bylaws typically require at least one annual meeting of the board.  Your state corporate laws likely require this, as well.  Be sure to document these proceedings in minutes.  



Review your activities/programs and take care to confirm your tax exempt purpose is supported by these events.  Unrelated events can result in potentially squandering precious resources like volunteers, distract leadership from mission and worst case, threaten your exempt status.

Review your programs, expenses and income for purpose and mission alignment.


Arizona Corporation Commission

Make sure you complete your renewal annually


990s 99s etc..

Be sure you have good counsel to assist you in filing your annual tax returns.  If you fail to file, or file late for 3 years in a row your exempt status will be revoked.


Merchant accounts

Communicate with your provider of merchant services and learn about PCI Compliance.  This is a series of questions you must complete each year with a fee of $59 to assure your use of this tool is protected.

Join us for an in-depth year end checklist with Carolyn Sechler on Nov 11th at 1 pm ET.  Visit our Upcoming Trainings page for more details!

I want to tell you what WONDERFUL time I had at the conference. I learned so much and came away with lots of ideas for our organization. -Barb Waddle, The Upside of Downs of Northeast Ohio


Down Syndrome Affiliates in Action started as a conference bringing together outstanding leadership from Down syndrome organizations around the country. Learn More

Get in Contact

Down Syndrome Affiliates in Action
7200 E. Hampden Ave. Suite 301  Denver, CO 80224



Monday - Friday
8 am - 5 pm Central

Member Access

Click Here

Powered by Wild Apricot Membership Software